Judgement Quantification of penalty is dependent upon the additions made to the income of the assessee (Smartspace Infrastructure Pvt. Ltd. vs ITO, New Delhi)(Income Tax Appellate Tribunal) (02.08.2021)Assessee is a company stated to be engaged in the business of carrying on infrastructure activities. Assessee filed its return of income for Assessmen....MANU/ID/0614/2021Direct TaxationOnce the borrowed funds were utilized for business purposes, interest paid on same becomes an allowable deduction under Section 36(i)(iii) of the IT Act (Great White Hardware Pvt. Ltd. Vs. ACIT)(Income Tax Appellate Tribunal) (02.08.2021)Present appeal arises out of the order by the learned Commissioner of Income Tax (Appeals). The ground raised by the assessee is with regard to challe....MANU/IU/0447/2021Direct TaxationUnexplained delay in disposal of the representation made on behalf of the detenu is sufficient to set aside detention order (Sagunthala Vs. The Secretary to the Government, Home, Prohibition and Excise Department and Ors.)(High Court of Madras) (02.08.2021)The Petitioner is the mother of the detenu. The detenu has been detained by the second Respondent holding him to be a "Goonda", as contemplated under ....MANU/TN/5245/2021CriminalCivil or Commercial dispute are to be adjudicated and resolved by Arbitral Tribunal unless the jurisdiction of the Arbitral Tribunal is excluded either expressly or by necessary implication (Ambey Mining Pvt. Ltd. and Ors. Vs. Western Coalfields Limited and Ors.)(High Court of Bombay) (02.08.2021)By present petition, the Petitioners are seeking issuance of directions to the Respondent No. 1 to proceed with resolution of disputes raised by Petit....MANU/MH/1936/2021ArbitrationAn entity which is misusing the status conferred upon it by Section 12AA of IT Act is not entitled to retain and enjoy said status (Commissioner of Income Tax (Exemptions), Kolkata vs. Batanagar Education and Research Trust)(Supreme Court) (02.08.2021)Present appeal challenges the judgment passed by the High Court setting aside (i) the order passed by Commissioner of Income Tax (Exemption) (“CIT”) c....MANU/SC/0494/2021Direct TaxationNo bar in permitting amendment of pleadings or filing of additional documents in CIRP application under Section 7 of IBC (Dena Bank vs C. Shivakumar Reddy and Ors.)(Supreme Court) (04.08.2021)Present Appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) is against a judgment passed by the National Company Law Appellate T....MANU/SC/0502/2021InsolvencyEmergency arbitrator’s award is enforceable under Section 17(2) of the Arbitration Act (Amazon.com NV Investment Holdings LLC vs. Future Retail Limited and Ors.)(Supreme Court) (06.08.2021)In present case, proceedings were initiated by the Appellant, Amazon.com NV Investment Holdings LLC ["Amazon"] before the High Court under Section 17(....MANU/SC/0510/2021Arbitration