Judgement Exemption under Sections 11 and 12 of the IT Act is available as Assessee is not engaged in trade, commerce and business and its dominant and prime objective is charitable in nature (ACIT (E), Circle 2(1) vs. National Accreditation Board for Testing and Calibration)(Income Tax Appellate Tribunal) (24.09.2021)In present matter, Assessee being a society registered under Societies Registration Act is also granted registration under section 12A of the Income-t....MANU/ID/0825/2021Direct TaxationWhere initiation of penalty is one limb and the levy of penalty is on other limb, then in the absence of proper show cause notice to the assessee, there is no merit in levy of penalty (Lakshmi Rani vs. ITO, Ward-43(5), New Delhi)(Income Tax Appellate Tribunal) (27.09.2021)Assessee is an individual stated to be engaged in the business of financial services and facilitates loans to various clients from financial instituti....MANU/ID/0847/2021Direct TaxationIf signature on cheque is admitted, presumption under Section 139 of NI Act that cheque was issued in discharge of a legally enforceable debt will be raised (Triyambak S.Hegde vs. Sripad)(Supreme Court) (23.09.2021)The Appellant is before present Court assailing the common order passed by the High Court. Through the said order, the learned Single Judge has allowe....MANU/SC/0690/2021BankingJudicial re-writing of a statutory rule is unwarranted in the exercise of the jurisdiction under Article 226 of the Constitution, particularly in interlocutory proceedings (Saregama India Limited vs. Next Radio Limited and Ors.)(Supreme Court) (27.09.2021)Present appeals arise from an interim order of a Division Bench of the High Court in a batch of petitions. The writ petitions have been instituted bef....MANU/SC/0723/2021Intellectual Property Rights Retrospective seniority cannot be claimed from a date when an employee is not even borne in service (The State of Bihar & Ors. Vs Arbind Jee)(Supreme Court) (28.09.2021)Present appeal is directed against the judgment and order of the High Court. The issue to be answered here is whether the Respondent is entitled to cl....MANU/SC/0716/2021ServiceInsurance claim can be rejected, if vehicle was used without valid registration (United India Insurance Co. Ltd. Vs. Sushil Kumar Godara)(Supreme Court) (30.09.2021)The Appellant (“insurer”) questions the judgment and order of the National Consumer Disputes Redressal Commission, New Delhi ("NCDRC"). In facts of pr....MANU/SC/0743/2021InsurancePower of attorney holder of a financial creditor who has been given authorisation can file an application under Section 7 of IBC on behalf of it (Rajendra Narottamdas Sheth & Ors. Vs. Chandra Prakash Jain & Ors.)(Supreme Court) (30.09.2021)Respondent No. 2 filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) which was admitted by the National Company Law....MANU/SC/0744/2021Insolvency