Banks Can Claim Tax Deductions For Broken Period Interest On HTM Securities If Held As Trading Assets: Supreme Court

The Supreme Court on Wednesday (October 16) held that banks can claim tax deductions for broken period interest on held to maturity (HTM) government securities if they are held as trading asset. “Therefore, on facts, if it is found that HTM Security is held as an investment, the benefit of broken period interest will not be available. The position will be otherwise if it is held...

Prayed To God To Find A Solution To Ayodhya-Babri Masjid Dispute : CJI DY Chandrachud

Chief Justice of India DY Chandrachud recently said that the Ayodhya-Babri Masjid dispute was a case which was difficult to adjudicate and he had to pray to God to find a solution.CJI was addressing a gathering at Kanhersar village in Khed taluka."Very often we have cases but we don't arrive at a solution. Something similar happened during the Ayodhya (Ram Janmabhoomi-Babri Masjid dispute)...

Bahraich Violence | 'No Reason To Say UP Govt Won't Follow SC's Order On Demolitions': Allahabad HC Grants 15 Days To Accused To Respond To PwD Notices

In an extraordinary Sunday sitting, the Allahabad High Court today heard a Public Interest Litigation (PIL) plea moved by the Association For Protection of Civil Rights (through its Vice President, UP East, Sayed Mehfuzur Rehman) challenging the Uttar Pradesh Government's proposed action to demolish properties belonging to the accused in the Bahraich violence case. Hearing the matter...

Plea Filed In Supreme Court Seeking Urgent Relief Against Demolitions Proposed Following Bahraich Violence

Three persons alleged to be related to the incident of violence that took place at Bahraich, Uttar Pradesh on 13.10.2024 have approached the Supreme Court seeking urgent relief against demolition action proposed to be taken against their houses today ie on 20.10.2024.The development comes in the form of an intervention application filed in the "bulldozer matter", during the hearing of which...

Trust Deficit In Judiciary Might Push People To Vigilantism & Mob Justice, Which Will Erode Rule Of Law : Justice BR Gavai

"A trust deficit in the judiciary threatens the very foundation of our institution," emphasized Supreme Court Justice Bhushan Ramkrishna Gavai while addressing a gathering on Saturday (October 19) at the Annual Conference for Judicial Officers in Gujarat on the theme of 'Institutional Perspective-Self Evaluation and Self Evolution'.Emphasizing that Courts need to continuously nurture...

Supreme Court Stays HC Judgment Which Refused To Quash Case Against Person For Calling Congress President Kharge 'Ayogya'

The Supreme on Friday (October 18) stayed the operation of the Karnataka High Court judgment which allowed investigation against a person accused of calling the President of All India Congress Committee (AICC) Mallikarjun Kharge as 'Ayogya'. The bench of Justice MM Sundresh and Justice Pankaj Mithal passed the interim order while issuing notice on the petitioner's special leave petiton.The...

Supreme Court Affirms Uttarakhand HC Judgment On Regularisation Of UNPL Workers

The Supreme Court recently upheld the 2018 judgment passed by the Uttarakhand High Court which directed that the Uttarakhand Purva Sainik Kalyan Nigam Limited (UPNL) workers are employees of the State.On November 12, 2018, the High Court passed several directions including regularisation of the UPNL employees, who have served for 10 years or more, in a phased manner within 1 year as per...

Senior Designation Transforms How Advocates Argue, It Allows Platform For Others To Excel: CJI DY Chandrachud

Chief Justice of India D.Y. Chandrachud spoke at the first international conference of the Supreme Court Advocates-on-Record Association on how the designation of senior counsel has a broader purpose and the idea is to bring a certain degree of accumulated understanding of law and society by virtue of experience.He added that when the purpose of the designation is that the members of the...

Supreme Court Issues Notice On Plea Challenging Punjab Panchayat Polls Over Alleged Irregularities

The Supreme Court yesterday issued notice on a plea alleging irregularities in the conduct of the Panchayat Elections in Punjab, held on October 15.A bench of Justices Sanjiv Khanna and Sanjay Kumar passed the order, seeking response from the Punjab government and State Election Commission. The matter is tentatively listed on November 19.Earlier, on October 15, the Supreme Court had refused...

District Judiciary Predominantly A Regional Language Judiciary : CJI DY Chandrachud Stresses Need To Translate SC Judgments

Expressing how serious the cause of concern is across all levels of the judiciary because of inability to reach subordinate judiciary in the language they understand, Chief Justice of India D.Y. Chandrachud said: "This is a very serious cause for concern. So a Supreme Court judgment laying down what should be the yardstick for the grant of bail in PMLA [Prevention of Money Laundering Act]...

Important MCQs Based On Latest Supreme Court Judgments For Law Examinations

Q 1. After the arguments concluded, the complainant filed an application seeking further investigation under Section 173(8) of the Cr.P.C. The application was filed based on the evidence he led during the trial without averring new material or grounds for further investigation. Decide.a. The application would not be maintainable due to the complainant's failure to produce new material.b....

Service As Fast Track Judge Not Counted For Pension : Supreme Court Issues Notice On Plea Of Deceased Judicial Officer's Wife

The Supreme Court issued a notice in a plea preferred by the wife of a deceased judicial officer who was denied his pensionary and retiral benefits despite over 10 years of total service as a Judicial Officer.The bench comprising Justices Hrishikesh Roy and SVN Bhatti heard a case where the deceased judicial officer joined judicial service on 16.05.1991 and after about 8 years, he...