Author: Aeshita Marwah, University of Petroleum & Energy Sciences. According to Article 56(2)(x) of the Income Tax Act1, a person shall be liable in the hands of the recipient for any property including the shares in a corporation for consideration below fair market value. In Sec 56(2)(x) of the Income Tax Rules, Article 11 of the
A STUDY OF LEGAL PROVISION Author: T. Bhavadharani, Government Law College, Madurai affiliated by Tamilnadu Dr. Ambedkar Law University. INTRODUCTION: Today, in this commercial world technologies are developed broadly. The transactions in business are heavy for which we need safer and evidential proof. It is a common practice for businessmen to make use of
Author: Samay Jain, Institute of Law, Nirma University Introduction It is a Latin proverb that implies that where there is a wrong, there is a cure. Assuming any wrong has been committed by an individual, the law will give a solution in the form of remedy for that. The adage can be stated as that
By. R.Pon Aishwarya, Alliance University Res Judicata is derived from a Latin word that means a thing adjudged. It generally means that a case cannot continue to appear for an appeal if the judgment is made on positive grounds. Through literal interpretation, it means that an appeal cannot be made in the same or different
Author: Ashwin Singh, Student, Symbiosis Law School, Pune (Symbiosis International Deemed University) Introduction The Indian judiciary system dates back to thousands of years thus making it the oldest judiciary system in the world. In early Vedic times, laws were made keeping dharma in mind due to which people used to follow them for several years,
Author: Utkarsh Singh; Amity University, Lucknow I. Introduction Ostensible Ownership is a word that allows family members to purchase property in another family member’s name for the person’s future security. Section 41 contains the definition of the ostensible owner. ‘Ostensible Ownership denotes ownership that may be seen via acts or words. The concept of ostensible
Author: VAISHNAVI VATS, BANASTHALI VIDYAPEETH, JAMNALAL BAJAJ SCHOOL OF LEGAL STUDIES INTRODUCTION Section 29A was added to the code of Insolvency and Bankruptcy in the year 2017 through the amendment act, by giving it a retrospective effect. Before its introduction, the rule used to be, that in the process of bidding in respect of a
Introduction Small and medium enterprises also called SEMs is a simple term used for classifying organisations based on their size. organisations which employ below a certain number are termed small and medium sized enterprises. International organisations like the world bank, the UN, the E and the world trade organisation use the term “SME”. SMEs in
Article by Anand Shelke ,5th year of B.A.LL.B (Hons) from Sandip University, Nashik, Maharashtra. Introduction The IBC plays a major reform in recovery of debt from 2016. The Insolvency is a financial distress where the corporate debtor is unable to pay debt and there is cycle of defaults. IBC is a time bound time process
Article by Sonam Malik, Associate at Aekom Legal and Lokesh Dhyani, Partner at Aekom Legal. Introduction It has been disputed since long, whether an unregistered partnership firm can file a suit albeit the long standing provisions of the Indian Partnership Act, 1932[“Partnership Act”]which clearly bars the unregistered partnership firm to file suit in any court.
This Article is written by Priya Aggarwal, BBA LLB, 4th Year, Student of Himgiri Zee University, Dehradun. Introduction – The word ‘arrest’ is well known term in the society. It simply means to confine a person by the public authorities such as police or magistrate. However, the code of criminal procedure does not define the
Author: Abhishek Sinha (Ultimate Year Law Student), ICFAI Law School, Dehradun. Introduction: Among few jurisdictions, India is the one to statutorily define public policy through Arbitration and Conciliation (Amendment) Act, 2015. While other countries consider the international public policy as a public policy only, the courts of India decided that there is no such workable
Author: Abhishek Sinha (Ultimate Year Law Student), ICFAI Law School, Dehradun. Acquisitions have never been utilized to reroute and reorganize corporate strategy more generally. Many CEOs now feel that purchasing a company to get access to markets, commodities, technology, resources, or management skills is less risky and quicker than pursuing the same objectives internally. Even
Author: Ashwin Singh, Symbiosis Law School, Pune Introduction In all sectors worldwide the impact of the COVID-19 pandemic is apparent. This is seriously affecting both the education sectors of India and the world. It has caused the global shutdown to create very poor effects on the lives of pupils. Approximately 32 crore students have ceased
Author: Ashwin Singh, Symbiosis Law School, Pune. Introduction: In ancient times when there were kings and queens, the pardoning power was used by them for their gain and for generating revenues. Now that the shift in kingdoms to democracies, from kings to presidents, the power has shifted and is now given for mercy and fairness.