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Supreme Court Directs Madras High Court to Decide on the Validity of Section 40(a)(iib) of the Income Tax Act, 1961

10 minutes ago Atharwa Gauraha 0
On Wednesday (November 25, 2020),  the Supreme Court ordered the Madras High Court to rule on the constitutional validity of Section 40(a)(iib) of the Income Tax Act, 1961, which forbids the deduction of royalties, licence fees, etc. in the case of State government undertakings headed by profits and business gains.The judgement was issued in...

Right to Choose a Partner of Choice is a Fundamental Right: Allahabad HC

Nov 25, 2020 Atharwa Gauraha 6
The Allahabad High Court held that the right to live with a person of his/her choice, regardless of the religion professed by them is intrinsic to the right to life and personal liberty, in an important ruling in the midst of the attempt of states to introduce laws for "love-jihad”. A bench of Justices Pankaj Naqvi and Vivek Agarwal...



Kerala Governor signs off ordinance amending Kerala Police Act, 2011 to combat defamation and criminalize certain classes of communication

Nov 24, 2020 Richa Shah 4
Arif Mohammad Khan, the Kerala Governor, signed off a controversial ordinance introduced by the Left government in the State on Saturday (21st November 2020) which amends the Kerala Police Act, 2011.The amendment states Section 118A to criminalise certain classes of communication and publications.This new provision makes any expression,...

RBI Becomes First Central Bank in the World to Have One Million Twitter Followers

Nov 24, 2020 Richa Shah 6
The Reserve Bank of India (RBI) has become the first central bank in the world to have more than one million or 10 lakh Twitter followers. Bank colleagues were congratulated by the RBI Governor Shaktikanta Das.Das said in a Twitter post, “RBI Twitter account reaches one million followers today. A new milestone. Congratulations to all my...



Punjab & Sind Bank to Raise up to Rs. 5,500 Crores via Preferential Issue

Nov 24, 2020 Parul Singhal 6
State owned Punjab & Sind Bank on Saturday (21th November, 2020) said that its board has approved a proposal to raise up to Rs 5,500 crores by issuing shares on a preferential basis. The approval from government is in line to infuse an amount of Rs 5,500 crores in the bank towards contribution of the Centre in the preferential allotment...

Delhi HC Reserves Order on Future Retail's Plea to Injunct Amazon from Interfering in Reliance Deal

Nov 23, 2020 Richa Shah 7
On Friday (20th November, 2020), the Delhi High Court reserved order on an application by Kishore Biyani led Future Retail Ltd (FRL). The order was given to stop Amazon from interfering in the Rs 24,713 crore Reliance-Future deal on the basis of an interim order passed by the Singapore International Arbitration Centre (SIAC).This was heard by...
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