Supreme Court To Examine If NCLAT Can Refer Matter To Third Member When Two-Member Bench Delivers Split Verdict

The Supreme Court is set to decide whether, in the case of a split verdict by the National Company Law Appellate Tribunal (“NCLAT”), the reference of the case to a third member would be legally justifiable or should the matter be referred to a larger bench of three members for fresh adjudication. Observing that there is no clear procedure to address situations where a two-member bench...

Non-Resident Company Need Not Have Permanent Office In India To Be Taxed On Income Accruing Here : Supreme Court

The Supreme Court has clarified that under the Income Tax Act, a non-resident company can be taxed in India on income that accrues or arises from a business connection within the country, even if it does not maintain a permanent office or physical establishment here.A Bench of Justice Manoj Misra and Justice Joymalya Bagchi, in its judgment examined the scope of Sections 4, 5(2), and 9(1)(i)...