Nani Ardeshir Palkhivala was born on January 16, 1920 in Bombay.

He took his M.A. Degree with Honours in English from the University of Bombay in 1942. He stood First Class First in the first LL.B. examination (1943), as well as in the second LL.B. examination (1944), and again First in the Advocate (Original Side) Examination of the Bombay High Court in 1946.

Palkhivala was a Fellow of the Government Law College, Bombay from 1944-46. He was also a part-time Professor of the same College between 1949-52 and later, Honorary Professor of the College for many years. He was a Member of the Senate of the University of Bombay, being nominated to that office for two years by the Chancellor (the Governor) in or about 1982. He was also appointed the Tagore Professor of Law at the Calcutta University. He was a Member of the First Law Commission, of India (1955), and also of the Second Law Commission (1958). In 1975, he was elected an Honorary Member of The Academy of Political Science, New York, in recognition of his "outstanding public service and distinguished contributions to the advancement of political science."

In September 1977, Palkhivala was appointed Ambassador of India to the United States of America, which assignment he held until July 1979.

In June 1978, the Princeton University, New Jersey (USA) conferred on Palkhivala, the Honorary Degree of Doctor of Laws.

In April 1979, the Lawrence University, Wisconsin (USA) conferred on Palkhivala, the Honorary Degree of Doctor of Laws.

When a Special Bench of 13 Judges of Supreme Court was constituted to reconsider the correctness of the dictum of law laid down regarding the basic structure in Kesavananda Bharati case, Palkhivala’s impassioned address made the Chief Justice to dissolve the Bench.

Palkhivala's post-Budget speeches in Bombay since 1958 have drawn national attention and the audience during his later addresses rose to about a lakh. All those speeches were delivered extempore. Though he is the finest intellectual and jurist of the country and is described some times as "the conscience-keeper of the nation", he is an embodiment of humility.

A number of honours came his way. They include the prestigious Tagore Law Professorship, the Honorary Membership of the Academy of Political Science, New York, the first National Amity Award, the Dadabhai Naoroji Memorial Award and Padma Vibhushan. On the completion of his fifty years at the Bar, he was awarded the Certificate of Honour by the Bar Association of India in recognition of his outstanding contribution to the development of Constitutional Law and for commitment to the Rule of Law.

In January 1998, the University of Bombay conferred on Palkhivala, the Honorary Degree of Doctor of Laws (LL.D). In January 1998, the President of India conferred on Palkhivala, the award of 'Padma Vibhushan'.  Palkhivala is the author of The Law and Practice of Income Tax, which is the standard reference. He is the co-author of Taxation in India, published by the Harvard University in the World Tax Series. He has written books on India's tax structure. In 1984, he published “We, the People”, which contains his speeches and writings of over three decades, including extracts from his speeches on the Union Budget. In 1994, he published “We, the Nation”, which is a companion volume to “We, the People”. In 1999, a book on his selected writings was published - Selected Writings.

He has argued a number of historical cases in the Courts of India and abroad.  Palkhivala successfully argued before the Supreme Court of India the cases, which affirmed the fundamental rights of minorities to establish and administer educational and religious institutions of their choice, and to choose the language in which education should be imparted. Barring some exceptions, many of the cases were all fought by him without charging any fees and as a matter of service to the nation.

On the 12th Birth Anniversary of Mahatma Gandhi, Sadachar Bharati was established with a view to arouse public opinion for eradication of corruption and raising of moral values in the society. Palkhivala has since then been giving 1/10th of his personal income to the Sadachar Bharati for janakalyan (public welfare). Recently Palkhivala made a munificent donation of Rs. 2 crores to Sri Sankara Nethralaya at Chennai and handed over the cheque to the eye surgeon Dr. Badrinath without delay, lest fate intervene before he acted. He was deeply impressed by the work of this Institute in bringing eye care to the poor particularly in rural areas.

Palkhivala was Chairman Emeritus of the Associated Cement Companies Limited, and Chairman of several overseas companies.

He was a Director of - Tata Iron and Steel Company Limited, Tata Engineering and Locomotive Company Limited, Tata Infotech Limited, Tata Energy Research Institute, the Indian Hotels Company Limited, National Organic Chemical Industries Limited, Press Trust of India Limited and of several overseas companies.

Palkhivala had many activities outside the immediate sphere of his work. He was a member of - Forum of Free Enterprise, the Leslie Sawhny Programme of Training for Democracy, the A. D. Shroff Memorial Trust and the Lotus Trust. He was also the Trustee of several public charitable trusts.