Supreme Court of India

Law laid down by jurisdictional HC binding on assessee under jurisdiction: SC

DCIT Vs m/s. Raghuvir Synthetics Ltd. (Supreme Court of India)

Even though it is a debatable issue but as Gujarat High Court in the case of Ahmedabad Mfg. & Calico (P) Ltd. (supra) had taken a view that it is capital expenditure which was subsequently followed by Alembic Glass Industries Ltd. V. CIT (supra) and the registered office of the respondent assessee being in the State of Gujarat, the law la...

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Primacy to CJI’s Opinion on appointments not make Lokpal unconstitutional: SC

Just Society Vs Union of India (Supreme Court of India)

Dismissing the challenge against constitutionality of certain provisions of the Lokpal and Lokayuktas Act, the Supreme Court has held that the Constitution does not mandate that in all matters concerning the appointment to various offices in in different bodies, primacy must be accorded to the opinion of the Chief Justice or his nominee....

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SC Accepts Rs. 2,000-Cr Cheques by Sahara Chief Subrata Roy

S.E.B.I. Vs Sahara India Real Estate Corpn. Ltd. & Ors. (Supreme Court of India)

The Supreme Court on Thursday granted relief to beleaguered Sahara Group boss Subrata Roy, but warned him that he would be sent back to jail if cheques given by him today are not realised by June 19. Sahara has given two cheques of around ₹ 2,000 cr and committed to pay ₹ 3,000 crore more by October end....

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Lokpal cannot be kept Pending for vacancy in Selection Committee: SC

Common Cause: A Registered Society Vs Union of India (Supreme Court of India)

Under Section 4 of the Act, the Chairperson and Members of the Lokpal are required to be appointed by the President on the recommendations of a Selection Committee consisting of- (a) the Prime Minister – Chairperson; (b) the Speaker of the House of the People – Member; (c) the Leader of Opposition in the House […]...

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Formula One Car Racing Income Taxable In India: SC

Formula One World Championship Ltd. Vs Commissioner of Income Tax (Supreme Court of India)

As per Article 5 of the DTAA, the PE has to be a fixed place of business ‘through’ which business of an enterprise is wholly or partly carried on. Some examples of fixed place are given in Article 5(2), by way of an inclusion....

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Court cannot review decision to not exempt goods from Excise: SC

M/s Mangalam Organics Ltd. Vs Union of India (Supreme Court of India)

Once the appellant accepts that in law it was liable to pay the duty, even if some of the units have been able to escape payment of duty for certain reasons, the appellant cannot say that no duty should be recovered from it by invoking Article 14 of the Constitution. ...

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TDS on Land Acquisition amount is part of Compensation: SC

Baranagore Jute Factory Plc. Mazdoor Sangh (Bms) Etc Vs Baranagore Jute Factory Plc (Supreme Court of India)

Respondents should not have appropriated the refund they received from the Income- Tax Department. There is nothing wrong in claiming the refund. The problem is in utilising the refund received. ...

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SC Sets aside Himachal HC Judgment for Poor English

Sarla Sood and Ors Vs Pawan Kumar Sharma (Supreme Court of India)

In this case SC held that After hearing learned counsel, it is not possible to comprehend the contents of the impugned order passed by the High Court. The order passed by the High Court is, therefore, set aside and the matter is remanded to the High Court for fresh consideration on merits....

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Sale of a Running Business with all Assets & Liabilities is Slump Sale: SC

The Commissioner of Income Tax, Vs Equinox Solution Pvt. Ltd. (Supreme Court of India)

Provisions of Section 50 (2) of the Act would apply to a case where the assessee transfers one or more block of assets, which he was using in running of his business. Such is not the case here because in this case, the assessee sold the entire business as a running concern....

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Procedure for recovery of land revenue not discriminatory

Power Machines India Ltd Vs State of Madhya Pradesh & Org. (Supreme Court of India)

It is apparent from the aforesaid dictum of this Court that providing of plural remedies is valid when two or more remedies are available to a person even if inconsistent, they are valid. It is for the person to elect one of them and there is no question of repugnancy in providing such remedy....

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