TATA Consultancy Services Limited Vs Vishal Ghisulal Jain (Supreme Court) Facts- The appellant and the Corporate Debtor entered into a Build Phase Agreement followed by a Facilities Agreement. The Facilities Agreement obligated the Corporate Debtor to provide premises with certain specifications and facilities to the appellant for conducting examinations for educational institutions. Later, a termination […]
There was a controversy whether livestock would constitute plant within the meaning of clause (3) of section 43 of the Act, that controversy has now been set at rest by the amendment of section 43(3) by the Parliament by the Finance Act, 1995 with retrospective effect from the inception of the Act, i.e., 1-4 -1962 to exclude tea bushes and livestock from the ambit of ‘plant’. 1t is now made clear in the definition of ‘plant’ in section 43(3) mentioned below
Unifab Engineering Project Pvt. Ltd. and anr. Vs Deputy Commissioner CGST And CEX (Bombay High Court) 1. A show cause-cum-demand notice dated July 29, 2021 issued by the Deputy Commissioner CGST & CEX, respondent no.1, is under challenge in this writ petition. By the impugned notice, explanation has been called for from the petitioners as […]
PCIT Vs Vaidya Panalalmanilal (HUF) (Gujarat High Court) The materials on record would suggest that there was no dispute at the hands of the Revenue that the sale consideration arising out of the sale of the capital asset was used for acquisition of a new asset and that such newly acquired asset was also shown […]
Dheeraj Kumar Vs State of Jharkhand (Jharkhand High Court) Since the decision has been taken by the competent authority as under Section 18(3) of the Disaster Management Act, 2005 relaxing the outdoor congregation for conducting the T-20 International Cricket Match as has been submitted by Mr. Amit Kumar Das, learned counsel for the JSCA that […]
Difference between Direct Tax and Indirect Tax in India Introduction In India, the government’s right to impose taxes is derived from the Constitution Of India, which divides the power to levy taxes between the state and central governments. All taxes charged in India must be accompanied by a law issued by either the Parliament or […]
Parag Kishorchandra Shah Vs The National Faceless Assessment Center & Ors. (Bombay High Court) HC held direction needs to be issued to the Assessing Officer to pay costs to bring judicious approach amongst Assessing Officers for effective implementation of faceless assessment in its letter and spirit. The Assessing Officer should have been aware of the […]
CCI releases key findings and observations on Market Study on Pharmaceuticals Sector in India The Competition Commission of India (CCI) has released here today a report titled ‘Market Study on the Pharmaceutical Sector in India: Key Findings and Observations’ (`the study’). The report may be accessed at: http://cci.gov.in/sites/default/files/whats_newdocument/Market-Study-on-the–Pharmaceutical–Sector-in-India.pdf With the overarching objective of understanding the […]
PCIT Vs Shailja Pasricha (Delhi High Court) Assessing Officer had in fact invoked Section 50C of the Act claiming that the sale consideration of Rs. 18 Crores received by the respondent was below the Circle Rate. This was clearly ignoring the fact that the sale consideration was in fact Rs. 35 Crores. The CIT(A) and […]
In Re: Anti-competitive conduct in the paper manufacturing industry (Competition Commission of India) CCI imposes a penalty on paper manufacturers for indulging in cartelisation The Competition Commission of India (CCI) issued a final order yesterday against certain companies manufacturing paper from agricultural waste and recycled wastepaper as well as an association, which were found to have contravened […]
