Tribunal held that income from international air transport through code-sharing arrangements qualifies for exemption under Article 8 of the India-USA DTAA, as it forms part of aircraft operations in international traffic.
The ITAT Bangalore held that income from tissue culture and nursery operations forms part of agricultural income under Section 10(1) when integrated with land-based cultivation.
The Court held that once ITAT upholds the appellate order and the assessee clears all dues, attachment of property must be lifted even if a departmental appeal is pending.
ITAT Ahmedabad held that denial of opportunity of hearing while rejecting an 80G(5)(iii) application violates natural justice and remanded the case for fresh adjudication.
NCLT Principal bench held that scheme of Merger by Amalgamation between Maruti Suzuki India Limited and Suzuki Motors Gujarat Private Limited as proposed by the Petitioner Companies under Sections 230 to 232 of the Companies Act, 2013 is sanctioned.
Gujarat High Court held that petition for levy of VAT on supply of medicines, stents, implants, consumables etc. during the course of treatment of patients is dismissed. Accordingly, levy of VAT on such supply sustained.
Madras High Court upheld ITAT’s finding that receipt of bonus shares does not constitute income under Sections 2(22)(b) and 56(2)(viia). Revenue’s appeal was dismissed.
NCLAT Delhi held that in terms of regulation 33(2)(d) of the Liquidation Process Regulations [LPR], liquidator is required to obtain prior permission of the Adjudicating Authority for conduct of private sale. Here, since prior permission is not obtained the same tantamount to an infraction of LPR.
The Finance Act, 2024 changes buyback taxation—proceeds are now taxed as dividends in investors’ hands, removing the earlier tax advantage of corporate buybacks.
Discover how India’s GST evolved into a tech-driven system powered by AI, blockchain, and data analytics, revolutionizing tax compliance and transparency.
