PCIT Vs Abhisar Buildwell P Ltd (Supreme Court of India) Revenue files MA in SC seeking clarification regarding applicability of judgement in the light of provisions of Section 150 of IT Act 1961 After the judgement of Supreme Court in the case of Abhisar Buildwell Pvt ltd was announced on 24th April, 2023, the Income-tax […]
The Calcutta high court in this case was dealing with challenge to declaration of the petitioner herein as a wilful defaulter vide order passed in October,2018 when the counsel for the bank challenged maintainability on the ground of delay. The bank argued that the immediate cause of the writ was the lookout circular which was issued against the petitioner whereupon the petitioner was not allowed to travel abroad.
PCIT Vs Balmer Lawrie And Company Limited (Calcutta High Court) The Division bench of Calcutta High Court in this case was considering department’s appeal whether any substantial question of law arose when the assessee had claimed Rs 4.08 crore as prior period expenditure on account of same having crystallised during the year though it related […]
SAP Labs India Private Vs ITO (Supreme Court of India) Whether in every case where the Tribunal determines the arm’s length price, the same shall attain finality and the High Court is precluded from considering the determination of the arm’s length price determined by the Tribunal, in exercise of powers under Section 260A of the […]
State of Gujarat and Anr. Vs Saw Pipes Ltd. (Supreme Court) The highest court of the country in this case was considering the levy of penalty and interest under the provisions of Gujarat Sales tax Act 1969 when the high court gave relief by setting aside interest and penalty in relation to tax paid on […]
Meaning of commercial purpose under Consumer Protection Act for reimbursement of claim on account of fire at Godown of a commercial enterprise
SC held that declaration in bill of entry as goods and acceptance under Customs cannot be determinative of transaction and import of design and drawings in a paper was import of service liable for service tax under applicable provisions.
Whether Duty drawback and DEPB received as an incentive for exports can be said to be derived from the business of industrial undertaking and thus eligible for the benefits of Section 80-IB of Income-tax Act, 1961?
Mansarovar Commercial Pvt. Ltd. Vs CIT (Supreme Court of India) Sub- What is the meaning of management and control for the purpose of determining residency of a company? Whether simply registered office of a company can be the criterion ? The Supreme Court in this case was considering interesting question as to taxability of alleged […]
Whether payment to shareholders out of sale proceeds of a property belonging to the company, to end dispute amongst the shareholder can be cost of improvement for computation of capital gains?
