Karnataka High Court rules that Section 50 of the Income Tax Act is not applicable without an actual depreciation claim, even if the asset is depreciable.
Karnataka High Court held that statutory upper limit of maximum stamp duty INR 25 crores under the Karnataka Stamp (Second Amendment) Act, 2022 is not applicable to the additional duty levied under section 3B the Karnataka Stamp Act, 1957.
Karnataka High Court directs GST refund for Rohan Corporation’s mall purchase, stating sale of immovable property without construction service is not taxable.
Karnataka High Court held that the provisions of section 197(15) of the Companies Act are amended and made effective from 02.11.2018 hence the amended provisions would not apply to the offences which are said to have been committed in the year 2016.
Karnataka High Court quashes consolidated GST order against Toshiba Software, remanding for separate orders per period to allow Amnesty Scheme use.
Karnataka HC dismisses appeal, stating inflated contract figures to claim refund amounts to defrauding the state.
Karnataka High Court rules Section 263 cannot be invoked solely due to the absence of a DVO report, if best judgment assessment was an option.
Karnataka High Court held that total consideration under composition scheme doesn’t include amount received from customer towards land. Thus, consideration for works contract under composition Scheme of KVAT doesn’t include receipt for land cost.
Karnataka High Court allows ESOP discount as deductible expense under Section 37 for Biocon Ltd. Revenue’s appeal dismissed for AY 2004–05.
Karnataka High Court held that entertainment tax and service tax are independent of each other. Thus, for the purpose of levy of entertainment tax, the ‘amount received or receivable’ cannot include service tax component.
