Where the document was executed by the parties prior to the revision of the fair value, the valuation need only be done in accordance with the fair value existing as on the date of execution of the document and the stamp duty for the purpose of registration need be calculated accordingly.
Compensation received in respect of non agricultural land which has been exempted from levy of income-tax vide section 96 of the RFCTLARR Act shall also not be taxable under the provisions of income-tax Act, 1961 even if there is no specific provision of exemption for such compensation in the Income-tax Act, 1961
In the given case, the contention of the petitioner is essentially that, why the Appellate Authority deemed it necessary for the petitioners to pay 20% of the total demand, as a condition for stay of the balance 80% of the demand arising from the assessment order during the pendency of the appeal.
High Court by referring to one of the judgment of the Division Bench of HC states that it would not be necessary that the payment of 20% can be dispensed with only if there is an order of the high court. The AO or the appellate authority while exercising the power of appeal or stay of the assessment proceedings under section 226 of the Income Act 1961 are enjoined obligation to give regard and respect to the directions of the Hon’ble High Court
State of Sikkim Vs State of Kerala (Kerala High Court) Conclusion: Levy of license fee on the draw of lotteries under Section 5BA of Kerala General Sales Tax (KGST) Act, within the state of Kerala was prohibited by the virtue of law, so the Kerala Tax under Section 5BA of Kerala General Sales Tax (KGST) […]
Kerala State Beverages (Manufactoring And Marketing) Corporation Limited Vs ACIT (Kerala High Court) Conclusion: Surcharge on sales tax and turnover tax was not a ‘fee or charge’ coming within the scope of Section 40 (a) (iib) and was not an amount which could be disallowed under the said provision. Therefore the disallowance made in this […]
Having regard to the public announcement of imposing a total lock down in the wake of outbreak of pandemic Corona Virus, resulting in immobilization of public at large, and total stoppage of public transport, litigants would find it difficult to approach the Courts to vindicate their grievances. Therefore, we deem it proper to issue directions in the instant suo motu writ petition.
Hindustan Coca Cola Pvt. Ltd. Vs Assistant State Tax Officer (Kerala High Court) The petitioner a Private Limited Company engaged in manufacture and supply of fruit-based beverages/drinks registered in State of Kerala under GST Act. According to the petitioner, the product manufactured by them was classified under HSN 2202 9920 under GST and discharging GST […]
Present scenario of outburst of deadly corona virus is very precarious and sensitive, as the lawyers and the st«ff rendering assistance to this Court and the judges ore vulnerable, thus in order to prevent such rampant of spread by taking preventive measures, I deem it appropriate to issue general directions to the departments concerned like the banks, financial institutions, Income tax authorities, authorities dealing with the erstwhile KVAT, GST, recovery of tax ox motor vehicles and building tax to defer the recovery proceedings or coercive measures till 06.04.2020.
Hence, the High Court of Kerala quashed the reassessment proceedings under section 17D of the Kerala General Sales Tax Act (KGST), 1961 since the provision does not prescribe any time limit and no additional material to undertake the fast track assessment was presented by the department.
