The issue was whether mark-to-market gains on forward contracts are taxable before maturity. The Court held that such gains are not taxable as they are not real income until actually realized.
The case concerned rejection of reply without addressing all contentions. The Court held that incomplete consideration makes the order unsustainable and remanded the matter.
The petitioner’s claim that delay was caused by a tax consultant was rejected. The Court held that the Tribunal’s finding was not perverse and required no interference.
India cuts excise duty on petrol and diesel to offset global oil price surge amid war. Move aims to reduce fuel costs, curb inflation, and protect consumers and businesses.
The Court examined whether a single notice covering multiple years was valid. It held that differing limitation periods make such notices prejudicial and upheld separate adjudication.
The issue was whether a single show cause notice can cover multiple years. The Court held such composite notices invalid and directed issuance of separate notices.
Kerala High Court held that condonation of delay in filing of the annual returns only averts penalty and prosecution and doesn’t remove disqualification of the directors of the Company. Accordingly, the writ is disposed of and order is quashed.
The Kerala High Court held that issuing a single GST notice covering multiple assessment years is unsustainable as different limitation periods apply for each year, potentially prejudicing taxpayers.
The court issued guidelines requiring prior intimation to the presiding judge before arrests in court premises and created grievance committees to address disputes between police and lawyers.
The Kerala High Court held that freezing a bank account suspected to contain proceeds of crime must follow the attachment procedure under Section 107 of the BNSS. The debit freeze imposed under Section 106 was therefore quashed.
