The issue involved classification of land for capital gains taxation. The Court held that revenue records and evidence of agricultural activity prevail, making the land exempt from capital gains tax.
The Court held that where an assessment is passed ex parte, fairness requires giving the taxpayer a chance to present their case. The matter was remanded upon partial tax deposit for fresh decision on merits.
The court held that service tax paid on foreign exchange profit was not taxable and should have been refunded. It ruled that limitation cannot justify retention of wrongly collected tax.
The Court held that procedural delay in filing Form 10B should not result in denial of exemption. It emphasized that substantive benefits under Sections 11 and 12 must be granted where eligibility exists.
Madras High Court held that capital profit on the sale of the Fixed Assets of the Company cannot be taken directly to the Reserves & Surplus in the Balance Sheet and the same has to be routed through the Profit & Loss Account to arrive at the correct book profits u/s. 115JB of the Income Tax Act. Accordingly, the appeal stands dismissed.
The court held that the revised 18% GST rate is applicable, but deferred recovery of the 6% differential tax as reimbursement from government authorities was pending.
The case examined whether purchase tax liability could be enforced when system defects prevented payment. The court held that software issues causing revenue-neutral outcomes made the demand unsustainable.
The Court held that failure to upload the DRC-07 summary affects appellate rights. Recovery proceedings were stayed until compliance is completed.
The ruling clarifies that an annual return is incomplete without the reconciliation statement where required. Late filing of GSTR-9C was treated as delayed filing of the return itself, justifying penalty under GST law.
The Court held that two assessment orders for the same discrepancies and tax period cannot coexist. It quashed one order and allowed proceedings under the other to continue.
