Supreme Court of India

Form Committee to look into Violation of Law by Multi-National Accounting Firms: SC

S. Sukumar Vs. The Secretary, Institute Of Chartered Accountants Of India & Ors.

Whether the Multi-National Accounting Firms (MAFs) are operating in India in violation of law in force in a clandestine manner, and no effective steps are being taken to enforce the said law. If so, what orders are required to be passed to enforce the said law....

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Service tax not payable on material supplied free of cost by service recipient during construction

Commissioner Of Service Tax Del Vs. M/s. Bhayana Builders (P) Ltd. Etc. (Supreme Court of India)

Whether, the value of goods/material supplied or provided free of cost by a service recipient and used for providing the taxable service of construction or industrial complex, is to be included in computation of gross amount (charged by the service provider), for valuation of the taxable service...

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Sectio 2(22)(e): Registered owner Vs. beneficial owner: SC refers matter to larger bench

National Travel Service Vs. CIT (Supreme Court of India)

National Travel Service Vs. CIT (Supreme Court of India) The question that arises in these appeals is as to whether Section 2(22)(e) of the Act gets attracted inasmuch as a loan has been made to a shareholder, who after the amendment, is a person who is the beneficial owner of shares holding not less than […]...

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In computing taxable turnover Trade Discount needs to be deducted: SC

M/s Maya Appliances (P) Ltd Vs Addl. Commissioner of Commercial Taxes & Ors (Supreme Court of India)

We direct that in computing the taxable turnover for the relevant years, the appellant would be entitled to a deduction of the trade discount, following the parameters laid down in paragraph 40 of the judgment in Southern Motors (supra) and as explained above. ...

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No Cenvat credit admissible on outward transportation services from factory to buyer’s premises

Commissioner of Central Excise & Service Tax Vs. Ultra Tech Cement Limited (Supreme Court)

Whether Goods Transport Agency (GTA) services availed for transportation of goods from place of removal to buyer’s premises will be considered as input service within ambit of Rule 2(l) of Cenvat Credit Rules, 2004?...

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No tax on JDA which never materialized for want of permissions

CIT Vs. Balbir Singh Maini (Supreme Court of India)

Capital gain arising under a Joint Development Agreement which never materialized for want of necessary permissions was nothing but a hypothetical income and the same could not, therefore, be taxed under section 45 read with section 48....

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Applicability of provisions of section 2(22)(e) to Beneficial Shareholder or Registered Shareholder- Supreme Court Ruling in National Travel v CIT

National Travel Service Vs. CIT (Supreme Court of India)

Sec. 2(22)(e) of the Income Tax Act, 1961 (the Act), is one such deeming provision that has remain point of litigation over various issues since its inception. One such issue is applicability of provisions of section 2(22)(e) when a shareholder is beneficial shareholder or registered shareholder....

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S. 11(6) Depreciation on acquisition of a capital asset treated as application of income

CIT vs. Rajasthan And Gujarati Charitable Foundation Poona (Supreme Court)

These petitions and appeals filed by the department arises due to the order of various High Courts, granting benefit of depreciation on the assets acquired by the assessee registered as charitable institutions under section 12A of the Income Tax Act (Act)....

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SC on payment of tax under Kerala Tax on Paper Lotteries Act, 2005

Assistant Commissioner, Commercial Taxes & Ors. Vs. LIS (Registered) (Supreme Court of India)

Assistant Commissioner, Commercial Taxes & Ors. Vs. LIS (Supreme Court of India) 1. The liability of the respondent- assessee to payment of tax under the Kerala Tax on Paper Lotteries Act, 2005 (herein after referred to as ‘the Act’) is the question that arises for determination in the present appeal(s). 2. While the prima...

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Demand notice of unpaid operational debt can be issued by a lawyer on behalf of operational creditor: SC

Macquarie Bank Limited Vs Shilpi Cable Technologies Ltd. (Supreme Court of India)

The present appeals raise two important questions which arise under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the Code). The first question is whether, in relation to an operational debt...

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