Supreme Court of India

Give Cognizant opportunity to explain its stand on 2 year old Tax dispute: SC

Cognizant Technology Solutions India Pvt. Limited Vs DCIT (Supreme Court)

Whether assessee’s purchase of its own shares, which was not in accordance with sec.77A of the Companies Act, would amount to dividends within the meaning of sec.2(22)(d) or 2(22)(a), and consequently, liable for tax u/s. 115-O in the hands of the assessee company. Whether the company had failed to remit the taxes within the stipulated ...

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Declare national financial emergency in Country in the wake of coronavirus

Centre For Accountability And Systemic Change (CASC) has filed a petition in Supreme Court for direction to Ministry Of Home Affairs/Central Government to declare national financial emergency in the Country in the wake of the coronavirus (COVID-19) pandemic. Relevant text of the Petition is as follows:- MOST RESPECTFULLY SHOWETH: 1. Writ ...

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SC explains when additional Tax under Section 143(1-A) can be imposed

Rajasthan State Electricity Board Vs. DCIT (Supreme Court)

Rajasthan State Electricity Board Vs. DCIT (Supreme Court) Section 143(1-A) can only be invoked where it is found on facts that the lesser amount stated in the return filed by the assessee is a result of an attempt to evade tax lawfully payable by the assessee. The burden of proving that the assessee has so […]...

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Capital Gain was liable to be taxed at the time of receipt of last cheque when rights on immovable property extinguished

Seshasayee Steels P. Ltd. Vs ACIT (Supreme Court)

Assessee entered into an agreement to sell a property with Builders Limited for a total sale consideration of Rs.5.5 crores. Pursuant to this agreement to sell, a Power of Attorney was by which, assessee appointed one director of Builders Ltd. to execute and join in execution the necessary number of sale agreements and/or sale deeds in re...

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SC indefinitely extends limitation period for filing appeals

In re Cognizance for Extension of Limitation (Supreme Court of India)

In re Cognizance for Extension of Limitation (Supreme Court) This Court has taken Suo Motu cognizance of the situation arising out of the challenge faced by the country on account of Covid-19 Virus and resultant difficulties that may be faced by litigants across the country in filing their petitions/applications/suits/ appeals/all other p...

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Mere permission to construct on land not results in transfer for capital gain tax

Seshasayee Steels P. Ltd. Vs ACIT (Supreme Court)

SC held that, under the sale agreement, the Taxpayer had granted mere license to Vijay Shanthi Builders Ltd. which cannot be equated with possession of property which necessarily requires control over the property and not mere occupation and, hence, provisions of Transfer of Property Act, 1882 were not attracted....

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Amusement parks entitled to only one benefit either U/s. 3(2) or U/s. 3(5)(a) of Bombay Entertainments Duty Act: SC

State of Maharashtra & Ors. Vs PAN India Paryatan Limited & Anr. (Supreme Court of India)

State of Maharashtra & Ors. Vs PAN India Paryatan Limited & Anr. (Supreme Court) Once an admission ticket is granted, it is not in terms of Section 3(2) of the Act but only in terms of Section 3(1)(b) of the Bombay Entertainments Duty Act, 1923. Section 3(2) of the Act has no applicability for a […]...

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SC stays HC orders staying Coercive Recovery of taxes etc during Corona Virus crisis

Union of India Vs P.D. Sunny & Ors. (Supreme Court)

Union of India Vs P.D. Sunny & Ors. (Supreme Court of India) The Registry is directed to accept these special leave petitions against the judgment and order(s) passed by the High Court of Judicature at Kerala, Ernakulam Bench in Writ Petition (Civil) No.8231/2020 and of the High Court of Judicature at Allahabad, Allahabad Bench in [&h...

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CA Challenges Constitutional validity of Vivad se Vishwas Act 2020

CA Satyaprakash Singh from Mumbai has challenged Constitutional validity of Section 9 of Vivad se Vishwas Act, 2020 by FIling a Public Interest Petition with Hon’ble Supreme Court of India. By this Public Interest Petition, the Petitioner is impugning the Constitutional validity of Section 9 of Vivad se Vishwas Act, 2020. The Respon...

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Dues of secured creditor have preference over Crown debts: SC

Connectwell Industries Pvt. Ltd. Vs Union of India (Supreme Court)

Connectwell Industries Pvt. Ltd. Vs Union of India (Supreme Court) It is trite law that, unless there is preference given to the Crown debt by a statute, the dues of a secured creditor have preference over Crown debts. Rule 2 of Schedule II to the Act provides for a notice to be issued to the […]...

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