The securities were treated as stock-in-trade in the hands of assessee. The amount received by assessee on the sale of the securities was considered for computing its business income.
Supreme Court ruling in Commissioner of Central Excise vs Addison & Co. Ltd. focused on refund claims for turnover discounts under the Central Excise Act, 1944.
Supreme Court ruling on Purolator India Ltd.’s excise duty dispute involving sales tax, cash discounts, and volume discounts under the Central Excise Act, 1944.
The Supreme Court clarifies the distinction between a bank guarantee and a contract of indemnity in State Bank of India vs. Mula Sahakari Sakhar Karkhana case.
The deceased, namely, Rajeev Jain was an employee of Hindustan Lever Limited. He was serving with the company past twenty-three years. On 03.11.2006, he committed suicide in his hotel room in Lucknow.
The Supreme Court ruled that Input Tax Credit cannot be claimed without proof of genuine transactions, reinforcing compliance under the KVAT Act.
The Supreme Court ruling clarifies that minors can legally be transferees of immovable property under the Transfer of Property Act.
Supreme Court allows Anil Rice Mill to seek review of High Court judgment. Pending review, the judgment cannot be cited as a legal precedent.
Supreme Court dismisses Income Tax Depts plea, setting aside the ₹5 lakh cost imposed by the Allahabad HC for incorrect reassessment actions.
Supreme Court rules ITAT cannot direct AO to consider new claims barred by time, reaffirming ITAT’s plenary powers under Section 254 of the Income Tax Act.
