The Supreme Court rejected the appeal due to unexplained delay, leaving the High Court ruling intact. The decision confirms that depreciation is allowable where leased assets are used in business.
The Court held that a photocopy of a power of attorney cannot be relied upon without fulfilling legal requirements for secondary evidence. As the authority to sell was not established, the sale deeds were declared invalid.
SC allowed classification of Odomos under HSN 38089191 to stand, holding that market identity and consumer understanding supported its treatment as a mosquito repellent.
The issue was whether reassessment notice issued after six years was valid. The Court upheld that such notices are time-barred and cannot be sustained under law.
The Supreme Court affirmed that payments for cloud computing services are not royalty where no intellectual property rights are transferred. It held that mere access to services does not amount to use of equipment or technology under tax law.
The Supreme Court held that reassessment notices issued after the six-year limit are barred. It affirmed that expired cases cannot be revived under later provisions.
The issue was whether addition based on estimated yield was valid. The SC upheld that without material evidence, such additions are unsustainable and cannot be based on suspicion.
The Supreme Court held that provisional attachment under GST law ceases once a final adjudication order is passed. The key takeaway is that such attachment cannot continue beyond the conclusion of proceedings.
Supreme Court in ACIT vs Marico Ltd held that reassessment under Section 148 is invalid where the Assessing Officer had already examined the issue in original assessment proceedings, reaffirming that reopening on a mere change of opinion is without jurisdiction.
Supreme Court affirmed that insolvency proceedings under IBC do not bar prosecution under Section 138 of NI Act. It held that criminal liability of directors continues independently. Ruling clarifies that both laws operate in separate spheres.
