In case of Unitech Ltd. Vs. UOI Hon’ble SC has set aside the order passed by Bombay HC in a writ petition filed by asseessee against the order under section 269UD. Hon’ble SC have held compulsory pre-emptive purchase illegal.
In the case of Sodexo SVC India Private Limited. Vs The State of Maharashtra and Others, Bombay High Court has held that Sodexo meal vouchers are utility goods- Octroi & LBT can be levied on the same. Sodexo has preferred an appeal against the verdict in Supreme Court
Supreme Court held In the case of Commissioner of Customs vs. M/S. G.M. Exports & Others that the final anti-dumping duty only incorporates the provisional anti-dumping duty within itself, but in the manner provided by Rule 13 of Anti-dumping rules.
The Hon’ble Supreme Court in the case of Nestle India Ltd. held that partial exemption available under exemption notifications does not require assessee to clear the goods by way of sale only because in the notification expression “allowed to be sold”
The Hon’ble Supreme Court in the case of Shree Bhagwati Steel Rolling Mills held that if the charging section of the Act do not provide for levy of interest on late payment of duty then the rules though made thereunder could not be enforced to levy and demand interest as such
Supreme Court held In the case of ACIT vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. that Section 147 authorises and permits the Assessing Officer to assess or reassess income chargeable to tax if he has reason to believe that income for any assessment year has escaped assessment.
Supreme Court held In the case of State Bank of Patiala vs. CIT that it is well settled that a subject can be brought to tax only by a clear statutory provision in that behalf. Interest is chargeable to tax under the Interest Tax Act
Same Engines India Pvt. Ltd. (the Respondent) had imported components of Tractors from Foreign party and filed Bill of Entry stating the price at which the goods were imported and seeking to pay the Customs duty thereon.
Loan given to the Directors was not from the borrowed funds. Therefore, interest liability of the assessee towards the Bank on the borrowing which was taken by the assessee had no bearings because otherwise, the assessee had sufficient funds of its own which the assessee could have advanced
DCIT vs. Zuari Estate Development & Investment Co Ltd (Supreme Court) After going through the detailed order passed by the High Court, we find that the main issue which is involved in this case is not at all addressed by the High Court.
