The Honble Supreme Court while allowing appeal observed that there is no provision under Section 10 of the Contract Labour (Regulation and Abolition) Act, 1970 that the workers/employees employed by the contractor automatically become the employees of the appellant and/or the employees of the contractor shall be entitled for automatic absorption and/or they become the employees of the principal employer.
The Honble Supreme Court observed that effecting transfer subject to a condition of providing the basic amenities and basic physical needs to the transferor – senior citizen is sine qua non for applicability of sub-section (1) of Section 23. In the present case, it was not even pleaded by respondent no.1 that the release deed was executed subject to such a condition.
The Hon’ble Supreme Court determined compensation under Motor vehicles Act, 1988 on basis of Income Tax Return which was held to be a statutory document on which reliance be placed, where available, for computation of annual income.
Whether an insurance company even after receiving the insurance premium, can refuse to honour its contract when the insured person dies immediately after taking the home loan.
Union government must now take all expeditious steps to ensure that filing by the Union government of all appeals and proceedings before the High Courts as well as the revenue tribunals, including the CESTAT and the ITAT should take place in the e-filing mode.
Supreme Court granted bail in clandestine manufacture and supply of chewing tobacco without payment of leviable duties and tax as the petitioner has already undergone incarceration for more than four months. Further, there are no apprehension of tampering, intimidating or influencing.
Bar member challenges VP appointments at Income Tax Appellate Tribunal. High Court dismisses quo warranto petition. Legal eligibility affirmed.
Circular No. 643/34/2002-CX dated July 1, 2002, issued by CBEC clarifying the doubts regarding Valuation Rules with respect to goods when sold partly to related persons and partly to independent buyers, is not violative of Central Excise Act 1994 and Central Excise Valuation Rules 2000.
The Income Tax Act, 1961 deals essentially with the imposing of taxes, exemptions and procedure to be followed therewith. The income that is accrued or deemed to accrue on the tax payer is the tax income and the application and diversion of income are two fundamental yet confusing concepts in the Indian Tax law. Also, both of these are court made concepts.
Supreme Court held that advances paid for the purpose of purchase and/or acquisition of the assets would certainly amount to utilization of the capital gains for the purpose of purchasing and/or acquiring the aforesaid assets and accordingly capital gain exemption available.
