Supreme Court of India, in Deputy Commissioner St & Ors Vs Wingtech Mobile Communications (India) Pvt. Ltd. & Anr, declined to interfere with a High Court’s order.
The Supreme Court restored the ITAT’s order, ruling that a temporary lull in business due to the absence of a contract does not constitute cessation if the intention and efforts to continue (like correspondence and bidding) exist. The decision allows the non-resident company to claim business expenditure under Section 37(1) and set-off unabsorbed depreciation under Section 32(2).
Supreme Court admits appeal by Tesco Bengaluru against CESTAT ruling on reverse charge service tax for seconded overseas employees, relying on the Northern Operating Systems precedent.
Supreme Court lists appeals for joint hearing to determine if a tin layer classifies tinted float glass as ‘absorbent’ (Entry 7005 10 10) or under other colored glass.
The Supreme Court restored just compensation for the family of a deceased engineer, ruling that for MACT claims, income must include all emoluments and allowances, not just basic pay and DA, correcting the High Courts exclusion. The ruling mandates calculating income tax based on actual statutory slabs, rejecting arbitrary flat deductions, and applying the mandatory 50% future prospects for permanent employees under 40.
Supreme Court held that since all three conditions required to sustain levy of tax u/s. 3F(1)(b) of the Uttar Pradesh Trade Tax Act, 1948 are fulfilled, tax is leviable on ink and processing material used in printing lottery tickets.
The Supreme Court ruled that bona fide purchasing dealers who paid tax to registered sellers cannot be denied Input Tax Credit under the DVAT Act, even if sellers defaulted on tax deposit.
The Supreme Court ruled that a cheque dishonour complaint is maintainable against a Trustee who signed the cheque, even if the Trust is not arrayed as an accused, as a Trust is not a juristic person under the NI Act.
The Supreme Court ruled that a deed mortgaging property to secure one’s own performance is a Mortgage Deed, even if the title suggests a security bond, affirming deficit stamp duty demands. This provides critical legal clarity that when the principal debtor is the party providing the security, Article 40 of the Indian Stamp Act is the governing provision.
Supreme Court dismisses Revenue’s SLP, ruling that stock discrepancies found during a registered dealer’s survey must be addressed via GST Sections 73/74, not Section 130.
