Supreme Court of India granted reduction of amount towards compounding of offence under section 137 of the Customs Act, 1962 as the impugned foreign currency is already confiscated in the matter.
SC issued notice and stayed proceedings initiated against Radha Soami Satsang Beas on an appeal challenging judgment of Punjab and Haryana HC
SC held that in case of transfer of Assessing Officer, the new AO can only continue proceeding from the stage at which earlier AO had left.
CIT Vs Mansukh Dyeing and Printing Mills (Supreme Court) Whether amount credited on account of revaluation of fixed assets and credited to the partners’ account is liable to be taxed u/s 45(4) of the Income-tax Act,1961? The department has made a major win today in the above case when the Supreme Court held that upon […]
Pre-existing dispute under IBC must be employed cannot be equated with even principle of preponderance of probability which guides a civil court at the stage of finally decreeing a suit.
Commissioner of Central Excise Customs And Service Tax Mysore Vs Such Silk International Ltd. (Supreme Court of India) High Court has dismissed the appeal filed by the Department under Section 130 of the Customs Act as not maintainable by observing that as the dispute can be said to be a dispute with respect to valuation […]
SC held that that on non-convertible debentures and fixed deposit of the value less than Rs.5,000/-, there shall not be any TDS leviable.
It is alleged that rather than exporting gold jewellery in terms of the obligation, the jewellery was diverted in the domestic market and in the process the offences were committed by the appellant.
Supreme Court of India held that income tax returns do not necessarily furnish an accurate guide of the real income particularly when parties are engaged in a matrimonial conflict. Hence, it is for the Family Court to determine what would be the real income based on a holistic assessment.
Polyflex (India) Pvt. Ltd. Vs CIT (Supreme Court) SC ruling denying 80IB claim to manufacturer of intermediary product for the end product falling under entry 25 of 11th schedule of Income Tax Act, 1961. Sub- Whether deduction u/s 80IB can be claimed by a manufacturer of an item which falls under entry 25 of the […]
