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Income Tax : The Supreme Court dismissed Madhumilan Syntex Ltd.'s appeal against prosecution for delayed TDS payment under the Income Tax Act. ...
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Income Tax : Comprehensive guide on CBDT's directives for AOs concerning the Abhisar Buildwell Supreme Court verdict. Dive into its implication...
CIT Vs Calcutta Knitwears (Supreme Court of India) In taxing statutes, even if the literal interpretation results in hardship or inconvenience, it has to be followed (G.P. Singh’s Principles of Statutory Interpretations, 12th Ed, 2010, Lexis Nexis Butterworths Wadhwa Nagpur; Bennion on Statutory Interpretation, 5th Ed., Lexis Nexis, p. 863; Vepa P. Sara thi, Interpretation […]
It is trite law that a taxing statute is to be construed strictly. In a taxing Act one has to look merely at what is said in the relevant provision. There is no presumption as to a tax. Nothing is to be read in, nothing is to be implied.
In present facts of the case while allowing the appeals, the Hon’ble Supreme Court observed that (i) subordinate legislation has the same superior force as it supplements a mechanism/ procedure (ii) while interpreting the statutory provisions, the Court is always supposed to keep in mind the object or purpose for which the statute has been enacted
In present facts of the case, the Hon’ble Supreme Court after taking definition of the particular product in HSN, applying common parlance test, principal purpose test and end user test held that the product in dispute is Modified Vapour Absorption Chillers (MVAC) falling under heading 84.18 of the Schedule to the Central Excise Tariff Act, 1985 and not heat pumps.
Tribunal/Court cannot award compensation exceeding the amount so claimed under Motor Vehicles Act, 1988. The Tribunal/Court ought to award ‘just’ compensation which is reasonable in the facts relying upon the evidence produced on record.
In present facts of the case, the Hon’ble Supreme Court held that the builder should also pay interest for it’s default to the buyer at the same rate (18% in this case), which is collected by him on default of the buyer as per agreement.
In present case, the Hon’ble Supreme Court enhanced the compensation under Motor Vehicles Act, 1988 by observing that the income of people of the similar status as of deceased have to be taken into consideration
In present facts of the case, the Hon’ble Supreme Court while dismissing the appeals held that the offence under Section 138 of the Negotiable Instruments Act 1881 would not be committed if the drawer of the cheque pays a part or whole of the sum between the period when the cheque is drawn and when it is encashed upon maturity, then the legally enforceable debt on the date of maturity would not be the sum represented on the cheque; and when a part or whole of the sum represented on the cheque is paid by the drawer of the cheque, it must be endorsed on the cheque as prescribed in Section 56 of the Act. If the cheque that is endorsed is dishonoured when it is sought to be encashed upon maturity, then the offence under Section 138 will stand attracted
Checkmate Services P. Ltd Vs CIT (Supreme Court) The factual narration reveals two diametrically opposed views in regard to the interpretation of Section 36(1)(va) on the one hand and proviso to Section 43(b) on the other. If one goes by the legislative history of these provisions, what is discernible is that Parliament’s endeavour in introducing […]
Explore the impact analysis of the recent Supreme Court verdict in Checkmate Services Pvt Ltd vs CIT-1 on the treatment of delayed Employee PF Contribution payment under the Income Tax Act. Understand the background, adjustments in summary proceedings, Finance Act 2021 amendments, and the way forward for ongoing litigation.
