AO held that assessee had made repayment of the loan to M/s. Tata Finance Corporation in that financial year to the extent of Rs. 6,71,939 in cash against the loan taken for commercial vehicle.
The company had sought a NIL tax deduction certificate under Section 195, arguing that the payments did not constitute royalty either under domestic tax law or the DTAA, and that Intelsat had no permanent establishment (PE) in India.
Sikkim High Court sets aside tax authority’s order, allowing SICPA India Pvt. Ltd. to claim refund of unutilized Input Tax Credit upon business discontinuation.
Calcutta High Court remands Sudarshan Sarker’s GST appeal, citing an unreasoned ex-parte order and non-compliance with Section 107(12) of the Act.
SC upheld Gujarat HC’s decision to quash reassessment notice issued by Income Tax Department, citing lack of new material & change of opinion
Court rules income from white button mushroom cultivation under controlled conditions qualifies as agricultural income, exempt from tax, emphasizing ‘soil’ as ‘land’ and purpose over strict classification.
The Gujarat High Court invalidated a tax reopening notice against Hemanshu Ramniklal Shah, ruling it was based on a “change of opinion” rather than new material, after the original assessment was already scrutinized.
Karnataka High Court rules Ace Designers’ write-off of foreign subsidiary investment is a business loss, not capital loss, citing commercial expediency.
ITAT Delhi overturns Rs. 74 lakh penalty on Singh Consultancy. Notice ambiguity in Section 271(1)(c) proceedings deemed fatal, reinforcing clarity in tax charges.
The Supreme Court of India dismissed petitions from major telecom companies seeking relief on AGR dues, including interest and penalties, following previous adverse rulings.
