The Court set aside a 3.5% TDS certificate after the PE finding relied upon by the Revenue was overturned by the ITAT. The earlier 1.5% rate was restored due to lack of legal foundation.
Allahabad High Court held that toll plaza receipts not mandatory for justifying actual physical movement of goods since e-way bill and tax invoice duly produced. Accordingly, order not justified in the eyes of law.
While search proceedings were still pending, the Court permitted release of seized jewellery and cash after petitioners deposited amounts against possible tax demand. No view was taken on merits of explanations.
Gujarat High Court held that reopening of assessment u/s. 147 of the Income Tax Act solely on the basis of material found by AO of searched person without satisfaction note as prescribed under section 153C is untenable in law.
Karnataka High Court held that clinical trial to foreign service recipients is not liable to tax under GST since the place of recipient of the services provided by the petitioner is outside the territory of India. Accordingly, present writ is allowed.
Chhattisgarh High Court allows the bail application in Rs. 4000 Crore liquor scam case in the absence of any distinguishing material against the applicant. Accordingly, the present bail application is allowed.
Jharkhand High Court held that levy of electricity duty on the basis of ‘net charges’ as introduced by the 1st Amendment Act, 2021 is ultra vires to the Bihar Electricity Duty Act, 1948. Accordingly, 1st Amendment Act, 2021 and the Rules, 2021 are declared ultra vires to the Act, 1948.
The Supreme Court examined whether shares received on amalgamation can be taxed as business income when held as stock-in-trade. It ruled that tax arises only if the substitution results in a real, commercially realizable gain, not a mere statutory replacement.
The issue was denial of regular 80G approval due to an inadvertent filing under an incorrect clause. The Tribunal held that a procedural mistake should not bar substantive adjudication.
The issue was whether total purchases could be treated as unexplained expenditure under section 69C. The Tribunal held that only the profit element is taxable in a small retail trading business.
