Taxation Law - Excise Duty – Exemption – Use of Power – Clubbing of Units – Appellant sought to deny exemption under Notification No. 5/98-CE to Unit No.1 alleging that entire manufacturing process, including stages at Unit No.2, involved power – Supreme Court held that even if units are separate entities, when their processes are integrally connected and collectively...
Taxation Law - Customs – Refund of Duty – Short Landing or Pilferage – Goods not received by importer – Bill of Entry filed but no Out of Charge order issued – Authorities in dispute over whether goods were short-landed or pilfered – Held: Importer entitled to refund of duty under Section 23 of Customs Act as goods were lost before clearance for home consumption...
Income Tax – Faceless Assessment – Section 144B – Violation – Petitioners challenged assessment orders passed by Jurisdictional Assessing Officers despite statutory mandate of faceless assessment under amended provisions effective 01.04.2021 – Held: Assessment orders issued without following faceless regime are invalid – Quashed as contrary to Section 144B and F...
Income Tax – Reassessment – Bar of Limitation – Notice under Section 148 issued on 22.04.2024 to reopen A.Y. 2017–18 – Court held that under first proviso to amended Section 149, such notice is time-barred as six-year limitation expired on 31.03.2024 – Fifth and sixth provisos to Section 149 not applicable to extend limitation under first proviso – Held: N...
Taxation Law - Sales Tax – Trademark – Assignment of Intangible Asset – Situs of Trademark – Transaction Held as Export – Not Taxable Under State Sales Tax Law – Brand Acquisition Agreement transferring ownership of registered trademark ‘Crocin’ from Indian company to UK-based entity executed in London – Held: Trademark, being an intangible ass...
Sales Tax – Definition of Dealer – Club Activity – Profit Motive – Not Established – Exemption Granted – Respondent Hyderabad Race Club engaged primarily in horse racing – Petitioner State contended that activities like sale of oats, tender forms, and food items amounted to business – Held: Club not operating with profit motive – Transactions i...
Taxation Law – Condonation of Delay – Delay of 78 days in filing tax revision under Section 60 TNVAT Act – State cited administrative delay due to vacancy of Deputy Commissioner and Joint Commissioner – Delay held unjustified by one judge as cause shown lacked diligence and appeal was a “dummy” filed merely to defeat limitation – Held: Filing of incomplete...
Income Tax – Section 68 – Unsecured Loan – Identity – Creditworthiness – Genuineness – Loan of ₹10 crore received through banking channels from Shashi Foods confirmed by lender in statement during survey and in reply to notice u/s 133(6) – AO doubted creditworthiness based on enquiries into lender’s creditors and allegation of bogus purchases &ndas...
Sales Tax – Set-off – Interpretation of Rule 41D(3)(a) of Bombay Sales Tax Rules – Apportionment on Furnace Oil – Assessee claimed full set-off on purchase of furnace oil used in manufacture of goods, some of which were transferred to branches outside State – Tribunal applied pro-rata reduction of 6% under Rule 41D(3)(a) for such branch transfers – Revenue suppo...
Criminal Law – Arrest Warrants – Economic Offences – Petitioner challenged trial court’s order rejecting application under Section 70(2) CrPC for converting arrest warrants into bailable warrants – Allegation of tax evasion of over ₹10.65 crores under CGST and Customs Acts – Held: Offences are grave economic crimes with national fiscal implications – Pet...