Income Tax – Deduction under Section 80P(2)(a)(i) – The appeals involved the interpretation of Section 80P(2)(a)(i) and Section 80P(4) of the Income Tax Act, concerning the eligibility of cooperative societies providing credit facilities to their members. The Supreme Court held that the benevolent provisions of Section 80P must be read liberally and in favor of the assessee. The Court ...
Tax Legislation – Interpretation – Constitutionality – Petitioner challenged the upper limit of Rs. 5 Crore for disputed tax under Section 9(a)(i) of VSV Act as arbitrary and violative of Article 14 of the Constitution – Supreme Court precedents affirmed that tax laws should be strictly construed and the legislative domain should be respected – The Court held that fix...
Land Acquisition Act, 1894/2013 - Sections 23(1A), 23(2), and 28 - Compulsory Acquisition - Interest and Additional Compensation - Held, in compulsory acquisition, an appreciation price at 12% per annum from the date of notification is payable. Decree holder entitled to benefits under Sections 23(1A), 23(2), and 28. [Para 11]
Arrears Paid in Installments - Interest Calculation - Analy...
Taxation Law - Validity of Tribunal Orders - Section 57 Haryana VAT Act - Quorum of Members - Order Passed by Remaining Members after Retirement of One Member - The court held that when a matter is heard by a full-member bench, the decision must be pronounced by the same bench. If one member retires before the pronouncement, the bench is no longer validly constituted, and the remaining members can...
Taxation Law - Imposition of Higher Tax Rate - Judicial Review - The petitioners challenged the demand for higher tax by the State of Punjab after an initial reduction in the tax rate per draw. The court held that the State can lawfully collect tax only at the rate notified under the Act, and any tax collected beyond the notified amount is without legislative authority and illegal. The demand for ...
Service Tax – Penalty for Non-Payment – Appeal against Tribunal's order imposing penalty under Section 78 of the Finance Act, 1994 for delay in depositing service tax – Service tax collected for legal consultancy services, which were not taxable at the time of collection – Appellant deposited the amount after insistence by Revenue – Tribunal held willful suppressi...
Taxation Law – VAT on Sale of Flats – Challenge to Validity of Sections and Rules – Developers contest inclusion of land value in VAT – Held, building contracts involving sale of flats include an element of sale of goods – Such contracts are species of works contracts under Article 366(29A)(b) of the Constitution – VAT applicable only on value of goods incorpora...
Personal Injury Compensation - Motor Vehicle Accident - Assessment of compensation for injuries sustained in a road accident - Claimant suffered multiple fractures to the left ankle, underwent surgeries, and incurred medical expenses - Claimant's income assessed based on income tax return prior to the accident - Assessment of permanent physical disability and future loss of earnings - Award fo...