Income Tax – Exemption under Section 10B(8) – Assessee failed to furnish declaration before the due date of filing original return of income under Section 139(1) – Supreme Court held both conditions of furnishing declaration and doing so before due date are mandatory – Non-compliance bars exemption claim [Paras 1-14].
Filing of Declaration – Time Limit Ma...
Taxation Law - Customs Law – Import Regulations – Obscenity – issue of whether the import of body massagers, perceived as adult sex toys, contravened the Customs Act, 1962, and the Indian Penal Code. The Court evaluated the interpretation of the term 'obscene' and its applicability to the imported goods under Customs Notification No. 1/1964-Customs. [Para 2, 4-6, 11...
Service Tax – Manpower Recruitment or Supply Agency – Secondment of Employees – The Supreme Court examined whether the secondment of employees from group companies abroad to the respondent constituted a "manpower recruitment or supply agency service" under Section 65(68) read with Section 65(105)(k) of the Finance Act, 1994. The Court held that the secondment agreement,...
Taxation – State Sales Tax – Silk Fabrics – The Supreme Court addressed the question of whether the Delhi Government was authorized to levy a state sales tax on silk sarees, considering the provisions of the Delhi Sales Tax Act, 1975, the Additional Duties of Excise (Goods of Special Importance) Act, 1957, and the interplay with the Constitution of India. The primary issue was th...
Income Tax Reassessment - Validity of Proceedings - Assessee's Failure to File Regular Balance Sheet and Profit and Loss Account for Assessment Years 1990-91, 1991-92, and 1992-93 - Discrepancy in Capital and Current Accounts - Assessee's Justification for Non-filing Based on Department's Seizure of Documents - Assessment Officer's Relying on Balance Sheet Submitted for Loan to Sou...
Income Tax – Deduction of Tax at Source – Section 194-H – The Supreme Court clarified the applicability of Section 194-H of the Income Tax Act, 1961, concerning tax deduction at source on commission or brokerage payments. The issue involved the assessment of whether cellular service providers were liable to deduct tax at source on the income/profit component in the payments recei...
Income Tax – Reassessment Notices – Transition to New Provisions – High Courts quashed reassessment notices issued under unamended Section 148 after 01.04.2021 – Supreme Court converted such notices into those issued under Section 148A (new provisions) – Directed Revenue to comply with new procedural requirements – Notices deemed to be issued under amended Act t...
Petition for Quashing Complaint and Proceedings – Section 482 Cr.P.C. – Petitioners challenging Complaint No.1368 of 2014 and related orders for alleged tax evasion under Sections 276C and 278B of the Income Tax Act, 1961 – Argument of petitioners centered on no evasion of tax, only delayed payment with interest [Paras 1, 10].
Facts of the Case – Assessment Year 2012-13 ...
GST Registration Cancellation – Challenge against retrospective cancellation – Petitioner contests order dated 07.10.2022 for cancellation of GST registration from 02.07.2017 and the Show Cause Notice dated 23.09.2022 – Registration cancellation without proper justification or notice for retrospective effect deemed inappropriate. [Para 1, 5-7]
GST Compliance – ...
Taxation – Interest on Delayed Refunds – Section 56 of CGST Act – Supreme Court held that interest at the rate of 6% per annum applies unless covered by the proviso to Section 56 – Proviso applies where refund arises from an order passed by adjudicating authority or court – In present case, no such order existed, hence 6% interest rate applies – High C...