Income Tax – Reassessment – Search Cases – Applicability of Old Regime – Search conducted on 09.05.2024 falling between 01.04.2021 and 01.09.2024 – By virtue of Section 152(3), provisions of Sections 147 to 151 as they stood prior to Finance (No.2) Act, 2024 applicable – Reassessment notice issued under Section 148 governed by old regime [Paras 5, 7].
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Service Tax – Event Management Service – Reverse Charge Mechanism – Classification of Service – Booking of Foreign Speakers for Leadership Summit – Demand of Service Tax Set Aside – Appellant conducted annual “Hindustan Times Leadership Summit” and engaged foreign speakers through international booking agents – Revenue sought to levy Service Ta...
Customs – Appeal to High Court – Section 130 Customs Act – Scope – Appeal lies only on substantial question of law – Concurrent findings of fact by Commissioner (Appeals) and CESTAT regarding Fe content of Iron Ore Fines exported – Questions raised by Revenue essentially factual in nature – No perversity or legal infirmity shown – Held: No substantia...
Taxation Law - International Taxation – Double Taxation Avoidance Agreement (DTAA) – India-Mauritius DTAA – Capital Gains – Indirect Transfers – Tax Avoidance – GAAR – TRC Conclusiveness – The Supreme Court held that capital gains arising from the transfer of unlisted equity shares, which were part of an impermissible arrangement under law, are not e...
Taxation Law - GST – Scope of Supply – Assignment of Leasehold Rights – Immovable Property – Not Taxable – Show cause notice issued under Section 74(1) CGST Act alleging non-payment of GST on assignment of leasehold rights in MIDC industrial plot – Revenue alleged transaction amounted to supply of services under Section 7 read with Schedule II – Held: Assi...
Criminal Law – Bail – Recall of Bail Order – Distinction Between Recall and Cancellation – Petition under Section 482 CrPC filed by CGST Department seeking recall of bail granted by learned CMM – Held: Challenge to grant of bail on merits stands on a different footing from cancellation of bail based on supervening circumstances – Bail order can be interfered wit...
Taxation Law - Income Tax – Penalty – Immunity under Section 270AA – Mandatory Nature – Assessee applied for immunity from penalty under Section 270AA after issuance of notice under Section 270A – Rectification under Section 154 allowed subsequently resulting in nil tax demand – Held: Section 270AA(3) is couched in mandatory terms – Once statutory conditio...
Income Tax – Amalgamation – Shares held as Stock-in-Trade vs Capital Asset – Taxability under Section 28 – Assessees, promoter investment companies, received shares of amalgamated company in lieu of shares of amalgamating company under a court-sanctioned scheme – Assessing Officer treated shares as stock-in-trade and taxed notional gains as business income – Tri...
Customs Law – Classification – Aluminium Shelving – CTI 76109010 vs. CTI 84369900 – Appeal Allowed – The Supreme Court held that aluminium shelving imported for mushroom cultivation is classifiable as 'Aluminium Structures' under CTI 76109010, not as 'Parts of Agricultural Machinery' under CTI 84369900 – The CESTAT's classification under CTI ...
Taxation – Customs Duty – SEZ to DTA Electricity – Levy Held Unconstitutional – Refund Allowed – Customs duty imposed on clearance of electricity from SEZ to DTA by Adani Power Ltd. was earlier struck down in 2015 by Gujarat High Court for lack of a charging event under Section 12 of the Customs Act, misuse of exemption power under Section 25, and violation of constit...