Taxation Law - Entry Tax on IMFL and Beer – Liability of Manufacturer – Section 3 and 3B of M.P. Entry Tax Act – Levy Upheld – The appellant-manufacturer challenged the liability to pay entry tax on IMFL and beer, contending that sales were made to Government warehouses which in turn sold to retailers, making warehouses liable as ‘dealers’ – Supreme Court ...
Service Tax – Healthcare Services Exemption – Section 73 of Finance Act – Cord Blood Stem Cell Banking Covered Under Healthcare Services – Supreme Court held services of enrolment, collection, processing, and storage of umbilical cord blood stem cells fall within “Healthcare Services” under Notification No. 25/2012-ST – Held: Such services are preventive i...
Taxation Law - Entertainment Duty – Prohibition on Convenience Fees – Government Orders Quashed – Petitioners challenged the prohibition on collection of convenience fees/service charges for online booking of cinema tickets imposed by clause 3(d) of G.O. dated 4 April 2013 and clause (a) of G.O. dated 18 March 2014 – Held: State Government lacks statutory power under the Ma...
Taxation Law - Income Tax Act – Capital vs. Revenue Receipt – Sales Tax Incentive under Maharashtra Schemes – Capital Receipt Not Taxable – The Court was called upon to decide whether sales tax incentives received by Bajaj Auto Ltd. and Reliance Industries Ltd. under the 1979 and 1983 State Industrial Promotion Schemes constituted capital or revenue receipts – The Tri...
Taxation Law - Minimum Alternate Tax – Provision for Doubtful Debts – Whether Addable Under Clause (b) or (c) – Addition Held Invalid – The Assessing Officer added ₹2,49,73,218/- to the book profits under clause (c) of Explanation to Section 115JA of Income Tax Act, treating it as provision for liability – CIT(A) upheld the addition under clause (b), holdi...
Foreign Exchange Violation – Residency under Section 2(p) and 2(q) of FERA – Appeals Dismissed – The Appellants including three daughters of the Shroff family, their mother as legal heir of Kishor Shroff, and Sujay Trading Corporation Pvt. Ltd., challenged penalty orders passed by the Enforcement Directorate and confirmed by the Tribunal for purchase of shares in an Indian compan...
Taxation Law - Income Tax – Reassessment under Section 147 – Full and True Disclosure – Reopening Beyond Four Years Invalid – The petitioner, BPCL, challenged reassessment notices issued under Section 148 for AYs 2013-14 and 2014-15 – Revenue alleged failure to disclose facts regarding dividend income received from BPCL Trust and wrong deduction under Section 32AC &nd...
Taxation Law - Income Tax Act - Reassessment Proceedings – Validity of Notice – Notice Time-Barred – Reassessment quashed – The petitioner challenged the notice dated 29.07.2022 issued under Section 148 and the order dated 29.07.2022 passed under Section 148A(d) of the Income Tax Act for AY 2013-14 – Held: In view of the Supreme Court’s ruling in Union of India ...
Taxation Law - Export Supply – Compensation Cess – Exemption Denied – Levy Deferred – Petitioners challenged the levy of Compensation Cess at 160% on supply of branded tobacco to merchant exporters for export, which was otherwise taxed at a concessional GST rate of 0.1% under Notification Nos. 40/2017 and 41/2017 – Held: Though no separate exemption notification was i...
Taxation Law - Capital Gains – Timing of Transfer under JDA – Section 2(47)(v) – Substantive Assessment from A.Y. 2007–08 – Not Taxable in A.Y. 2006–07 - Held: The transaction under the unregistered Joint Development Agreement dated 23.11.2005 did not amount to “transfer” under Section 2(47)(v) read with Section 53A of the Transfer of Property Act in...