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Limitation Period under Section 144C vis-à-vis Section 153 of the Income-tax Act: Supreme Court Clarifies DRP Timelines, (ASSISTANT COMMISSIONER OF INCOME TAX VS SHELF DRILLING RON TAPPMEYER LIMITED)
The issue before the Supreme Court concerned the correct
interpretation of the limitation provisions under Section 153 of the Income-tax
Act, 1961, in cases where the special assessment procedure under Section 144C,
i...
Hotel Premises Constitute Fixed Place PE: Supreme Court in Hyatt International Southwest Asia Ltd. Case, (Hyatt International Southwest Asia Ltd. v. Additional Director of Income Tax)
The Supreme Court, in Hyatt
International Southwest Asia Ltd. v. Additional Director of Income Tax,
examined whether the appellant, a company incorporated in Dubai and a tax
resident of the United Arab Emirates, had a...
Whether Sumptuary allowance granted to judicial officer is exempt from payment of Income Tax?
Whether Sumptuary allowance granted to judicial officer is exempt from payment of Income Tax?The sumptuary allowance is a specific benefit provided to judicial officers in India to cover entertainment expenses. This allo...
Reduction of Share Capital Constitutes ‘Transfer’ Under Section 2(47): Supreme Court Reaffirms Capital Loss Allowability in PCIT v. Jupiter Capital Pvt. Ltd. (2025)
The
Supreme Court has reiterated the settled legal position that reduction of share
capital leading to extinguishment of shareholder rights amounts to a “transfer”
within the meaning of Section 2(47) of the Income...
Offence under Section 276CC of Income Tax Act: Supreme Court Clarifies “First Offence” and Compounding Guidelines VINUBHAI MOHANLAL DOBARIA Vs CHIEF COMMISSIONER OF INCOME TAX & ANR
The Supreme Court examined the scope and
interpretation of Section 276CC of the Income Tax Act, 1961, and the
applicability of the Guidelines for Compounding of Offences under Direct Tax
Laws, 2014, in the context of ...
GST ITC on Netting-Off Payments between Branch and Head Office: AAAR Tamil Nadu in Sanghvi Movers Ltd.
The Appellate Authority for Advance Ruling,
Tamil Nadu, examined the admissibility of input tax credit in the hands of a
branch office where payments to the head office were settled through
netting-off of receivables ...
Input Tax Credit Cannot Be Denied Solely Due to Retrospective Cancellation of Supplier’s GST Registration Without Proving Non-Genuine Transactions: Sanchita Kundu & Anr. v. Assistant Commissioner of State Tax (Calcutta High Court, 2022)
The
petitioners, Sanchita Kundu & Another, approached the Calcutta High
Court by filing writ petitions challenging the action of the GST authorities
whereby the benefit of Input Tax Credit (ITC) was denied through...
Admissibility of Input Tax Credit on Book Adjustment Settlements under GST: Analysis of Kerala AAR Ruling in Paragon Polymer Products Pvt. Ltd. Case
The
applicant, M/s. Paragon Polymer Products Pvt. Ltd., engaged in the
manufacture and trading of footwear, sought an advance ruling on whether Input
Tax Credit (ITC) would be admissible in cases involving sale and bu...
Prosecution under Section 276C(1) Cannot Continue After Settlement Commission Order Granting Penalty Immunity: Supreme Court, VIJAY KRISHNASWAMI VERSUS THE DEPUTY DIRECTOR OF INCOME TAX (INVESTIGATION)
The Supreme Court examined the legality of
continuation of prosecution under Section 276C(1) of the Income Tax Act, 1961,
after the Income Tax Settlement Commission had passed an order granting
immunity from penalty u...
GST Confiscation for Excess Stock Without Following Sections 73/74 Is Unsustainable – Allahabad High Court | M/s Janta Machine Tools v. State of U.P. (2025)
In M/s
Janta Machine Tools v. State of Uttar Pradesh & Others, the Allahabad
High Court examined the legality of confiscation and penalty proceedings
initiated under Section 130 of the GST Act solely on the basis ...