Supreme Court

Income Tax Settlement Commission's Purpose Is To Give Assessee Chance To Disclose Undisclosed Income To Seek Immunity : Supreme Court

A Division bench of the Supreme Court, while hearing an appeal, discussed the objective and purpose behind setting up a Settlement Commission under the Income Tax Act 1961.

Excise Duty Exemption | To Determine If A Product Falls Under Description "Intravenous Fluids”, Its Composition & Not Its Use Matters : Supreme Court

The Supreme Court has ruled that in order to determine whether a product would fall under the description of “Intravenous Fluids” so as to be eligible for exemption from excise duty, it is the composition of the product in question which is relevant and not whether the product is used for treatment of any particular disease.

Interest Income Earned On Deposits By Clubs In Banks Which Are Corporate Members Taxable; Principle Of Mutuality Not Applicable: Supreme Court

The Supreme Court has ruled that the interest income earned on fixed deposits (FDs) made by Clubs in the banks which are members of those Clubs has to be treated like any other income from other sources within the meaning of Section 2(24) of Income Tax Act, 1961. The bench of Justices B.V. Nagarathna and Prashant Kumar Mishra said that the principle of mutuality would not apply to interest income earned on FDs made by Clubs in the banks irrespective of whether the banks are corporate members of the Club or not.

Delhi High Court

Delhi High Court Stays The Income Tax Reassessment Proceedings Initiated Against Oxfam India

Case Title: Oxfam India Versus Deputy Commissioner Of Income Tax

The Delhi High Court has stayed the income tax reassessment proceedings initiated against Oxfam India.

Delhi High Court Directs Adjudicating Authority To Process Blackberry’s Claim Of Interest Under Section 11BB Of The Excise Act

Case Title: Blackberry India Pvt Ltd. Versus The Assistant Commissioner, Central Excise And CGST Division

Kerala High Court

Classification Of Dr.Reddy’s Senquel-AD As A Mouthwash Or A Medicament: Kerala High Court Remands The Matter Back

Jharkhand High Court

Jharkhand High Court Quashes Arbitrary Forfeiture Of Earnest Money By CCL, Orders Release

The Jharkhand High Court has taken a strong stance against the arbitrary cancellation of a contract and the subsequent forfeiture of earnest money by Central Coalfields Limited, a public sector coal supplier, and declared the forfeiture of earnest money by a public sector coal supplier as "indefensible" and "arbitrary."

Allahabad High Court

Allahabad High Court Imposes 10K Cost On Income Tax Authority For Violation Of Principles Of Natural Justice

The Allahabad High Court on Wednesday imposed a cost of Rs. 10,000 to be paid by an erring officer of the Income Tax Department for violating the principles of natural justice while cancelling the earlier Assessment Order and initiating fresh proceedings under Section 263 of the Income Tax Act, 1961.

E-Way Bill Expired Due To Vehicle Break Down: Allahabad High Court Quashes Seizure Memo

Case Title: M/S Rateria Laminators Pvt. Ltd. vs. Additional Commissioner

The Allahabad High Court has set aside an order under Section 129(3) of the UPGST Act 2017 by which a penalty was imposed solely on the ground that no evidence had been adduced regarding the illness of the driver and the breakdown of the vehicle.

Punjab And Haryana High Court

Reusing E-way Bills Demonstrates Intention Of Tax Evasion: Punjab And Haryana High Court Upholds Penalty Against Transporter

Case Title: M/s Bright Road Logistics Versus State of Haryana and Others

ITAT

Defects In Statement Of Reportable Account Rectified Within The Time Limit: ITAT Deletes Penalty

Case Title: KEB Hana Bank Versus Joint Director of Income Tax

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the penalty as the defects in the statement of the reportable account were rectified within the time limit.

For Computing Holding Period For Capital Gain The Period To Be Taken From Date Of Allotment Of The Flat: ITAT

Case Title: DCIT Versus Narendra Gehlaut

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that for computing the holding period for capital gain, the period is to be taken from the date of allotment of the flat.

ITAT Allows Capital Gains Exemption To NSE Investor Under India-Mauritius Tax Treaty

​​Case Title: Saif Ii-Se Investments Mauritius Limited Versus Assistant Commissioner Of Income Tax

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has allowed the capital gains exemption to NSE investors under the India-Mauritius tax treaty.

CESTAT

Services For Drain Hole Drilling In The Existing Oil Wells Qualify As “Mining Services”: CESTAT

Case Title: M/s Oil and Natural Gas Corporation Versus Commissioner of Central Excise & Service Tax, Dibrugarh

The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that services for drain hole drilling in existing oil wells qualify as "mining services".

Flue Gas Generated During Manufacturing Metallurgical Coke Is Not A Manufactured Product, Tata Steel Not Liable To Pay Excise Duty: CESTAT

Case Title: M/s. Tata Steel Limited Versus Commissioner of Central Excise, Haldia

The Kolkata Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the flue gas generated during the course of manufacturing metallurgical coke is not a manufactured product and is also not marketable.

No Service Tax Payable On Penal Interest & Cheque Bouncing Charges Received By Bajaj Finance: CESTAT

The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT)has held that penal interest and cheque bouncing charges received by Bajaj Finance as "consideration" for "tolerating an act" are not leviable to service tax under Section 66E(e) of the Finance Act, 1994.

No Service Tax Applicable On Providing Repair, Management And Maintenance Of Roads Services To NHAI: CESTAT

Case Title: B. Ramanaiah Constructions Versus Commissioner of Central Excise

The Hyderabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that no service tax is applicable to the repair, management, and maintenance of road services for the National Highway Authority of India (NHAI).

Cenvat Credit Allowable To Nayara Energy On Inputs Used For Railway Lines: CESTAT

The Ahmedabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that cenvat credit is allowable on inputs used for railway lines.