Latest Statutes


The supply of turnkey Engineering, Procurement and Construction (EPC) Contract for construction of solar power plant wherein both goods and services are supplied can be construed to be a composite supply in terms of section 2(30) of CGST Act, 2017.

Brightstone Developers (P) Ltd., In re

  Section 98 of CGST Act, 2017   GST
Notice under section 148 being a jurisdictional notice, had been issued to a dead person and legal representative not having waived the requirement of notice under section 148 and not having submitted to jurisdiction of AO pursuant to impugned notice, provisions of section 292B would not be attracted and hence, notice under section 148 had to be treated as invalid.

Nanduben Ratilal Patel v. Dy. CIT

  Section 148   Direct Taxes
Development fee payment was not optional or voluntary on the part of the students but it was compulsory charge in the nature of fee for studying and continuing study in the institutions of the assessee, therefore, development fee received by assessee could not be classified as capital in nature for specific purpose or part of corpus fund of assessee trust. It was part of the current receipt and partook the character of other fee charged by assessee on account of tuition fee, term fee, etc.

Asstt. CIT (E) v. Scholars Education Trust of India

  Section 11   Direct Taxes
The pulpwood supplied to the applicant is covered under the HSN 4403 and is liable to tax at 18% under IGST Act, 2017

West Coast Paper Mills Ltd

  Section 98 of CGST Act, 2017   GST
Any unabsorbed depreciation available to an assessee on 1-4- 2002 will be dealt with in accordance with the provisions of section 32(2) as amended by Finance Act, 2001. As the restriction of 8 years for carry forward and set off of unabsorbed depreciation had been dispensed with by Circular No. 14 of 2001, the unabsorbed depreciation available to an assessee on 1-4- 2002 were available for carry forward and set-off against the profits and gains of subsequent years, without any limit, whatsoever.

Pr. CIT v. Ankur Protein Industries Ltd.

  Section 72(1)   Direct Taxes
Commission paid to foreign agents for procuring export orders could not be treated as income taxable in India when parameters of DTAAs were applied to transactions in question. Also non-resident agents did not have PE or business connection in India. Therefore, impugned payment could not be held as taxable in the hands of non-resident agents in India and, therefore, liability to withhold tax under section 195 did not arise.

Punjab Stainless Steel Inds. v. ACIT

  Section 195   Direct Taxes
Where the loans were taken by assessee in cash from his relatives, the transactions between relatives were not in the nature of loans or deposits as envisaged in section 269SS and the penalty imposed under section 271D was accordingly cancelled.

Snehalata Sitani v. Jt. CIT

  Section 271D read with Section 269SS   Direct Taxes
Section 206AA does not override provisions of section 90(2) and in case of payment made to non-resident, assessee correctly applied rate of tax prescribed under concerned DTAAs and not as per section 206AA because provisions of the DTAAs were more beneficial and DTAA acquired primacy in such case.

Dy. CIT v. BEML Ltd.

  Section 195   Direct Taxes
Amount utilized by the assessee in the acquisition of land should be construed as amount invested in purchase/construction of residential house the intention of the statute as provided in section 54 had been fully satisfied by the assessee in the present case though plot was not handed by the developer due to his own failure.

Varun Seth v. Asstt. CIT

  Section 54   Direct Taxes
Where exemption claimed under sections 11 and 12 was denied by AO, what could be brought to tax was the net income in the hands of assessee-trust and not the gross receipts.

Kund Kund Kahan Digamber Jain v. Mumokshu Ashram Bajaj Palace

  Sections 11 & 12   Direct Taxes
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