Tag Archives: SUPREME COURT OF INDIA

Amount Received on Termination of Joint Venture Agreement Using Trademarks and Patents Is Not Taxable Under Unamended Section 55(2)

By | July 30, 2026
0 Comment

Amount Received on Termination of Joint Venture Agreement Using Trademarks and Patents Is Not Taxable Under Unamended Section 55(2) Issue Whether the amount received by the assessee on termination of a joint venture agreement involving the use of know-how, labels, trademarks, and patents was taxable as capital gains under Section 55(2) as it stood during… Read More »

Redemption Fine Paid for Goods Confiscated Due to Import Law Violations Is Not Allowable Expenditure

By | July 30, 2026
0 Comment

Redemption Fine Paid for Goods Confiscated Due to Import Law Violations Is Not Allowable Expenditure Issue Whether a redemption fine paid for releasing goods confiscated due to a breach of import conditions is an allowable business expenditure under Section 37(1). Facts Context: The matter pertains to Assessment Year 1988-89 involving the allowability of a redemption… Read More »

Assignment of Leasehold Rights in Land and Building Is Immovable Property Transfer, Exempt From GST

By | July 27, 2026
0 Comment

Assignment of Leasehold Rights in Land and Building Is Immovable Property Transfer, Exempt From GST Issue Whether GST is leviable under Section 7 of the CGST/GGST Act on the assignment and transfer of leasehold rights in a plot of land and building constructed thereon for a lump-sum consideration. Facts Original Lease: A plot of land… Read More »

Escaped Assessment Notices Struck Down if for AY 2015-16, Else Remanded for Redetermination

By | July 18, 2026
0 Comment

Escaped Assessment Notices Struck Down if for AY 2015-16, Else Remanded for Redetermination Escaped Assessment Notices Struck Down if for AY 2015-16, Else Remanded for Redetermination Issue Whether the impugned reassessment notices are liable to be struck down outrightly under the revenue’s concession if they pertain to Assessment Year 2015-16, or whether the matters should… Read More »

Constitutional Validity of GST Arrest Powers Under Section 69 Upheld Following Supreme Court Precedent

By | July 15, 2026
0 Comment

Constitutional Validity of GST Arrest Powers Under Section 69 Upheld Following Supreme Court Precedent Issue Whether Section 69 of the Central Goods and Services Tax (CGST) Act, 2017, which empowers designated GST officials to arrest individuals suspected of specified tax offenses, is constitutionally valid. Facts The petitioner filed a writ petition before the Supreme Court… Read More »

Supreme Court stays further proceedings against an assessment order challenged via writ despite available appellate remedies.

By | July 7, 2026
0 Comment

Supreme Court stays further proceedings against an assessment order challenged via writ despite available appellate remedies. Issue Whether a writ petition challenging a Section 74 Order-in-Original is maintainable under the Whirlpool exceptions if the assessee alleges that the Show Cause Notice was issued without proper jurisdiction, based on a contested audit, and after a Call… Read More »

Supreme Court stays order holding physical service dates override electronic portal service dates for GST appeal limitations.

By | July 7, 2026
0 Comment

Supreme Court stays order holding physical service dates override electronic portal service dates for GST appeal limitations. Supreme Court stays order holding physical service dates override electronic portal service dates for GST appeal limitations. Issue Whether the date of physical/offline communication of a GST notice or order prevails over the date of electronic service on… Read More »

Composite GST demand notices clubbing multiple financial years are illegal as they violate limitation periods.

By | July 6, 2026
0 Comment

Composite GST demand notices clubbing multiple financial years are illegal as they violate limitation periods. Issue Whether the tax authority can legally issue a composite Show Cause Notice (SCN) and a single Order-in-Original (OIO) by clubbing multiple distinct financial years (2018-19 to 2023-24) under Section 74, or if each financial year must be treated as… Read More »

Interest from investing retained members’ sale proceeds is taxable under section 56, not section 80P(2)(a)(i).

By | July 2, 2026
0 Comment

Interest from investing retained members’ sale proceeds is taxable under section 56, not section 80P(2)(a)(i). Issue Whether interest income earned by a co-operative credit society from investing retained, temporarily idle sale proceeds of its members’ agricultural produce qualifies for a deduction as business income under Section 80P(2)(a)(i), or if it must be classified and taxed… Read More »

Interest Paid on Funds Borrowed for Commercial Expediency to Acquire Controlling Interest is Fully Deductible

By | June 27, 2026
0 Comment

Interest Paid on Funds Borrowed for Commercial Expediency to Acquire Controlling Interest is Fully Deductible Issue Whether the interest paid on capital borrowed by an assessee to acquire shares in a company through a group concern is deductible under Section 36(1)(iii) of the Income-tax Act, 1961, when evaluated under the touchstone of commercial expediency. Facts… Read More »