Income of Beneficiaries not Taxable in the hands of Trust : ITAT [Read Order]
In M/s. Abad Trust vs. Asst. Director of Income Tax (Exemption), the Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) held that tax cannot be assessed at the hands of the Assessee-Trust and
Supreme Court and High Court Weekly Round-Up
This weekly round-up analytically summarises the key stories related to the Supreme Court and High Court reported at Taxscan.in during the previous week from April 9 to April 16, 2023. Delhi HC Set Aside Section
The burden of Proof on Seized Goods Not Notified u/s 123(2) of Customs Act lies with Customs Authorities: Gauhati HC dismisses Appeal [Read Order]
The Gauhati High Court (High Court of Assam, Nagaland, Mizoram, and Arunachal Pradesh) has dismissed the appeal observing that the burden of proof on seized goods that are not notified under Section 123(2) of Customs
FM urges taxpayers to opt for GST Tribunal instead of court for expedited resolutions
Following six years of eager anticipation, the formation of the GST Appellate Tribunal is finally being realized. This heralds a new era in taxation, offering a more efficient and resilient resolution process for issues related
Top 15 Tax Judgments by Supreme Court in 2020
Though many working days of the Supreme Court have lost due to continuous lockdown, the Supreme Court has pronounced some important Judgments in 2020. Here is the Complete list of the Tax Judgments by Supreme
Income Tax Department conducts searches in Bengaluru
The Income Tax Department conducted search and seizure operation on 17.02.2021 on 09 major Trusts registered in Bengaluru &Mangaluru, which are running educational institutes including medical colleges. Searches were conducted at 56 different locations across
ITAT Weekly Round Up
This Round-Up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during September 30 to October 06, 2023. Value of Property assessed by SVA on date of Agreement
Gauhati HC allows Interim Stay on Coercive Measures on issue of Refund/Adjustment of Advance Tax paid to Income Tax Dept [Read Order]
The Gauhati High Court has granted interim relief to the Writ Petitioner, Greenlam Industries Limited, from coercive measures on the issue of refund/adjustment of advance tax paid to the Income Tax Department. G. N. Sahewalla,
Relief to Dreamz Infra India: Karnataka High Court quashes Parallel Proceedings by State Govt. as IBC to override State Act [Read Order]
The Karnataka High Court while quashing the parallel Proceedings by the State Government against Dreamz Infra India ruled that the Insolvency and Bankruptcy Code, (2016 (IBC) will have an overriding effect on State Act. The
Supreme Court and High Courts Weekly Round-Up
This weekly round-up analytically summarises the key tax judgements of the Supreme Court and all High Courts reported at Taxscan.in during the previous week from May 06 to May 12 2023. Official Liquidator Liable to
Revisional Jurisdiction cannot be invoked When Remedy of Appeal u/s 78 of OVAT Act is available: Orissa HC [Read Order]
The High Court (HC) Orissa held the revisional Jurisdiction cannot be invoked when the remedy of appeal under section 78 of the Orissa Value Added Tax Act, 2004 (OVAT) Act is available. Sri Krishna Solvent
Chennai Corporation Fails to Issue Notice before Reassessment u/s 137B of Municipal Corporation Act: Madras HC sets aside Order to Remit Property Tax Arrears [Read Order]
The Madras High Court has set aside the order of the Commissioner of the Greater Chennai Corporation  to remit the property tax arrears. The bench of Justice Dr. Anita Sumath observed that the Corporation failed
6000 CA Students writes to PM seeking postponement of CA Exams [Read Letter]
Around 6000 CA Students wrote to Prime Minister, Narendra Modi for taking suo-moto cognizance with regards to CA Exams which are to be held from July 5 till July 20 in the offline mode on
Doctrine of In Pari Materia: An Analysis of Cross Empowerment and Bifurcation of Powers in the GST Regime
‘ In pari materia ‘ is a Latin Legal term that means ' on the same subject or matter ' or ' in a similar case. ' This term originated from Roman Law from a
Supreme Court and Highcourts Weekly Round-Up
This weekly round-up analytically summarises the key tax judgements of the Supreme Court and all High Courts reported at Taxscan.in during the previous week from May 13 to May 19 2023. Failure to Issue Notice pursuant to Refund