Search Results for "Taxable Value"

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Supreme Court Allows Revenue's Appeal in Gypsum Board Tax Classification Case. Holds that Gypsum Board Falls Under 'Gypsum in All Its Forms' Entry in Rajasthan VAT Act, Taxable at 4%.

The Supreme Court allowed the appeals filed by the Additional Commissioner (Legal), Commercial Taxes, Rajasthan and another against the judgment of th...

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Supreme Court Allows Assessee's Appeals; Profits from Sale of Gold and Shares Held Capital Receipts Not Taxable as Income. Court Rules Transactions Were Realisation of Investment, Not Adventures in Nature of Trade, and High Court Erred in Treating Tribunal's Finding as Unreviewable Fact.

The appeals arose from references under Section 66(2) of the Income Tax Act, 1922 concerning the assessee, a large landholder, who had inherited subst...

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High Court of Karnataka Decides Revenue's Wealth Tax Appeals Involving Definition of 'Assets'. The Appeals Challenge ITAT Orders Regarding Assessment Years 1999-2000 to 2004-05 under Section 2(ea) of Wealth Tax Act, 1957.

The High Court of Karnataka heard a batch of Wealth Tax Appeals filed by the Revenue under Section 27-A of the Wealth Tax Act, 1957, against the order...

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High Court of Karnataka Allows University's Revision Petitions in VAT Dispute — Supply of Textbooks and Uniforms to Students Not Taxable as 'Sale'. Educational Institution Providing Essential Items to Students as Part of Education Is Not a Dealer Under KVAT Act, 2003.

The case involves sales tax revision petitions filed by Manipal University under Section 65(1) of the Karnataka Value Added Tax Act, 2003 (KVAT Act). ...

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Supreme Court Dismisses State's Appeal in VAT Dispute — Purchase Price Under GVAT Act Does Not Include VAT Component. Value Added Tax and unclaimed tax credit purchases excluded from taxable turnover of purchases for reduction of tax credit under Section 11(3)(b) of Gujarat Value Added Tax Act, 2003.

The State of Gujarat appealed against the judgment of the Gujarat High Court which affirmed the order of the Gujarat Value Added Tax Tribunal. The dis...

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Bombay High Court Examines Whether Bunker Fuel Sales to Vessels on High Seas Are Taxable Under Maharashtra VAT Act. Petitioners Challenged Assessment Orders and Recovery Notices Claiming Sales Occurred Outside State Territory and Were in Course of Export.

The dispute arose from assessment and recovery proceedings under the Maharashtra Value Added Tax Act, 2002 concerning sales of High Speed Diesel (HSD)...