Search Results for "central sales tax"

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Bombay High Court Allows Assessee's Appeal on Proportional Increase of Advertisement Limit and Deductibility of Statutory Fund Transfer. Holds that Section 37(3A) limit must be proportionately increased for extended previous year and transfer to statutory storage fund is deductible under Section 37(1).

This judgment by the Bombay High Court addresses four questions of law referred by the Income Tax Appellate Tribunal under Section 256(1) of the Incom...

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High Court of Karnataka Dismisses Revision Petitions of Granite Dealer in VAT Dispute — Inter-State Sale of Rough Granite Blocks Not Proven as Export Sale. Assessee failed to discharge burden of proof under Section 5(1) of Central Sales Tax Act, 1956.

The petitioner, M/s. Shanthakoti Enterprises, a dealer engaged in extraction and sale of rough granite blocks from quarries in Chamarajanagar, filed r...

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Bombay High Court Quashes Show Cause Notice in CENVAT Credit Case Due to Violation of Natural Justice. Non-supply of documents and denial of cross-examination vitiated the notice under Article 226 of the Constitution.

The petitioner, Supermax Personal Care Pvt. Ltd., a company engaged in manufacturing excisable goods such as safety razors, blades, and shaving system...

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Bombay High Court Allows Bank's Petition Against GST Attachment of Secured Assets Under SARFAESI Act. Priority of Secured Creditor Over Crown Debts Upheld Under Section 26E of SARFAESI Act and Section 31B of RDDB Act.

The petitioner, Indian Overseas Bank, a secured creditor, had extended credit facilities to Respondent No. 3, Savair Energy Limited. Upon default, the...

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Bombay High Court Quashes Reassessment Notice for Lack of Reasonable Belief of Income Escapement — Section 148 Income Tax Act, 1961. Reassessment Cannot Be Based on Mere Change of Opinion on Same Facts Already Considered During Original Assessment.

The petitioners, M/s. Devidayal Rolling Mills and its partner Sumanbala Aggarwal, challenged a notice dated 26th March 1992 issued under Section 148 o...

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Supreme Court Allows Appeal in Income Tax Deduction Case for Accrued Development Liability. Deduction for Estimated Future Development Expenses Allowed Under Section 10(1) of Indian Income-tax Act, 1922, as Liability Was Accrued, Not Contingent.

The dispute concerned the income tax assessment of a land-developing company that followed the mercantile method of accounting. The appellant, Messrs....

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Bombay High Court Allows Writ Petitions Challenging Local Body Tax Assessment Orders for Violation of Natural Justice. Assessment Orders Quashed and Remanded for Fresh Hearing Under Maharashtra Municipal Corporations Act, 1949.

The petitioner, Siemens Limited, a company incorporated under the Companies Act, 1956, filed multiple writ petitions challenging assessment orders pas...