Search Results for "Finance Act, 1950"

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Supreme Court Hears Constitutional Challenge to COFEPOSA Preventive Detention Powers for Foreign Exchange Violations. Petitioners Contend Absence of Penal Provisions Under FEMA Renders Section 3(1) Unconstitutional.

The writ petition under Article 32 of the Constitution was filed directly in the Supreme Court challenging the constitutional validity of Section 3(1)...

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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)...

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Supreme Court Allows Assessee’s Appeal in Excise Exemption Case: Commercial Meaning of ‘Hank’ Prevails Over Technical Definition. Notification Exempting Cotton Yarn Cleared in ‘Hanks’ Interpreted According to Trade Understanding Under Central Excise & Salt Act, 1944.

The appellant, a cotton spinning mill, manufactured cotton yarn of counts 20 to 32. In June 1962, the government issued a notification exempting cotto...

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Bombay High Court Dismisses Petition Challenging 90% Salary Grant Clause in Government Resolution for Aided Technical Institutions. Clause No.10 of GR dated 21.08.2015 does not curtail right to 100% salary as grant-in-aid is limited to 90% under Rule 9 of GR dated 18.05.1978.

The petitioner, Government Aided Technical Institutes Employees Welfare Board (GATIWEB), a registered society representing employees of aided technica...

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High Court of Karnataka Adjudicates TDS Obligations of Turf Clubs on Stake Money Payments to Horse Owners under Income Tax Act. Interpretation of Section 194B and CBDT Circulars Central to Dispute over Characterization of Stake Money as Winnings.

The case involved writ petitions filed by Bangalore Turf Club Limited, Mysore Race Club Limited, Karnataka Race Horse Owners Association, and an indiv...