Judgement

Only profit element in excess stock should be brought under the purview of the tax (Sukumar Solvent Pvt. Ltd. Vs. A.C.I.T.)(Income Tax Appellate Tribunal) (16.03.2023)
The assessee is a private limited company engaged in rice bran (solvent) and rice bran oil refinery. A survey was conducted under Section 133A of the ....
MANU/IK/0124/2023
Direct Taxation
Disallowance of expenses under Section 14A of IT Act cannot exceed amount of exempted income (Shri Jasvantbhai R Patel vs. Principal Commissioner of Income)(Income Tax Appellate Tribunal) (17.03.2023)
The assessee filed its return of income for assessment year 2015-16 declaring total income of 50,49,400. The case of the assessee was selected for lim....
MANU/IB/0094/2023
Direct Taxation
Notice must stipulate that there was a failure on the part of the assessee to disclose fully and truly material facts necessary for its assessment (Milton Plastics Limited Vs. Mudit Nagpal and Ors.)(High Court of Bombay) (13.03.2023)
By present writ petition invoking jurisdiction under Article 226 of the Constitution of India, the Petitioner impugns Notice issued by the Respondent ....
MANU/MH/0891/2023
Direct Taxation
For claiming Input Tax Credit, genuineness of the transaction and actual physical movement of the goods has to be proved by the dealer (The State of Karnataka vs. Ecom Gill Coffee Trading Private Limited)(Supreme Court) (13.03.2023)
The issue is with respect to interpretation of Section 70 of the Karnataka Value Added Tax Act, 2003 (KVAT Act, 2003). By the impugned judgment passed....
MANU/SC/0224/2023
Sales Tax/VAT
Burden of proof is on employer to disprove the nature of the certificate in order to deny benefits (R. Sundaram vs. The Tamil Nadu State Level Scrutiny Committee and Ors.)(Supreme Court) (17.03.2023)
The present Appeal is directed against the final order and judgment in Review Application passed by the High Court, and against order passed by the Hi....
MANU/SC/0253/2023
Service
Unless there is a specific bar under the contract, it is always open for the Arbitrator/Arbitral Tribunal to award pendente lite interest (Indian Railway Construction Company Limited vs. National Buildings Construction Corporation Limited)(Supreme Court) (17.03.2023)
The Indian Railway Construction Company Limited ("IRCON") has preferred the present appeal feeling aggrieved and dissatisfied with the impugned judgme....
MANU/SC/0266/2023
Arbitration