Search Results for Tag : Purchase
Judgments
When a legislative intent is clear from the language of provision, Court should give effect to it(24.09.2018)
The background facts of the case are that, the Respondent filed a Civil Suit for possession by enforcement of the right of prior purchase against the .....
Tags : Prior purchase, Right, Statute, Interpretation
For claiming Input Tax Credit, genuineness of the transaction and actual physical movement of the goods has to be proved by the dealer(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.....
Tags : Purchase, Input credit, Eligibility
True nature of document has to be determined in facts of each case; precedents, in abundance, will not suffice alone(24.10.2017)
The Plaintiff's suit for redemption of mortgage, decreed by the trial Court and affirmed in first appeal, having been reversed by the High Court, the .....
Tags : Document, Nature, Sale deed, Option to repurchase
Application for setting aside the sale can be made only after deposit of purchase money(25.02.2020)
Present civil appeal is filed by the Appellants, aggrieved by the judgment and order passed in Letters Patent Appeal by the High Court. It is contende.....
Tags : Purchase money, Deposit, Time period
News
Delhi HC Asks Petitioner to Approach DMRC in PIL Seeking Identity Card for Purchase of Metro Token(11.05.2020)
Delhi High Court has asked the Petitioner to make a representation before the Delhi Metro Rail Corporation in a Public Interest Litigation seeking man.....
Tags : Delhi High Court, Identity Card for Purchase of Metro Token
ITAT, Bangalore: Name of Assessee’s Son on Purchase Document Not to Affect Deduction(11.05.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that the Assessee cannot be denied the 50% of deduction under Section 54 of the Income Tax Ac.....
Tags : Income Tax Appellate Tribunal, Purchase Document
Supreme Court: Benefit u/s 64 (2) CPC Available to Bonafide Purchaser(05.04.2022)
Supreme Court has observed that benefit of Section 64(2) of the Code of Civil Procedure, 1908 shall be available if the objector and/or subsequent pur.....
Tags : Supreme Court, Bonafide Purchaser
ITAT: Capital Gain Exemption Can't be Denied For Presence of Husband's Name in Purchase Document(06.05.2022)
Income Tax Appellate Tribunal, Bangalore has held that the capital gain exemption cannot be denied to the wife for the mere presence of the husband's .....
Tags : Income Tax Appellate Tribunal, capital gain, purchase document
Centre Notifies Standard House Purchase Agreement(03.11.2016)
Centre has notified a Standard House Purchase Agreement that builders all over India will have to sign with home buyers, which will result in automati.....
Tags : Standard House Purchase Agreement, Notification, sale agreement
ITAT: Profit Element of Hawala Purchase Would be Subjected to Tax, Not the Entire Amount(13.07.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench has held that the profit element of hawala purchase would be subjected to tax, not the entire amount.
Tags : ITAT, Profit, Hawala Purchase
No Service Tax on Sale/Purchase of Property on a Principal to Principal Basis: CESTAT(07.12.2018)
Customs, Excise and Service Tax AppellateTribunal (CESTAT), Delhi has held that there cannot be any service tax liability under the category “Real Est.....
Tags : CESTAT, Service Tax, Sale/Purchase of Property on a Principal to Principal Basis
SC: Subsequent Purchaser has No Right to Claim Lapse of Land Acquisition Proceedings(07.11.2022)
Supreme Court has held that a subsequent purchaser has no right to claim lapse of acquisition proceedings under Section 21(2) of Right to Fair Compens.....
Tags : Supreme Court, Subsequent Purchaser, Land Acquisition
Government Bid Adieu to 1% Tax on Cash Purchase of Above Rs 2 Lakh(24.03.2017)
Government has done away with 1 per cent tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings abo.....
Tags : Government, Cash Purchase
SC: NBFC & Leasing Co. Not Liable to Pay Interest Tax on Installments Under Hire Purchase Agreement(05.01.2023)
Supreme Court has held that non-banking finance (NBFC) and leasing companies are not liable to pay tax on the interest component included in the hire-.....
Tags : Supreme Court, Non-Banking Finance, Hire Purchase Agreement
Flat Purchasers Can't be Made to Wait For 'Inordinate' Time Period for Possession: NCDRC(30.04.2019)
National Consumer Dispute Redressal Commission has reaffirmed Supreme Court's decision in which Supreme Court has observed that the flat purchasers ca.....
Tags : NCDRC, Flat Purchasers
Flat Purchasers can't be Made to Wait for 'Inordinate' Time Period for Possession: NCDRC(30.04.2019)
National Consumer Dispute Redressal Commission has relied on Supreme Court's decision in which Supreme Court has observed that the flat purchasers can.....
Tags : NCDRC, Flat Purchasers
SC: Deposit of 25% of Amount by Auction Purchaser Mandatory Under Order XXI Rule 84 CPC(13.02.2023)
Supreme Court while observing that under Order XXI Rule 84 CPC, the deposit of 25% of the amount by the auction purchaser is mandatory, has held that .....
Tags : Supreme Court, CPC, Auction Purchaser
AAR, Karnataka: TDS Applicable on Services Purchased as Innovative Ideas to Minimize Cost(11.06.2021)
Authority of Advance Ruling (AAR), Karnataka has ruled that the Tax Deducted at Source (TDS) is applicable on all services purchased on account of inn.....
Tags : Authority of Advance Ruling, Services Purchased as Innovative Ideas to Minimize Cost
Cal. HC: Consolidated Claim from Different Purchase Order Containing Arbitration Clause Not Invalid(18.05.2023)
Calcutta High Court has held that arbitration clauses in different purchase orders that are linked to a single main contract can be treated as a conso.....
Tags : Calcutta High Court, Arbitration, Purchase Orders, Main Contract
SC: Possessory Right of Prospective Purchaser Protected U/S 53A of TP Act(08.06.2023)
Supreme Court has held that even though sale agreement doesn’t confer proprietary rights in an immovable property but prospective purchaser having per.....
Tags : Supreme Court, Sale Agreement, Possessory Right, Prospective Purchaser
SC: Contract Containing Condition of right to Repurchase in Sale Deed is Enforceable(05.07.2023)
Supreme Court has held that condition of right to repurchase in sale deed will not be personal to the vendor unless the terms in the documents specifi.....
Tags : Supreme Court, Sale Deed, Repurchase, Enforceable
SC: Purchaser is a Consumer if Commercial Use by him was for Earning Livelihood by Self Employment(08.09.2023)
Supreme Court has held that when if the commercial use of a particular goods is by the purchasers themselves for the purpose of earning their liveliho.....
Tags : Supreme Court, Commercial Use, Purchaser, Livelihood, Self Employment
SC Issues Notice in Plea Against Judgment Upholding Termination of Power Purchase Agreement by Adani(17.09.2021)
Supreme Court has issued notice in a curative petition filed by Gujarat Urja Vikas Ltd(GUVL) against the judgment dated 2nd July 2019 that upheld term.....
Tags : Supreme Court, Termination of Power Purchase Agreement
CBIC Notifies Procedure for Refund of Excise Duty on Purchase of Petrol or Diesel(12.11.2021)
Central Board of Indirect Taxes and Customs (CBIC) has notified the Procedures for a refund of excise duty on the purchase of petrol or diesel or fuel.....
Tags : Central Board of Indirect Taxes and Customs, Refund of Excise Duty on Purchase of Petrol or Diesel
Kerala HC: Once a Bid is Confirmed, Borrower Cannot Bring in Another Purchaser with Higher Offer(25.11.2021)
Kerala High Court has ruled that once a bid is confirmed, the borrower cannot bring in another purchaser with a higher offer under the Securitisation .....
Tags : Kerala High Court, Another Purchaser with Higher Offer
Bombay HC: Entire Purchase Cannot be Disallowed if Some of Them Found to be Bogus(05.02.2020)
Bombay High Court has held that the entire purchase cannot be disallowed even if it is a Bogus purchase. The Court further held that even if the purch.....
Tags : Bombay High Court, Bogus Purchase
ITAT, Bangalore: Capital Gain Deduction Allowable for House Purchased Outside India(05.02.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has allowed a claim of deduction under Section 54/54F of the Income Tax Act, 1961 on a house purchased.....
Tags : Income Tax Appellate Tribunal, Capital Gain Deduction on House Purchased Outside India
NCDRC: Builder Can't Levy Maintenance Charge on Flat Purchasers Without Occupancy Certificate(27.01.2022)
National Consumer Disputes Redressal Commission (NCDRC) has held that in the absence of obtaining an occupancy certificate, maintenance on the project.....
Tags : National Consumer Disputes Redressal Commission, Maintenance Charge on Flat Purchasers
Bombay HC Directs to Consider De-Centralizing Purchase of Medical Essentials(31.01.2022)
Bombay High Court has directed the Maharashtra Government to consider de-centralizing the purchase of medical essentials for medical colleges and hosp.....
Tags : Bombay High Court, De-Centralizing Purchase of Medical Essentials
Notifications & Circulars
RBI Announces OMO Purchase of Government of India Dated Securities(06.09.2016)
Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct purchase of Government securi.....
Tags : Government securities, Purchase, Open Market Operations