Supreme Court disallows business loss claim on confiscated silver: CIT vs. Prakash Chand Lunia (2023) LEGAL ISSUE: Whether a business can claim a loss for confiscated goods when the confiscation resulted from an illegal activity, even if the business is otherwise legitimate. CASE TYPE: Income Tax Law. Case Name: The Commissioner of Income Tax Jaipur […]
Supreme Court Disallows Business Loss Claim on Confiscated Silver: Commissioner of Income Tax vs. Prakash Chand Lunia (2023) LEGAL ISSUE: Whether a business can claim a loss for confiscated goods when the goods were seized due to an infraction of the law. CASE TYPE: Income Tax Law Case Name: The Commissioner of Income Tax Jaipur
Supreme Court Rules on Service Tax for Imported Engineering Designs LEGAL ISSUE: Whether “Engineering Design & Drawings” imported for manufacturing Wind Turbine Generators (WTG) are subject to service tax as “Design Services”. CASE TYPE: Service Tax Law Case Name: Commissioner of Customs, Central Excise & Service Tax vs. M/s Suzlon Energy Ltd. Judgment Date: April
Supreme Court Rules on Service Tax for Imported Engineering Designs: Commissioner of Customs vs. Suzlon Energy Ltd (2023) LEGAL ISSUE: Whether “Engineering Design & Drawings” imported for manufacturing Wind Turbine Generators (WTG) are subject to service tax as “Design Services”. CASE TYPE: Service Tax Case Name: Commissioner of Customs, Central Excise & Service Tax vs.
