Supreme Court Clarifies Limitation for Block Assessments in Search Cases Date of the Judgment: 24 March 2023 Citation: (2023) INSC 238 Judges: M.R. Shah, J. and C.T. Ravikumar, J. Can the limitation period for block assessments under the Income Tax Act, 1961 be determined from the date of the last authorization for search, or from […]
Supreme Court Clarifies Limitation for Block Assessments in Search Cases: Anil Minda vs. Commissioner of Income Tax (2023) LEGAL ISSUE: Determination of the starting point for calculating the limitation period for block assessments following a search under Section 132 of the Income Tax Act, 1961. CASE TYPE: Income Tax Law, Block Assessment. Case Name: Anil
Supreme Court Upholds Tax Deduction at Source on Transfer of Right to Use Goods: State of Tripura vs. Chandan Deb (2023) LEGAL ISSUE: Whether tax can be deducted at source on the transfer of the right to use goods under the Tripura Sales Tax Act, 1976. CASE TYPE: Tax Law Case Name: The State of
Supreme Court rules on Sikkimese definition for Income Tax Exemption Date of the Judgment: January 13, 2023 Citation: (2023) INSC 29 Judges: M.R. Shah, J. and B.V. Nagarathna, J. (Separate concurring opinion by Nagarathna J.) Can the definition of “Sikkimese” for income tax exemptions exclude long-term Indian settlers? The Supreme Court of India addressed this
Supreme Court Strikes Down Discriminatory Definition of “Sikkimese” in Income Tax Act LEGAL ISSUE: Whether the definition of “Sikkimese” under Section 10(26AAA) of the Income Tax Act, 1961, is discriminatory against long-term Indian settlers and Sikkimese women. CASE TYPE: Tax Law, Constitutional Law Case Name: Association of Old Settlers of Sikkim & Ors. vs. Union
Supreme Court on Capital Gains Tax on Revaluation of Assets in Partnership Firms Date of the Judgment: 24 November 2022 Citation: 2022 INSC 1121 Judges: M.R. Shah, J. and M.M. Sundresh, J. Can a partnership firm be taxed for capital gains when its assets are revalued and the increased value is credited to the partners’
Supreme Court Denies Tax Deduction for Polyurethane Foam Manufacturer: M/s Polyflex (India) Pvt. Ltd. vs. Commissioner of Income Tax (2022) Date of the Judgment: November 17, 2022 Citation: M/s Polyflex (India) Pvt. Ltd. vs. The Commissioner of Income Tax & Another Civil Appeal No. 8260 of 2022 Judges: M.R. Shah, J. and M.M. Sundresh, J.
Supreme Court Clarifies TDS on Airline Ticket Commissions: Singapore Airlines vs. CIT (2022) LEGAL ISSUE: Whether airlines are liable to deduct Tax Deduction at Source (TDS) on the supplementary commission earned by travel agents on the sale of airline tickets. CASE TYPE: Income Tax Law Case Name: Singapore Airlines Ltd. vs. C.I.T., Delhi Judgment Date:
Supreme Court Upholds TDS on LTC for Foreign Travel: State Bank of India vs. Assistant Commissioner of Income Tax (2022) LEGAL ISSUE: Whether Leave Travel Concession (LTC) availed by employees, involving a foreign leg in the travel itinerary, is exempt from tax under Section 10(5) of the Income Tax Act, 1961, and whether the employer
Supreme Court Clarifies Assessment Procedures for Charitable Trusts: Assistant Commissioner of Income Tax vs. Ahmedabad Urban Development Authority (2022) LEGAL ISSUE: Clarification on the application of the Supreme Court’s judgment regarding Section 2(15) of the Income Tax Act, 1961, concerning charitable trusts and general public utility. CASE TYPE: Income Tax Law Case Name: Assistant Commissioner
Supreme Court Clarifies “Charitable Purpose” under Section 2(15) of Income Tax Act, 1961 Date of the Judgment: 19 October 2022 Citation: (2022) INSC 900 Judges: Uday Umesh Lalit, CJI, S. Ravindra Bhat, J, Pamidighantam Sri Narasimha, J. Can organizations involved in activities that generate revenue, such as trade or business, still be considered charities for
Supreme Court Clarifies “Solely for Educational Purposes” Under Income Tax Act LEGAL ISSUE: Interpretation of “solely for educational purposes” for tax exemption under Section 10(23C) of the Income Tax Act, 1961. CASE TYPE: Income Tax, Charitable Trusts, Educational Institutions Case Name: M/s New Noble Educational Society vs. The Chief Commissioner of Income Tax Judgment Date:
