Supreme Court Upholds State’s Power to Tax Lotteries: Karnataka & Kerala vs. Meghalaya & Ors. (2022) LEGAL ISSUE: Whether State legislatures have the power to tax lotteries organized by other states or the Central Government. CASE TYPE: Constitutional Law, Taxation Case Name: State of Karnataka & Anr. Etc. vs. State of Meghalaya & Anr. Etc. […]
Supreme Court Clarifies Scope of Section 254(2) of Income Tax Act in Reliance Telecom Case (2021) LEGAL ISSUE: Scope of power of Income Tax Appellate Tribunal to rectify its order under Section 254(2) of the Income Tax Act, 1961. CASE TYPE: Income Tax Appeal Case Name: Commissioner of Income Tax (IT-4), Mumbai vs. M/s Reliance
Supreme Court Clarifies Notice Requirements under Section 143(2) of the Income Tax Act LEGAL ISSUE: Whether a notice issued under Section 143(2) of the Income Tax Act, 1961, is valid if sent to the address available in the PAN database, even if the assessee has changed their address and not updated it with the Income
Date of the Judgment: October 13, 2017 Citation: (2017) INSC 939 Judges: A.K. Sikri, J., Ashok Bhushan, J. When assessing wealth tax, how should a cinema building be valued? Should it be based on its income or the value of the land and building? The Supreme Court of India recently addressed this question, clarifying the
