Case Laws

HC issues strict guidelines in order to end CBDT™s TDS credit & refund adjustment harassments

CLR Editorial Note: A letter dated 30th April 2012 was addressed to the High Court, by Anand Parkash, FCA, in which numerous problems were highlighted which mentioned about the hassles being faced by assesses across the Country owing to the faulty processing of the Income Tax Returns and non-grant of TDS credit & refunds. It was claimed… Read More

Tags: Case LawsCaselawsCBDTCommonwealth Law ReportsHigh CourtIncome taxOrder of AustraliaTaxation in IndiaTDSThe Honourable

Industry not bound by the Trade Notes have a right to challenge the same

CLR Editorial Notes: This case refers to an appeal against a Tribunal's show cause notice, filed by an organization over entitlement to Deemed Credit as per Department Notification No.01/93 of Central Excise dated 28.02.1993 and Ministry's Order in TS/36/94-TRU dated 01.03.1994, even after the Appellant Unit crossed the value of clearances of Rs.75 lakhs.  The Manufacturing unit… Read More

Tags: AppealCase LawsCESTATChennaiCustoms Excise and Service Tax Appellate TribunalHonIndiaMinistryMumbaiThe Honourable

Contractor™s liability to pay gratuity can be fastened on the principal employer

CLR Editorial Notes: In the present case the Madras High Court, was called upon to decide on an issue dealing with the payment of gratuity to an employee of the Mettur Thermal Power, for the period from 16.2.1988 to 30.4.1999, while performing services as a contract employee. The court held that even the contractor liability… Read More

Tag: Case Laws

Even on the termination of the agreement/contract, the arbitration agreement would still survive

CLR Editorial Note: The main issue in dispute in the present case was whether disputes that have arisen in relation to the termination of the MOU and the consequences thereof, are covered by the arbitration clause in the MOU which clearly provides for resolution of disputes through arbitration. The Supreme Court has held that since the… Read More

Tags: Arbitral tribunalArbitrationArbitration clauseBangaloreBrusselsCase LawsPetitionerSeptember 2009Supreme Court

Mandatory for Cooperative societies claiming deduction under section 80P to file Returns

CLR Edictorial Notes:- In view of mandatory provisions of section 139(1) (Return of Income) of the Income Tax Act, 1961, read along with section 80A(5) (Where the assessee fails to make a claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the heading "C.”Deductions… Read More

Tags: Case LawsITAT

Section 43(1) of IT Act cannot be invoked if extra price paid for acquiring Assets

CLR Editorial Notes:- Explanation 3  to section 43(1) can't be invoked for computing actual cost of assets merely because assessee has paid some extra price for acquiring that asset unless other conditions of such explanation stand satisfied References: Section 43 (1) Definitions of certain terms relevant to income from profits and gains of business or profession.… Read More

Tags: Case LawsITAT

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