AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Supreme Court affirmed that lottery winnings are taxable under Section 115BB at 30%, irrespective of whether they are classified as business income, rejecting attempts to apply normal slab rates or allow deductions.
FeaturedThe Supreme Court held that customs valuation cannot be enhanced based solely on unverified export declarations from foreign suppliers. The ruling reinforces the requirement for independent corroboration in transfer pricing disputes.
FeaturedThe Supreme Court ruled that customs seizures must be based on reasonable belief supported by facts, not mere suspicion. The standard ensures protection against arbitrary enforcement.
FeaturedSupreme Court dismissed revenue’s SLP challenging the quashing of a Section 148 notice issued by a non-jurisdictional AO.
FeaturedThe Supreme Court has issued notice to the Revenue in EY US LLP’s appeal challenging the Delhi High Court’s ruling on the taxability of seconded employee costs as fees for technical services. The case may clarify FTS scope under the India-US tax treaty.
FeaturedThe Supreme Court has deleted an income tax addition under Section 43B for unpaid excise duty on closing stock, accepting the tax auditor’s report. The decision reinforces reliance on audited accounts where no malafide is proven.
FeaturedThe Supreme Court deleted income tax addition under Section 43B for unpaid excise duty on closing stock, upholding tax auditor's report showing reversal of such liability from profit and loss account.
FeaturedSupreme Court deletes income tax addition under Section 43B for unpaid excise duty on closing stock based on tax auditor's report, affirming that liability must be actual and not notional.
FeaturedThe Supreme Court held that tax classification of goods must be determined by their physical form at the time of sale, not by their end use or subsequent transformation by the consumer.
FeaturedThe Supreme Court dismissed the Revenue's SLP challenging the Gujarat High Court's quashing of a reassessment under Section 148, affirming that a mere change of opinion cannot sustain reopening of assessment.
FeaturedThe Supreme Court ruled that classification of goods for tax purposes depends on their physical form at the time of sale, not on how the buyer later uses them.
FeaturedThe Supreme Court ruled that classification of goods for tax purposes must be based on physical form at the time of sale, not on post-sale end use by consumers.
FeaturedThe Supreme Court held that tax classification of goods must be determined by their physical form at the time of sale, not by the end-use or intended application by consumers.