Judgements and Orders, Supreme Court and High courts of India

Section 65 of the Finance Act, 1994, read with section 2(f) of the Central Excise Act, 1944 - Business auxiliary services - Periods 10-9-2004 to 30-6-2006 and 1-7-2006 to 30-6-2007 - Stay order - Whether what is excluded from definition of ‘Business

Goods appropriated to contract before commencement of movement not an exempt subsequent sale. Dealer applying to department in Karnataka for C Forms. Karnataka Sales appropriate state to levy and recover CST

Freight charges forms part of turnover of dealer even if it is charges and collected separaely

The profits of super profit companies should not be “normalized”; instead they should be excluded from the list of comparables; The proviso to section 92 C (2) provides a standard deduction of 5% to the taxpayers at their option.

There are two types of "debt". A debt payable by the assessee is different from a debt receivable by the assessee.

A statutory authority despite receipt of such a request could have kept mum. It should have taken some action. It should have responded to the prayer of the appellant. However, another principle should also be borne in mind, namely, that a statutor

Neset Holdings (P) Ltd. v. CIT (2006) Relevant section: 37(1)

3. Can the value of bus donated by the assessee-employer to a school where the employees’ children were receiving education be allowed as deduction? CIT v. Rajasthan Spinning and Weaving Mills Ltd. (2006) Relevant section: 37

2. Are refunds of liquidated damages made, not voluntarily but solely to comply with the directions of an authority, allowable as deduction? Mahanagar Telephone Nigam Ltd. In re (2006) Relevant section: 37(1) and 57(iii)

Profits and Gains of Business or Profession Special 1. Are expenditure incurred by a company on account of stamp duty and registration fees for the issue of bonus shares allowable as revenue expenditure? CIT, Mumbai v. General Insurance Corporati