Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Taxability of Personal Guarantee and Corporate Guarantee in GST - Corporate Guarantees provided by a holding company to its subsidiary under the Central Goods & Service Tax Act, 2017. The petitioner sought a declaration that such activity does not constitute a taxable supply of services. Arguments were presented regarding the validity of a Circular issued by the Central Board of Indirect Taxes & Customs, interpretation of previous legal precedents, the impact of recent amendments, and the nature of Corporate Guarantees as contingent contracts. The High Court allowed time for further submissions from both parties and directed no coercive action against the petitioner until further proceedings. - Matter listed for next date.
Taxability of Personal Guarantee and Corporate Guarantee in GST - Corporate Guarantees provided by a holding company to its subsidiary under the Central Goods & Service Tax Act, 2017. The petitioner sought a declaration that such activity does not constitute a taxable supply of services. Arguments were presented regarding the validity of a Circular issued by the Central Board of Indirect Taxes & Customs, interpretation of previous legal precedents, the impact of recent amendments, and the nature of Corporate Guarantees as contingent contracts. The High Court allowed time for further submissions from both parties and directed no coercive action against the petitioner until further proceedings. - Matter listed for next date.
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