Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
The Delhi High Court examined the constitutional validity of an amendment in the Income Tax Act, 1961, specifically u/s 31 of the Finance Act, 2017. The petitioner challenged the retrospective operation of the amendment which capped set-off of losses from house property income at ₹2 lakh. The court held that the legislative competency was not in question, and the amendment did not violate Article 14 of the Constitution as it applied uniformly to all taxpayers. The court also found that the restriction on set-off was a reasonable measure to prevent abuse of provisions. The petitioner's argument u/A 19(1)(g) was rejected as the restriction was proportionate and did not unreasonably curtail rights. The court cited precedent to support the legislature's wide discretion in fiscal matters. The petitioner's claim of promissory estoppel was dismissed. Ultimately, the court upheld the constitutionality of the amendment, ruling against the petitioner's arguments.
The Delhi High Court examined the constitutional validity of an amendment in the Income Tax Act, 1961, specifically u/s 31 of the Finance Act, 2017. The petitioner challenged the retrospective operation of the amendment which capped set-off of losses from house property income at ₹2 lakh. The court held that the legislative competency was not in question, and the amendment did not violate Article 14 of the Constitution as it applied uniformly to all taxpayers. The court also found that the restriction on set-off was a reasonable measure to prevent abuse of provisions. The petitioner's argument u/A 19(1)(g) was rejected as the restriction was proportionate and did not unreasonably curtail rights. The court cited precedent to support the legislature's wide discretion in fiscal matters. The petitioner's claim of promissory estoppel was dismissed. Ultimately, the court upheld the constitutionality of the amendment, ruling against the petitioner's arguments.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
