Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
The High Court addressed the power to grant exemptions u/s 8(5)(b) of the CST Act, ruling that it extends beyond "registered dealers" to include other specified categories. This interpretation was supported by previous judgments. The Court also discussed unjust enrichment, stating that refunds are not automatic unless it's proven that tax liability wasn't passed on to consumers. The decision referenced a Supreme Court case emphasizing that the tax component is typically included in the final product cost. Ultimately, the Court upheld the original judgment, dismissing the revision petitions.
The High Court addressed the power to grant exemptions u/s 8(5)(b) of the CST Act, ruling that it extends beyond "registered dealers" to include other specified categories. This interpretation was supported by previous judgments. The Court also discussed unjust enrichment, stating that refunds are not automatic unless it's proven that tax liability wasn't passed on to consumers. The decision referenced a Supreme Court case emphasizing that the tax component is typically included in the final product cost. Ultimately, the Court upheld the original judgment, dismissing the revision petitions.
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