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...
The Court held that the demand for levy/fee/royalty on advertisements made without legislative sanction is violative of Article 265 of the Constitution. The imposition of royalty cannot be equated with tax/levy. The advertising companies had agreed to pay a royalty of Re.1 per square foot in 2005, and the Corporation had the power to revise the rate. However, the Corporation's resolution to charge enhanced royalty u/s 431B of the Act was misplaced as royalty is not tax. Royalty and tax are distinct concepts. The Court balanced equities by directing the advertising companies to pay the enhanced rate of Rs.10 per square foot with 6% simple interest from the date of communication of the resolution. Any excess amount paid over Re.1 per square foot shall be adjusted towards the final liability determined by the Corporation.
The Court held that the demand for levy/fee/royalty on advertisements made without legislative sanction is violative of Article 265 of the Constitution. The imposition of royalty cannot be equated with tax/levy. The advertising companies had agreed to pay a royalty of Re.1 per square foot in 2005, and the Corporation had the power to revise the rate. However, the Corporation's resolution to charge enhanced royalty u/s 431B of the Act was misplaced as royalty is not tax. Royalty and tax are distinct concepts. The Court balanced equities by directing the advertising companies to pay the enhanced rate of Rs.10 per square foot with 6% simple interest from the date of communication of the resolution. Any excess amount paid over Re.1 per square foot shall be adjusted towards the final liability determined by the Corporation.
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