Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Whether certain construction equipment (dumpers, loaders, excavators, dozers, drills, rock breakers etc.) qualify as "motor vehicles" under Section 2(28) and are taxable: the Court held the definition is bifurcated-an inclusive limb (mechanically propelled vehicles adapted for roads) and an explicit exclusion (vehicles of a special type adapted for use only in a factory or enclosed premises). Because the machines were adapted and used essentially within enclosed/factory premises they fall within the exclusion and are not taxable under Entry 57, List II or Schedule I to the Gujarat Tax Act. If such equipment is actually used on roads, statutory registration, tax liability and penal consequences may follow. Impugned HC orders set aside; appeal allowed. - SC
Whether certain construction equipment (dumpers, loaders, excavators, dozers, drills, rock breakers etc.) qualify as "motor vehicles" under Section 2(28) and are taxable: the Court held the definition is bifurcated-an inclusive limb (mechanically propelled vehicles adapted for roads) and an explicit exclusion (vehicles of a special type adapted for use only in a factory or enclosed premises). Because the machines were adapted and used essentially within enclosed/factory premises they fall within the exclusion and are not taxable under Entry 57, List II or Schedule I to the Gujarat Tax Act. If such equipment is actually used on roads, statutory registration, tax liability and penal consequences may follow. Impugned HC orders set aside; appeal allowed. - SC
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