Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
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Compensation awarded under an arbitral award made under Section 3G(5) of the National Highways Act, 1956 was stated to be exempt from TDS in view of Section 96 of the 2013 Land Acquisition Act, which the Court treated as applicable to post-enactment compensation, including acquisitions under the National Highways Act. It further noted that Section 194LA of the Income-tax Act did not require deduction for agricultural land and that the later proviso and CBDT circular only clarified the statutory exemption. Once the compensation was crystallised into a judgment debt, it had to be paid in full without deduction, and any amount already deducted was to be redeposited for disbursement to the claimants.
Compensation awarded under an arbitral award made under Section 3G(5) of the National Highways Act, 1956 was stated to be exempt from TDS in view of Section 96 of the 2013 Land Acquisition Act, which the Court treated as applicable to post-enactment compensation, including acquisitions under the National Highways Act. It further noted that Section 194LA of the Income-tax Act did not require deduction for agricultural land and that the later proviso and CBDT circular only clarified the statutory exemption. Once the compensation was crystallised into a judgment debt, it had to be paid in full without deduction, and any amount already deducted was to be redeposited for disbursement to the claimants.
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