The ruling determined that the applicant, a SEZ unit, must pay tax under the reverse charge mechanism for renting immovable property services from SEEPZ SEZ Authority as per the amended Notification No. 10/2017-I.T. (Rate). However, the ruling did not provide a definitive answer regarding the tax liability under RCM for other services procured from SEEPZ SEZ Authority due to insufficient details. It was clarified that the tax under RCM must be discharged under the IGST head in line with the IGST Act provisions treating the supply to or by a SEZ unit as an inter-State supply.

The Tribunal dismissed the Revenue's appeal on the disallowance under Section 14A read with Rule 8D, citing no exempt income earned during the year. It upheld the CIT(A)'s partial relief on the deduction under Section 36(1)(viii) for long-term housing finance loans, remanding the matter for loan verification. The Tribunal also upheld the CIT(A)'s decision on the deduction under Section 36(1)(va) for delayed remittance of employees' PF contributions, allowing the deduction. The Revenue's appeal was partly allowed for statistical purposes.

The court dismissed the plaintiffs' suit, ruling that the Bihar Agricultural Income Tax Act, 1938, and its 1939 amendment are valid and do not violate the rights of zamindars under the Permanent Settlement Regulations. The court held that the Act is within the Provincial Legislature's powers under the Government of India Act, 1935, and does not require the previous sanction of the Governor General. The notices and assessments under the Act were deemed legal and binding on the plaintiffs. The court granted a certificate to the plaintiffs for the significant points of construction involved.

The Finance Act, 2023 introduces several amendments to the Income Tax Act, 1961, impacting various tax provisions. Key changes include adjustments to income tax rates for different entities, with specific rates for individuals, Hindu Undivided Families, firms, and companies. The Act also revises provisions for deductions, capital gains, and presumptive taxation schemes, and introduces new tax incentives for International Financial Services Centres (IFSCs). Additionally, it addresses tax treatment for online gaming, market-linked debentures, and mutual funds. The Act further modifies procedures for tax assessments, appeals, and penalties, aiming to streamline tax administration and compliance.

The Tribunal allowed the assessee's appeals regarding disallowance under Section 14A, depreciation on guest house premises, and the annual value of property let out. Issues concerning leave encashment and deemed dividends were remitted back to the AO for reconsideration. The revenue's appeals were dismissed, upholding the CIT(A)'s decisions on these matters.

The Finance (No.2) Act, 2014 introduces various amendments to the Income-tax Act, 1961, affecting individuals, companies, and other entities. Key changes include revised tax rate structures for different entities, modifications to the characterization of income for foreign institutional investors, and adjustments to capital gains taxation. The Act also addresses the tax treatment of charitable trusts, corporate social responsibility expenditures, and investment allowances for manufacturing companies. Additionally, it introduces provisions for Advance Pricing Agreements, Alternate Minimum Tax, and the taxation of Real Estate Investment Trusts and Infrastructure Investment Trusts. These amendments aim to streamline tax compliance and enhance clarity in tax regulations.

The court held that the assessee could not be considered the owner of the primary gold after November 1, 1966, due to statutory prohibitions. Instead, his right was limited to receiving the value of the gold as of May 1, 1967, which should be included in his net wealth along with any accrued interest. The issue of double taxation would be resolved based on the final determination of ownership. The change in status from individual to HUF was a correction of a typographical error and did not affect the assessment's validity. The Tribunal's order was set aside for fresh orders.

The Court upheld the constitutional validity of Explanation II to Section 2(14) and Section 2(38)(ii) of the Rajasthan Sales Tax Act, 1994. It ruled that the Union of India could be subjected to sales tax under the Act, as Article 285 immunity does not extend to indirect taxes like sales tax. The State Legislature was deemed competent to expand the definition of "sale" to cover transfers of property in works contracts. Consequently, the Court dismissed the petitions challenging these provisions and vacated the interim orders.

The tribunal ruled in favor of the assessee on multiple issues. It held that the transfer of shares to group companies was not a colorable device and directed the AO to treat it as a gift, exempt under Section 47(iii) of the Act. The tribunal also directed the deletion of disallowances related to interest under Section 36(1)(iii) and Section 14A read with Rule 8D, emphasizing commercial expediency and the absence of exempt income. Additionally, the tribunal ordered the deletion of the addition made under Section 68 concerning share premium, recognizing it as a capital receipt.

The Tribunal upheld the addition of ?642.54 crores under Section 69A, finding the transaction to be a sham. The issue of unsecured loans was set aside for further examination by the AO. The disallowance under Section 14A was also set aside for recomputation. The Transfer Pricing adjustment and the issue of corporate guarantee were remanded to the TPO for reconsideration. The grounds related to interest and penalties were dismissed as consequential. The Tribunal's detailed analysis emphasized the need for substantial evidence and transparency in financial transactions to avoid adverse tax implications.

The court dismissed the preliminary objection on the maintainability of the petition under Article 32, allowing the petitioner to challenge the assessment under the Sales Tax Act. The court clarified the interpretation of "in the course of export" under Article 286(1)(b) and Section 5(1) of the Central Sales Tax Act, emphasizing the integral connection between the sale and export. The court held that sales by the Coffee Board to registered exporters were not exempt from sales tax as they were not considered sales in the course of export, resulting in the dismissal of the petitions with costs.

The Tribunal partly allowed the appeals, granting relief to the assessee on various grounds. The Tribunal determined that a corporate guarantee constitutes an international transaction, set the Arm's Length Price for the guarantee commission at 0.35%, and ruled that no disallowance under Section 14A was warranted. It also held that foreign exchange loss should be treated as revenue expenditure, deleted the addition under Section 43CA, and removed the disallowance under Section 40(a)(i). The Tribunal deemed the initiation of penalty proceedings premature and directed the AO to grant MAT and TDS credits appropriately.

The court partially allowed the appeals, holding that the proviso to Section 19(2)(v) applies to manufacturers, including those involved in inter-state sales. The omission of the proviso by Tamil Nadu Act 5 of 2015 was deemed to have retrospective effect from 11.11.2013. Judicial review of policy decisions was upheld as necessary to ensure compliance with the law. The court applied the doctrine of unjust enrichment to refund claims, requiring claimants to demonstrate they have not transferred the tax burden. Refund claims must adhere to prescribed limitation periods.

The court upheld the tribunal's decision, affirming that the petitioner's activities were taxable under specified categories. Exemptions under sections 97 and 98 did not apply to airport runways. The extended period of limitation was deemed justified due to non-disclosure of activities. Penalties were upheld as the petitioner failed to provide sufficient evidence. The writ petition was dismissed, and the rule was discharged with no order as to costs.

The circular outlines the rates of income tax deduction from salaries for the financial year 2011-2012 under Section 192 of the Income-tax Act, 1961. It specifies different tax rates based on income levels and categories, such as gender and age. The circular also explains related provisions, including the absence of a surcharge, the application of education cess, and the method for tax calculation. Employers are responsible for deducting tax at source and can choose to pay tax on non-monetary perquisites. The document covers procedures for handling multiple employers, arrears, and other income, and emphasizes the importance of accurate documentation and compliance with tax deduction regulations.

The Direct Taxes Code Bill, 2009 aims to simplify and consolidate the laws related to direct taxes, including income-tax, dividend distribution tax, fringe benefit tax, and wealth tax, to create an efficient and equitable tax system. The Code addresses the complexities of the existing Income Tax Act, 1961, which has become difficult for taxpayers to comprehend due to numerous amendments. Key features include a single Code for all direct taxes, use of simple language, reduction in litigation, and flexibility to accommodate economic changes. The Code proposes a comprehensive definition of income, residence-based taxation, and special provisions for capital gains, income from employment, and business income. It introduces tax incentives for savings, medical treatment, and education, while eliminating certain exemptions. The Code also outlines the taxation of companies, unincorporated bodies, non-profit organizations, and wealth tax. It focuses on promoting voluntary compliance, enforcing compliance through filing obligations, and implementing a general anti-avoidance rule to deter tax avoidance practices.

The circular outlines the tax deduction process from salaries under Section 192 of the Income-tax Act, 1961, for the financial year 2007-08. It specifies the tax rates applicable based on income levels and categories, such as general taxpayers, women below 65, and senior citizens. The document details the method of tax calculation, including the handling of non-monetary perquisites by employers and the computation of average income tax. It also covers the responsibilities of employers in deducting and depositing tax, issuing TDS certificates, and filing quarterly TDS returns. Additionally, it discusses various deductions and exemptions available under the Income-tax Act, including those for housing loans, medical expenses, and specific allowances. Penalties for non-compliance are also mentioned.

The circular outlines the income-tax deduction from salaries for the financial year 2006-07 under Section 192 of the Income-tax Act, 1961. It specifies the rates of tax deduction based on income levels, gender, and age, including special rates for women and senior citizens. The document also explains the method of calculating tax deductions, including the treatment of non-monetary perquisites and situations involving multiple employers. It covers deductions under various sections, including those for medical expenses, house rent, and contributions to provident funds. The circular details the responsibilities of employers in deducting and depositing tax, issuing TDS certificates, and filing quarterly statements. Penalties for non-compliance are also addressed.

The circular outlines the rules for income tax deduction from salaries for the financial year 2005-2006 under Section 192 of the Income Tax Act, 1961, as per the Finance Act, 2005. It specifies tax rates based on income brackets and provides separate rates for women and senior citizens. It details the method of tax calculation, including deductions for various investments and expenses under Chapter VI-A, such as insurance premiums, provident fund contributions, and housing loan repayments. The circular also covers tax deductions on non-monetary perquisites, relief for salary paid in arrears, and procedures for tax deduction at source (TDS) compliance, including the issuance of TDS certificates and filing of returns.

The circular provides guidelines for tax deduction at source from salaries for the financial year 2000-2001 under section 192 of the Income-tax Act, 1961. It outlines tax rates based on income brackets, with no tax for incomes up to Rs. 50,000 and varying rates for higher incomes. A surcharge is applicable for incomes exceeding Rs. 60,000. Employers must deduct tax from salaries exceeding Rs. 50,000 and consider aggregate salaries if an employee has multiple employers. Provisions for deductions, rebates, and exemptions, such as those for medical expenses and housing loans, are detailed. Employers must issue TDS certificates and comply with reporting requirements. Penalties apply for non-compliance.