Rav Singh

CERC Is Exempt from GST: Delhi HC

January 17, 2025January 17, 2025

The Delhi High Court in a recent judgment held that the Central Electricity Regulatory Commission and Delhi Electricity Regulatory Commission (‘Commission’) were not liable to pay GST. The Revenue sought to levy on the fees and tariff that Commission received from the power utilities. The Revenue contended that functions performed by the… Read More »

Shimla HC Decodes Scope of Sec 43-B, IT Act, 1961

January 17, 2025January 17, 2025

In a recent judgment, the Shimla High Court had to adjudicate on the conditions prescribed in Section 43-B, IT Act, 1961 for an assessee to claim deductions. The issue related to Section 43-B(f) which envisages deductions to an employer for payments made to employees on encashment of cash leaves. Facts For… Read More »

Assignment of Leasehold Rights is Immovable Property under GST: Guj HC

January 10, 2025January 10, 2025

Introduction In a recent and much discussed judgment, the Gujarat High Court has held that assignment by sale and transfer of leasehold rights of a plot of land amounts to transfer of benefits arising out of immovable property. The High Court concluded that the transfer would not amount to a supply… Read More »

Telecommunication Towers are Movable Property under GST: Delhi HC

January 8, 2025January 8, 2025

The Delhi High Court in a recent decision held that telecommunication towers are best characterized as movable property under Section 17(5), CGST Act, 2017 and are eligible for input tax credit (‘ITC’). Facts Indus Towers filed a writ petition impugning the showcause notice issued under Section 74, CGST Act, 2017. The notice… Read More »

Issuance of Shares under Amalgamation Scheme is Not Transfer of Property: ITAT

January 4, 2025January 4, 2025

The Rajkot Bench of ITAT recently ruled that issuance of shares under a scheme of amalgamation does not amount to transfer of capital assets under IT Act, 1961. The Assessing Officer had applied Sec 56(2)(vii)(c)(ii) of the IT Act, 1961 to assert that a skewed swap ratio was applied for transfer and… Read More »

Safari Retreats: Supreme Court Adopts a ‘Strict’ Stance

October 9, 2024October 9, 2024

The Supreme Court pronounced its judgment in the Safari Retreats case a few days ago. The judgment involved interpretation of Section 17(5), CGST Act, 2017, specifically clauses (c) and (d) read with two Explanations contained in the Section. The judgment has been greeted with a mixed response by tax community with some… Read More »

Much Ado About Demo Vehicles: Ambiguity on ITC Clarified

September 17, 2024

The CBIC recently issued a Circular clarifying availability of ITC in respect of demo vehicles. The Circular, as I briefly mentioned elsewhere, seems like an exercise in law making rather than a mere interpretation of law. But I will keep that view aside for the purpose of this article. In this article, I… Read More »

Fee for Technical Services: Future Demands Answers

August 27, 2024August 27, 2024

Introduction Tax practitioners tend to refer to Fee for technical services (‘FTS’) and Royalty income in tandem with an intent to highlight the shape shifting nature of both concepts under domestic and international tax law. And in Indian context, the discussion is also about the high volume of litigation that… Read More »

ESOPs-Related Compensation Present an Interesting Dilemma

August 21, 2024August 21, 2024

Introduction Employee Stock Options (ESOPs) are typically taxable under the IT Act, 1961 in the following two instances: first, at the time of exercise of option by the employee as a perquisite. The rationale is that the employee has received a benefit by obtaining the share at a price below the… Read More »

Short Note from Tax History: Cost of Acquisition and Capital Gains Tax

August 13, 2024August 13, 2024

This article aims to examine in detail a judgment on capital gains tax that continues to have enduring relevance. B.C. Srinivasa Shetty case was decided in 1981 by a 3-Judge Bench of the Supreme Court and its observations on chargeability of capital gains tax continue to be cited in various contemporary cases.… Read More »

« Previous
1
2
3
4
…
15
Next »