The Supreme Court directed Mercedes to refund Rs. 36 lakh to M/s Controls and Switchgear Company Limited for selling a defective car. The court upheld the decision of the National Consumer Disputes Redressal Commission, citing the discomfort and inconvenience caused to the respondent and the lack of evidence from Mercedes to support its claims.
The Supreme Court waived interest on telecom companies’ outstanding license fee dues, providing relief amid financial struggles. Ruling impacts major firms, aiming to stabilize the industry and support growth. This decision follows a classification change, deeming yearly license fees not a revenue expense. Telecommunications companies petitioned for review citing concerns over taxable income. Supreme Court refused reconsideration but expressed willingness to explore exempting post-1999 interest.
The Supreme Court upheld the taxation of bank employees’ concessional loans as ‘perquisites’ under the Income Tax Act, validating SBI’s interest rate as a fair benchmark. This decision ensures fairness in the application of tax laws concerning bank employees’ concessional loan benefits, preventing potential misuse and ensuring predictability.
The Supreme Court allowed the Income Tax department to reassess Environics Trust’s income, stemming from allegations of orchestrating protests. No final orders will be issued yet. The court directed the NGO to cooperate with the investigation. The department alleged that the trust’s activities hinder Indian projects and receive most income from foreign sources.
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The Delhi High Court on Wednesday has set a precedent regarding the prosecution for non-compliance with Tax Deducted at Source (TDS) regulations, emphasizing the necessity of establishing an administrative connection for such actions against corporate office holders. The bench, comprising Justice Yashwant Varma and Justice Purushaindra Kumar, underscored that mere possession of a title within […]
The Delhi High Court has overturned the Central Information Commission’s order directing the Income Tax Department to disclose PM CARES Fund information under the Right to Information Act. The court emphasized the confidentiality of taxpayer information and the necessity of the Fund’s involvement in the decision. This ruling has raised questions about the Fund’s transparency and accountability.
The Delhi High Court has delivered a judgment in favor of Indus Towers, affirming the company’s right to an income tax deduction on an upfront loan processing fee. The bench, led by Justice Rajiv Shakdher and Justice Girish Kathpalia, stated, “merely because the loan processing charges were paid upfront but amortized over a period of […]
The Supreme Court has recently delivered a pivotal ruling concerning Section 245H of the Income Tax Act, 1961. This section bestows the Settlement Commission with the authority to grant immunity from prosecution and penalty to assessees, but with a condition. The assessee must have “co-operated with the Settlement Commission and has made ‘full and true […]