This weekly round-up analytically summarises the key stories related to the Supreme Court and High Court reported at Taxscan.in during the previous week from January 31 to February 5, 2022.
CIT Vs. Sociedade De Fomento Industrial Pvt. Ltd.
The Supreme Court has upheld the deduction of gains derived by 100% export-oriented undertaking as assessee set up only an expansion of old units and not a new unit.
Assistant Commissioner V/s Asha Oil Traders
The Rajasthan High Court held that the retrospective cancellation of registration of Purchasing Dealer does not affect the right of selling dealer for deduction.
M/s. UCN Cable Network Vs. Designated Committee
The Bombay High Court has held that the Designated Committee erred in not treating SVLDRS declaration by considering two demands in Show Cause Notice, one relating to service tax dues and recovery of disallowed Cenvat credit.
M/s. Shiv Enterprises Vs. State of Punjab
The Punjab and Haryana High Court has held that the GSTC authorities cannot detain goods on grounds of inadmissible ITC which is an issue to be gone into assessment.
The Orissa High Court has held that the entire books of accounts cannot be rejected on the sole basis of non-issuance of sale memos.
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