![Income from Sale of Assets of ongoing concern is Taxable as ‘Capital Gain” from the hands of the partner after the Dissolution of the Firm: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "Income from Sale of Assets of ongoing concern is Taxable as ‘Capital Gain” from the hands of the partner after the Dissolution of the Firm: SC [Read Judgment]")
Income from Sale of Assets of ongoing concern is Taxable as ‘Capital Gain” from the hands of the partner after the Dissolution of the Firm: SC [Read Judgment]
While upholding the order of the Karnataka High court, the two-judge bench of the Supreme Court observed that the income arising out of the sale of...
![Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Supreme-Court-of-India-Tax-Scan-1.jpg "Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]")
SC stays Delhi HC verdict holding Arrest of MakemyTrip Officials by DGCEI without SCN is Unconstitutional
The Supreme Court of India today stayed Delhi High Court verdict declaring arrest of service tax Makemytrip Officials without Show Cause Notice (SCN) is Unconstitutional. The bench comprising of...
SC dimisses Appeal against denial of Dual Benefit of Partial Exemption from Sales Tax [Read Judgment]
The two judge bench of Supreme Court of India has dimissed an appeal filed by J.K. Lakshmi Cement Ltd against the denial of dual benefit of Partial exemption from the sales tax payable in respect of...
![SC confirms 4% VAT on ‘Bitumen Emulsion’ [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/09/Bitumen-Emulsion-Taxscan.jpg "SC confirms 4% VAT on ‘Bitumen Emulsion’ [Read Judgment]")
SC disallows ‘packing material’ as ‘raw material’ for the purpose of exemption under Karnataka Entry Tax Act [Read Judgment]
While dismissing an appeal filed by Hindustan Lever Ltd (Hindustan Lever Ltd vs State of Karnataka), the two judge bench of Supreme Court of India observed that, the packing material cannot be...
No Jurisdiction to Dy. Director of Income Tax to file complaint for Contempt against Income Tax Officers: SC [Read Judgment]
In a recent ruling, the Supreme Court of India has held that, the Deputy Director of Income Tax (Investigation) is not competent to file criminal complaint for the contempt against the Income Tax...
Definition of the term 'Permanent Establishment' under DTAA need not be read with the provisions of Income Tax Act: SC
The Term 'Permanent Establishment” as per the India-US DTAA does not include installations and structures ‘ready to use’: says Supreme Court. The two-judge bench of the Supreme Court in a recent...