Supreme Court of India
Demonetization: SC to hear PIL seeking Withdrawal of all Taxes and Complete Ban of High Value Notes on Friday
The division bench of the Supreme Court, on Tuesday agreed to hear the PIL seeking complete ban of Rs. 500, 1000 and 2,000 notes and withdrawal of all...
Surcharge under Orissa Sales Tax Act must be levied before deducting Amount of Entry Tax paid by a dealer: SC [Read Judgment]
In a recent decision, the two-judge bench of the Supreme Court, while upholding the validity of letter dated 20.11.2001, issued by the Orissa Government, has categorically held that the surcharge...
SC allows exemption to Raw-Materials purchased against Form III-B under U.P. Trade Tax Act [Read Judgment]
The two-judge bench of the Supreme Court, in a recent judgment upheld the order of the High Court, in which it was observed that,under the relevant provisions of the U.P. Trade Tax Act, 1948,...
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 capital assets of a going concern by a partner to...
![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]")
No Exemption to 'Tea' under the Assam Industries (Sales Tax Concessions) Act: Supreme Court [Read Judgment]
Supreme Court confirms Denial of Exemption to Tea under the Assam industries (Sales Tax Concessions) Act. While confirming the denial of sales tax exemption to “tea” under the provisions of the Assam...
Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]
In a recent decision, the Supreme Court held that the share issue expenses are allowable under section 35D of the Income Tax Act, 1961. The Supreme Court bench comprising of Justice A K Sikri and...
![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]")