Supreme Court Dismisses Director SJ Suryah's Plea For Injunction Against Hindi Remake Of Tamil Film 'Valee'

A Supreme Court bench of Justices MR Shah and BV Nagarathna recently upheld Madras High Court's order dated November 12, 2021 of refusing to grant injunction against the remake of the Tamil film "Valee".SJ Suryah, the director of the 1999 film starring Ajith and Simran, had approached the Top Court. Dismissing his petition, the Top Court in the order dated April 25 said, "We have heard Mrs. V. Mohana, learned Senior Advocate, appearing for the petitioner for about half an hour...

Immunity Under Income Declaration Scheme Available Only To The Declarant; Can't Be Extended To Another Assessee : Supreme Court

The Supreme Court has found fault with a Gujarat High Court judgment for extending the immunity under the "Income Declaration Scheme" (IDS) to an assessee who was not the declarant under the scheme.The High Court had quashed the reassessment notice issued under Sections 147/148 of the Income Tax Act, 1961, against a company M/s MR Shah Logistics Private Ltd. One of the grounds for the re-opening of the assessment was contended to have been a declaration by another company, Garg Logistics Private...

Whether Product `Nimbooz' Can Be Classified Under Item `Lemonade' Or `Fruit Pulp Or Fruit Juice Based Drinks': Supreme Court To Consider

The Supreme Court recently agreed to consider whether the product `Nimbooz' can be classified under item `Lemonade' and/or as `fruit pulp or fruit juice based drinks' for the purpose of Central Excise levy.The bench of Justices MR Shah and BV Nagarathna agreed to consider the question while issuing notice in the civil appeal assailing the order dated October 1, 2021 passed by the Customs,Excise And Service Tax Appellate Tribunal Regional Bench At Hyderabad. Case Before CESTAT, HyderabadAn appeal...

Supreme Court Remits Tax Appeal Back To Rajasthan High Court, Says High Court Cannot Dispose Of Appeal With A One Paragraph Order

The Supreme Court has ruled that a High Court is not justified in disposing of a tax appeal with a one paragraph order without discussing the issues arising for consideration. The Bench, consisting of Justices U.U. Lalit and S. Ravindra Bhat, has remitted a matter back to the Rajasthan High Court for fresh consideration of a tax appeal filed by the revenue department against the order of the Jaipur bench of ITAT. The Assessing Officer (AO) had made additions to Assessee Motisons...

Banks Exempted From Deducting Tax At Source While Paying Interest To Statutory Corporations : Supreme Court Reiterates

The Supreme Court has reiterated that Banks are exempted from the mandate of Section 194A of the Income Tax Act, 1961, to deduct tax at the source (TDS), on payment of interest to corporations established by a statute. In the facts of the present case, the Apex Court held that in terms of the notification dated 22.10.2022 issued by the Central Government, the Union Bank of India (appellant) was exempted from the requirement under Section 194A, Income Tax Act, 1961, to deduct tax at ...

Service Tax - Exemption Notification Should Not Be Liberally Construed ; Assessee Has To Show That He Comes Within Its Purview: Supreme Court

The Supreme Court observed that exemption notification should not be liberally construed and it is for the assessee to show that he comes within the purview of the notification.The bench comprising upheld the order passed by Customs, Excise and Service Tax Appellate Tribunal, Principal Bench, New Delhi which held that the Krishi Upaj Mandi Samiti (Agricultural Produce Market Committees) located in different parts of State of Rajasthan liable to pay service tax under the category of "renting...

Supreme Court Allows Adjustment Of Installments Made Under Income Declaration Scheme For Computing Tax Liability

A Bench of Supreme Court, consisting of Justices U.U. Lalit and P.S. Narasimha, allowed the adjustment of installments made under the "Income Declaration Scheme, 2016" in computing the tax liability of the Assessee for the relevant assessment years. The Assessee, having made a declaration under the "Income Declaration Scheme, 2016", had made two installments of tax with respect to the income disclosed under the Scheme, but defaulted in the payment of the final installment. The...

TDS On MACT Awards: Supreme Court Asks Centre To Look Into Unclaimed Refunds Of Claimants Who Are Not IT Assessees

The Supreme Court on Thursday directed the Central Government to look into the issue of money deduced from motor accident compensation awards as Tax Deducted at Source (TDS) lying as unclaimed refunds with respect to claimants who may not come within the bracket of Income Tax assesses. A bench comprising Justice Sanjay Kishan Kaul and Justice MM Sundresh was hearing the case Bajaj Allianz General Insurance Company Private Ltd. vs. Union of India in which it is considering guidelines to...

Income Deduction For State Govt Undertakings - 'Exclusivity' Under S. 40(a)(iib) of Income Tax Act Not Based On Number Of Undertakings : Supreme Court

The Supreme Court has rejected the argument raised by the Kerala State Beverages Corporation that it is entitled to deduct the levies made by the state government on it from income. The Beverages Corporation's claim was on the premise that the license given to by the State Government to trade in liquor was not 'exclusive'. Section 40(a)(iib) of the Income Tax Act, which refers to charges paid to the government that are not deductible from income, uses the word "exclusively". The Supreme Court...

ITAT Cannot Recall Its Order By Invoking Power U/Sec 254(2) Income Tax Act : Supreme Court

The Supreme Court observed that the Income Tax Appellate Tribunal cannot recall orders passed by it invoking power under Section 254(2) of the Income Tax Act.Section 254(2) power is only to correct and/or rectify the mistake apparent from the record and not beyond that, the bench comprising Justices MR Shah and BV Nagarathna said.In this case, the ITAT allowed the Revenue's appeal and held that payments made for purchase of software are in the nature of royalty. The Assessee filed miscellaneous...

'Court Cannot Rewrite Statutory Language' : Supreme Court Sets Aside Madras HC Order Reading Down Advance Notice Condition For Broadcasters Under Rule 29(4) Of Copyright Rules

The Supreme Court set aside an interim order passed by the Madras High Court in a writ petition filed by some broadcasters/FM Radios challenging Rule 29(4) of Copyright Rules, 2013."Craftsmanship on the judicial side cannot transgress into the legislative domain by re-writing the words of a statute. For then, the judicial craft enters the forbidden domain of a legislative draft.", the bench of Justice DY Chandrachud and BV Nagarathna observed in the case Saregama India Limited vs. Next Radio...

Counter-Productive To Exercise Powers Under Patents Act Over COVID Vaccines, Drugs At This Stage, Centre Tells Supreme Court

The Centre has told the Supreme Court that it is not in favour of exercising powers under the Patents Act, such as compulsory licensing or government authorization, over COVID-19 vaccines and medicines at this stage.In an affidavit filed before the top court, the Central Government has said that it is engaging in diplomatic level talks with other nations for procurement of vaccines and medicines, and any discussion on exercise of statutory powers under Patents Act will be counter-productive at...