exemption Archives

State ‘exclusivity’ for disallowance of certain fee, charge, etc. is to be viewed from the nature, not the number of undertakings on which the levy is imposed: SC

Supreme Court: The Division Bench of R. Subhash Reddy* and Hrishikesh Roy, JJ., held that to determine State Monopoly for disallowance of

Case Briefs Supreme Court

Arcelor Mittal Nippon Steel India Limited to pay the purchase tax of Rs. 480 Crores as SC sets aside Gujarat HC verdict

Supreme Court: In a major blow to Essar Steel Limited, now Arcelor Mittal Nippon Steel India Limited), the bench of MR Shah*

Case Briefs Supreme Court

Whether charitable education institutions exempted from levy of electricity duty under Maharashtra Electricity Act, 2016? Supreme Court interprets

Supreme Court: The Division Bench comprising of M. R. Shah* and Sanjiv Khanna, JJ., reversed the impugned order of the High Court

Legislation Updates Rules & Regulations

SEBI to generate registration number instead of NSDL: SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2022 notified

On January 14, 2022, the Securities and Exchange Board of India notifies Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment)

Case Briefs Tribunals/Commissions/Regulatory Bodies

CESTAT | When road construction is exempt; is every activity exempt relating to the road construction including consulting engineer services? Tribunal answers

Customs, Excise and Services Tax Appellate Tribunal (CESTAT): The Coram of Anil Choudhary (Judicial Member) and P. Anjani Kumar (Technical Member) allowed

Case Briefs High Courts

HP HC | Exemption for not giving prior notice under S. 80 CPC granted to petitioner as the matter was of urgent importance; prohibitory injunction granted

Himachal Pradesh High Court: Sandeep Sharma, J. contemplated the instant petition filed under Article 227 of the Constitution of India where the

Case Briefs Tribunals/Commissions/Regulatory Bodies

AAR | Business Transfer Agreement as a going concern held exempted from the levy of GST in terms of the relevant Notification

Authority for Advance Rulings (GST), Uttarakhand: Vipin Chandra and Amit Gupta (Members), addressed an application stating the following question: “Whether “Business Transfer

Case Briefs High Courts

Raj HC | State directed to consider grant of exemption from test to petitioner on basis of parity with other employees

Rajasthan High Court: The Bench of Goverdhan Bardhar and Mohammad Rafiq, JJ. disposed of a petition filed by the petitioner challenging the

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | Exemption from public announcement of open offer for acquiring shares, where no change in control of Target Company post-takeover

Securities and Exchange Board of India: The Board comprising G. Mahalingam as Whole Time Member, allowed a consortium of port trusts exemption

Legislation Updates Notifications

Income tax exemption for gratuity enhanced Up to Rs 20 lakhs

Ministry of Finance has enhanced the income tax exemption for gratuity under Section 10 (10) (iii) of the Income Tax Act, 1961

Case Briefs Tribunals/Commissions/Regulatory Bodies

CESTAT | To invoke longer period of limitation, evidence to show suppression or misstatement with malafide intention to be provided

Customs, Excise and Service Tax Appellate Tribunal, Allahabad (CESTAT): This appeal was filed before Archana Wadhwa, J. and Anil G. Shakkarwar, Member

Case Briefs High Courts

Orissa HC | Women are exempted in the State of Orissa from payment of Court Fees

Orissa High Court: A Bench comprising of Dr A.K. Rath, J. clarified the point on exemption of paying court fees in respect

Case Briefs Tribunals/Commissions/Regulatory Bodies

Exemption from payment of excise duty must be followed by a reversal of 6% of the value of exempted goods or maintenance of separate account of inputs and credits

Customs, Excise and Service Tax Appellate Tribunal (CESTAT): A Division bench comprising of C.L. Mahar (Technical) and Ajay Sharma (Judicial), Members. upheld

Case Briefs Tribunals/Commissions/Regulatory Bodies

Exemption granted from application of Section 3(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Securities and Exchange Board of India (SEBI): G. Mahalingam, whole time Member, in this order granted exemption from application of Section 3(2)

Case Briefs High Courts

Petitioner, being a poor person, partially exempted from payment of compounding fee

Himachal Pradesh High Court: A Single Judge Bench comprising of Vivek Singh Thakur, J., decided a revision petition wherein the order of

Case Briefs Supreme Court

Essar to pay electricity duty of Rs. 1038.27 Crores to the State of Gujarat

Supreme Court: Refusing to interfere with the decision of the Gujarat High Court directing Essar Steel India Ltd. (ESL) to pay electricity

Case Briefs High Courts

Exemption of tax on capital gains cannot be granted to an undertaking showing profit on ground of its revival charted out of BIFR

Delhi High Court: A Division Bench was seized of the question whether an undertaking which was being revived by BIFR could be

Case Briefs Supreme Court

Exemption on ‘palace’ under Section 10(19A), Income Tax Act cannot be split in two parts, i.e., the one in occupation and the other in possession of the tenant

Supreme Court: Deciding the question as to whether a former ‘ruler’ is entitled to get full benefit of the exemption granted to

Case Briefs Supreme Court Taxation

Buildings constructed from the year 1990-1993 entitled to tax exemption as per S. 3A of the Kerala Buildings Act, 1993

Supreme Court: Deciding on the issue that whether the State Government may deny the tax exemption which was promised earlier, the bench

Supreme Court

Provision exempting tax should be conferred purposive interpretation

Supreme Court: In the instant case a dispute pertaining to assessment of Long Term Capital Gain under Section 54 of the Income