High Court
Exclusive Jurisdiction Clause Prevails Over Arbitrator's Procedural Order In Determining 'Seat' Of Arbitration: Delhi High Court
The Delhi High Court bench of Justice Jasmeet Singh has held that an 'exclusive jurisdiction clause' in the arbitration agreement unequivocally denotes the 'seat' of arbitration. The court observed that any contrary determination made by the Arbitrator without the express written consent of the parties only relates to a 'venue' under Section 20(3) of the Arbitration and Conciliation...
Income Tax | Sales Tax Incentive Under Govt Scheme For Industrial Promotion Is Capital Receipt, Not Taxable: Bombay High Court
The Bombay High Court has stated that sales tax incentive under a government scheme for industrial promotion is a capital receipt, not taxable.Chief Justice Alok Aradhe and Justice Sandeep V. Marne were addressing the issue of whether an incentive received in sales tax liability under a Scheme formulated by the State Government would be on the capital account, exempt from taxation, or on...
Delhi High Court Rejects Income Tax Department's Appeal Against Thomson Press Over Alleged Transaction Of Property Below Circle Rate
The Delhi High Court has dismissed an appeal preferred by the Income Tax Department against Thomson Press (India) over the sale of a property in Noida back in 2013, allegedly at a price much lower than the prevailing circle rate.A division bench of Justices Vibhu Bakhru and Tejas Karia noted that the registered agreement to sell and payment of stamp duty with respect to the property...
Delhi High Court Sets Aside ₹10 Crore Security Demanded By Customs For Provisional Release Of Seized Goods, Calls It 'Onerous'
Coming to the rescue of an importer, the Delhi High Court has set aside the security of ₹10 crore (approx) demanded by the Customs Department for provisional release of its perishable goods.Calling the condition 'onerous', a division bench of Justices Prathiba M. Singh and Rajneesh Kumar Gupta ordered provisional release of Petitioner's imported Roasted Areca Nuts on furnishing bond of...
Delhi HC Sets Aside Income Tax Action Against Rajat Sharma-Owned India TV's Parent Company Over Alleged Unaccounted Foreign Remittances
The Delhi High Court on Wednesday set aside the reassessment action initiated against journalist Rajat Sharma's company, M/S Independent News Service Pvt. Ltd., which owns and runs the India TV channel, over alleged foreign remittances.The notice was issued following a survey conducted by the Income Tax Department at the J&K Bank back in 2019, revealing that the company had made...
S. 245A Income Tax Act | Kerala High Court Allows Settlement Application Filed Beyond Cutoff Date, Citing SC's COVID Limitation Order
The Kerala High Court has allowed the settlement application under Section 245A of the Income Tax Act filed beyond cutoff date, while citing Supreme Court's COVID limitation order. Justices A.K. Jayasankaran Nambiar and P.M. Manoj referred to the order of Supreme Court in MA. Nos.665 of 2021 [In Re Cognizance For Extension Of Limitation] and stated that the assessee had filed...
Appeal On Taxability Including Point Of Limitation Doesn't Lie Before HC U/S 35G Of Central Excise Act: Delhi High Court
The Delhi High Court has reiterated that an appeal from CESTAT under the Central Excise Act 1944 involving the issue of taxability will lie before the Supreme Court under Section 35L.A division bench of Justices Prathiba M. Singh and Rajneesh Kumar Gupta ruled that such an appeal, even on a limited point of limitation, will not lie before the High Court under Section 35G. It observed,“Even...
OPC & Its Sole Director Can't Be Treated As One For Liability Owed: Bombay HC Grants Relief To Director In Dispute Over MasterChef Production
The Bombay High Court has observed that sole director of a One Person Company (“OPC”), cannot be treated parallelly with the separate legal entity.The court set aside the directions in the impugned order dated 10/07/2024 directing Mr. Saravana Prasad ("Prasad") to deposit Rs. 10.40 crores in a fixed deposit, and disclose all assets and all encumbrances, charges and...
Service Of Notice On Adult Member Of Noticee Is Valid U/S 153 Of Customs Act, 1962: Kerala High Court
The Kerala High Court stated that service of notice on the adult member of noticee is valid under Section 153 Of Customs Act, 1962. Section 153 of the Customs Act, 1962, outlines the modes of service for notices, orders, summons, and other communications under the Act and its rules. Justice Ziyad Rahman A.A. stated that “the contentions that the assessee was denied a...
Customs Cannot Rely On S.122A To Deny Personal Hearing Mandatory U/S 28(8) Of Customs Act: Kerala High Court
The Kerala High Court stated that customs cannot rely on Sec. 122A to deny personal hearing mandatory under Section 28(8) of the Customs Act. Justice Ziyad Rahman A.A. after analysing Section 28(8) of the Customs Act observed that it is evident that, as far as personal hearing is concerned, it is made mandatory as per the provision. Since this is a special provision deals with the...
Payments Made To AWS For Cloud Computing Services Not Taxable: Delhi High Court
The Delhi High Court has held that payments made to Amazon Web Services (AWS) for cloud computing services do not qualify as “royalty.” The bench, comprising Justice Vibhu Bakhru and Justice Tejas Karia, upheld the Income Tax Appellate Tribunal's (ITAT) decision which held that such payments are not taxable as royalties or fees for technical services (FTS). The Court referred...
"Purchase Order Containing Arbitration Clause Will Supercede Tax Invoice Which Does Not Contain Arbitration Clause": Calcutta High Court
The Calcutta High Court Bench of Justice Shampa Sarkar while allowing an application for appointment for arbitrator observed that the terms and conditions of the purchase order including the arbitration agreement would prevail over and supersede the terms and conditions of the tax invoice which does not contain an arbitration clause. The Court held that the purchase order was the...