Category: Supreme Court

GST ArticleSupreme Court

Constitutional Validity upheld for TOLA which Extends Income Tax Reassessment Time limit

byCA Bimal Jain

The Hon’ble Supreme Court in the case Union of India & Ors. set aside the judgments of the various High Courts which held that the reassessment notices issued under Section 148 of the new regime under the Income Tax Act, 1961, which is in pursuance of the deemed notices, ought to be issued within the time limit surviving under the Income Tax Act, 1961 read with the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions Act) 2021.

GST ArticleSupreme Court

Bank Accounts can be defreezed, which were reattached after Lapse

byCA Bimal Jain

The Hon’ble Supreme Court in the case of RHC Global Exports Pvt. Ltd. & Ors. allowed the application and directed ‘lifting’ and ‘defreezing’ of bank account attachment. Although, attachment had lapsed, there has been a renewal of attachment. Hence, directed to unfreeze the bank account that was previously frozen (blocked from access) and had been re-attached or frozen again after the original freeze had expired.

GST ArticlePre-GSTSupreme Court

No Service Tax on revenue sharing agreement between exhibitor & distributor for exhibiting film

byCA Bimal Jain

The Hon’ble Supreme Court in Commissioner of Central Excise and Service Tax Ludhiana has disposed the appeal filed by Revenue challenging earlier order passed in favour of the Respondent by the CESTAT, which had set aside the demand for service tax w.r.t revenue sharing agreement between Exhibitor and Distributor pertaining to showcasing of films/ movies.