Institutions earning profit from educational activities will not get tax exemptions

28 ViewsThe Supreme Court has held that an institution earning profit from educational activities will not get exemption from income tax. With this it has reversed Punjab & Haryana High Court judgment where Baba Banda Singh Bahadur Education Trust was allowed exemption despite making profit from educational activities. “In the recent decision of this Court […]

Bail denied to accused of fake invoices due to ongoing investigations to unearth more fake suppliers

The Apex Court has refused to interfere with the order passed by the Hon’ble Chhattisgarh High Court, wherein bail was denied to the accused in the alleged matter for availment of wrong Input Tax Credit, on the ground that investigations were still going on for detecting more fake suppliers and investigations might be hampered if bail was granted.

Integrated Desktop Computer cannot be classified as ‘portable device’

100 ViewsThe Hon’ble Supreme Court in Hewlett Packard India Sales Pvt. Ltd. & Anr. v. Commissioner of Customs (Import), Nhava Sheva [Civil Appeal No. 5373 and 6715 of 2019, dated January 17, 2023] set aside the orders of CESTAT, Mumbai, which classified the Integrated Desktop Computer as a portable device. Held that, such goods cannot be classified as ‘portable’ for the reasons that their dimensions make it illogical and unviable for […]

Replacement of old machinery with new machinery for improvement in quality/quantity results in ‘Modernisation’ and not diversification

123 ViewsThe Hon’ble Supreme Court in AMD Industries Limited v. Commissioner of Trade Tax, Lucknow and Anr. [Civil Appeal No. 108 of 2023 dated January 9, 2023] upheld the order passed by the Hon’ble Allahabad High Court holding that due to advancement in technology, if there is a replacement of the old machinery with the […]

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