Chaitra Seetharam
Quick Summary
The Supreme Court of India has significantly influenced Indian taxation. The Court has clarified complex legal issues and interpreted tax laws through its many landmark judgments, ensuring consistent application of these laws. These decisions have significantly affected both individuals and bus
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FAQ :
The Supreme Court has significantly influenced Indian taxation by clarifying complex legal issues and interpreting tax laws through landmark judgments, ensuring consistent application and affecting tax policies for individuals and businesses.
The Supreme Court has addressed important direct tax issues including the reassessment of income tax, transfer pricing, deductions and allowances, and tax avoidance and evasion.
The Supreme Court ruled in favour of Vodafone, holding that offshore transactions between non-resident entities were not directly associated with Indian assets and thus not taxable in India under the prevailing law at that time, impacting cross-border transaction taxation.
The Supreme Court ruled that Input Tax Credit (ITC) can be claimed on GST paid for inputs used in the construction of commercial buildings like malls, offices, and factories, provided a functionality test confirms the building's essential role in the business activity.
This judgment states that a simple discrepancy between GSTR-2A and GSTR-3B is insufficient to deny Input Tax Credit (ITC); tax authorities must investigate if the supplier has remitted the tax to the government.
The Supreme Court admitted a Special Leave Petition (SLP) filed by the DGGSTI against the Karnataka High Court's decision to quash a GST show-cause notice, indicating the case concerning the taxability of online games is ongoing and significant for the industry.
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