sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 RBI-Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2018
 How senior citizens can avail tax break on interest income under Sec 80TTB a
 Listed companies paid a little less than a third of corporate tax in FY18
 Gifts received from relatives are not taxable
 Income tax return benefits: National Pension System (NPS) also offers this 'hidden' tax relief
 Big 4 audit companies may suffer revenue hit due to conflict of interest norms
 How much tax do you pay on your bond investments?
 Companies rush to reconcile financial results with state wise audit, seek extension of deadline
 Interim budget may include income tax announcements, says report
 All you need to know about tax benefits for senior, super senior citizens
 Where to invest money for the short term

SC drops Pepsico petition against sales tax demand
April, 07th 2011

The Supreme Court has dismissed the petition of beverages major Pepsico that challenged the imposition of sales tax on rentals collected from its distributors for glass bottles and crates.

A bench comprising justices Munkundakam Sharma and A R Dave dismissed the petition of Pepsico India , a unit of the US-based foods and beverages major, challenging the direction of the taxing official to pay sales tax on the rentals.

The sales tax department of Uttar Pradesh had directed the company to pay the duty on Rs 8.5 crore collected from its distributors in 1999-2000.

The officials also directed Pepsico to pay interest on the sum acquired from rentals of glass bottles and crates.

Pepsico contended that it did not constitute a sale under the UP Trade Tax Act. Rental on glass bottles and crates did not amount to transfer of right to use the goods for value.

However, the Supreme Court rejected the contentions of Pepsico by observing that the company in its accounts itself mentioned the revenue generated from it.

"In the present case, the appellant (Pepsico) has themselves mentioned in their account the turnover in respect of rentals by distributors of glass and crates. However, Pepsico has disputed that the said turnover is liable to tax," the bench said.

Earlier, Pepsico had approached the Lucknow bench of the Allahabad High Court seeking revision of the tax demand, which dismissed its petition in December 2007.

Following it, Pepsico approached the Supreme Court, which has also dismissed its petition.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions