« From the Courts » Open DEMAT Account in 24 hrs  Karnataka High Court restrains Bengaluru-based Institute of Chartered Tax Practitioners India from enrolling candidates for its courses  Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate  Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court  Inordinate delay in income tax appeal hearings  Income Tax leviable on Tuition Fee in the Year of Rendering of Services: ITAT  Supreme Court invoked its power under Article 142 of Constitution to validate notices issued under section 148 as notices issued under section 148A. However the same shall be subject to amended provisions of section 149.  ITAT refuses to stay tax demand on former owner of Raw Pressery brand  Bombay HC sets aside rejection of refund claims by GST authorities  [Income Tax Act] Faceless Assessment Scheme does not take away right to personal hearing: Delhi High Court  Rajasthan High Court directs GST Authority to Unblock Input Tax Credit availed in Electronic Credit Ledger  Sebi-taxman fight over service tax dues reaches Supreme Court «  Tata Hospital not liable to pay sales tax... SC: Arbitration agreements must be adhered to by the parties... » Punjab Govt appeal dismissed March, 21st 2008 The Supreme Court last week dismissed the appeal of the Punjab government against the judgment of the high court allowing sales tax deduction for Perfect Synthetics, manufacturers of yarn.   The companys stand was that it bought raw materials from tax-exempted units within the state and used them in the manufacture of yarn. A majority of the yarn was sold intra-state and tax on finished goods was paid.   However, the department did not allow deduction in the taxable turnover on the ground that the goods bought by the company are liable to tax at the first stage of sale.   Since no tax on purchase of raw materials from exempted units has been paid, the company was not entitled to the deduction under Rule 29. The high court rejected the departments view and it has been upheld by the Supreme Court.