The Year 2017 was full of ups and downs. This year witnessed several milestone ruling and judgments regarding tax and corporate laws. During this year, the Central Board of Direct Taxes tried utmost efforts to lessen the frivolous conflicts of taxpayers and reduce the litigations at a minimum level. However, it has been observed that notifications or clarifications were less than the year 2016. There are several cases of tax and corporate laws which were reported in 2017 year. Wanted to know what were they? Then read this full blog and get all your answers. Moreover, you can also hire taxation law assignment help at affordable prices.

Have a Look at These Top Tax & Corporate Laws Cases

Agricultural Companies levied DDT on dividend

In this case of “Union of India v. Tata Tea Co. Ltd. [2017] 85 taxmen 346”, the Apex court that is Supreme Court has upheld the validity of Constitutional law which was written in section 115-O. According to that additional tax will be levied on the dividends. However, it has been mentioned in the section that it would be applicable in distribution, an event of declaration, payment of the dividend by a company. No matter if the company is earning agricultural income, it is essential to levy DDT on the dividend.

Delhi High Court strikes down some ICDS provision

Referring to the case Chamber of Tax Consultants v. Union of India [2017] 87 taxmann.com 92, the Delhi High court gave some relief to the taxpayers by reducing certain provisions of ICDS. These provisions were overriding the rules that were coming under Income Computation and Disclosure Standards. The High Court stated that the Central Board of Direct Taxes cannot override the rules and predefined legal place under the act which was regarding the concepts of prudence, accrual, materiality, income, etc.

If Payee can’t identifiable, then there will be no deduction

Delhi Tribunal gave a historic judgment in the case of Apollo Tyres Ltd. v. DCIT [2017] 78 taxmann.com 195. The Court stated that it is a prerequisite to identifying the person from whom account tax is going to deduct. These provisions were mentioned in Chapter XVII-B. If payee details are not certain, then there is a provision you can’t deduct the taxes. This judgment was observed in this case. If you want to know more details about this topic, then you can hire Corporate Law assignment help without any hassle. They have a team of scholars who have expertise in the law field.

When Clean Energy Cess paid, then no cess will be going to pay on Stock of Coal

Mohit Minerals (P.) Ltd. v. Union of India [2017] 84 taxmen 268 cases bring a new outcome in which Delhi Court gave interim relief to the organizations from paying further of Goods & Services Tax (GST) on that stock of coal which has already provided clean energy cess. This was given in terms of the Finance Act, 2010. GST (Compensation) Act, 2017 stated that there is no need to cess or payment on coal if you have done your job by already paying the amount. For complete information regarding cases, contact BookMyEssay. They offer top-quality online assignment help for university students so that they can make effective essays on this topic.

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