Tax Ruling
Latest news, explainers and analysis on Tax Ruling. Tracking 2 stories on Arth Vani.
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Latest on Tax Ruling
BreakingITAT Sides With Omaxe, Scraps Tax Addition Linked to 2008 Data
The Income Tax Appellate Tribunal (ITAT) has ruled in favour of real estate developer Omaxe Ltd., rejecting a significant income tax addition. This decision concerns an addition proposed by the tax authorities based on data seized during a search operation conducted in 2008.
BreakingBombay HC Quashes ₹79.7 Cr GST Demand on Karan Johar Firms; Rules Films Not IT Software
The Bombay High Court has overturned a Goods and Services Tax (GST) demand of ₹79.7 crore against two firms owned by Karan Johar, Dharma Productions Pvt Ltd and Dharma Cornerstone Agency LLP. The court ruled that the GST department's classification of film production and distribution services as 'IT software' was incorrect, affirming that films are artistic works, not technology products.
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