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Vedanta moves SC against Goa cess

Challenging a Bombay High Court order on January 10 that dismissed its plea, Vedanta said the impugned levy is a tax and not a fee since it did not receive any special benefit, either individually or as a member of a class, which the Supreme Court has held to be a requirement for a levy to qualify as a fee in the case of Jalkal Vibhag Nagar Nigam vs Pradeshiya Industrial and Investment Co.

Karnataka , India , Bombay , Maharashtra , New-delhi , Delhi , Jalkal-vibhag-nagar-nigam , Gourab-banerji , Challenginga-bombay-high-court , Vedanta-ltd , Investment-co , Service-tax

Ind Ra upgrades Omax Autos ratings to 'IND B' with Stable outlook; Stock trades flat

The upgrade reflects Omax’s regularization of payments on its interest-free loans.

India , Up-ltd , Pradeshiya-industrial-investment-corporation , Omax-autos-limited-long , Research-ind , India-ratings , Omax-autos-limited , Long-term-issuer-rating , Pradeshiya-industrial , Investment-corporation , Omax-autos

Quid pro quo test no longer the norm

The present ruling of the Supreme Court consciously blurs this line to say that a tax and a fee must not be understood primarily based on the concept of quid pro quo.

Jalkal-vibhag-nagar-nigam , Supreme-court , Investment-corporation-anr , Pradeshiya-industrial , Investment-corporation , Upreme-court-ruling , Uid-pro-quo , Upreme-court-on-quid-pro-quo , Upreme-court-definition-of-quid-pro-quo , Alkal-vibhag-nagar-nigam , Radeshiya-industrial-and-investment-corporation , Ater-tax