Supreme Court Reiterates Gannon Dunkerley
THE Supreme Court yesterday disposed of around 500 appeals in one single order. The question that was answered in these appeals was whether iron and steel reinforcements of cement concrete that are used in buildings lose their character as iron and steel at the point of taxability, that is, at the point of accretion in a works contract. The Supreme Court found that the matter was no longer res integra as it was concluded by two judgments of the Court, namely, Builders' Assn. of India v. Union of India - , and Gannon Dunkerley and Co. v. State of Rajasthan - 2002-TIOL-103-SC-CT-CB.
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