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Highlights / Annotations / Catch Notes For January of 2021

Home Highlights January January 2021 Year 2021

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Showing 51 to 100 of 368 Records

123 4 5 6........ 8

January 27, 2021 Case Laws Income Tax

Eligibility for MAT credit u/s 115JAA - the amount of the MAT tax credit, inclusive of surcharge and education cess etc., if any, should be reduced from the amount of......
January 27, 2021 Case Laws Income Tax

Revision u/s 263 - loss on OTS - since the AO has ignored the relevant provisions of the Act before allowing the claim of the assessee of loss on OTS account and without....
January 27, 2021 Case Laws Income Tax

Disallowance of expenditure in nature of exceptional items claimed u/s 36(1)(vii) - Bad debts - All the AO has to examine is whether the amount of aforesaid charges so......
January 27, 2021 Case Laws Income Tax

Addition u/s 68 - Bogus LTCG on the sale of equity shares - The sale proceeds of such shares was credited to the bank account of the assessee. A copy of bank account......
January 27, 2021 Case Laws Income Tax

Deemed unexplained expenditure u/s 69C - As both the parties agreed that in conformity with the procedure of law laid down in the Act for admission of additional......
January 27, 2021 Case Laws Income Tax

Income from house property - ALV determination - Methodology as adopted by Ld. AO to estimate the income @8% of value of the property is not in accordance with the......
January 27, 2021 Case Laws GST

Provisional Release of detained goods alongwith Truck - Section 129 and 130 of the GST Act - As we are relegating the writapplicants to avail an alternative remedy of......
January 27, 2021 Case Laws VAT and Sales Tax

It is well settled in law that a decision of the court is only an authority for what it decides and not what can logically be deduced therefrom. It cannot be quoted for.....
January 25, 2021 Case Laws Income Tax

Depreciation on block of assets @60% - AO held that the media resource board is plant and machinery but is not a computer by holding it to be a telecom equipment and......
January 25, 2021 Case Laws Income Tax

Condonation of delay in filing the returns - claim of deduction u/s 80P rejected - Since a time frame of three months from the date of receipt of the certified copy of......
January 25, 2021 Case Laws Income Tax

Revision u/s 263 - deduction of interest expenditure against the interest income - PCIT has rightly taken the view that the A.O had wrongly allowed the assessee’s claim.....
January 25, 2021 Case Laws Income Tax

Assessment u/s 153A - Validity of approval u/s 153D - It is not possible on the part of the Addl.CIT to go through the orders in about more than 100 cases on the very......
January 25, 2021 Case Laws Income Tax

Addition u/s 69A - Addition based on assessee's statement recorded u/s 132(4) - Even there is no question which has been raised to the assessee as part of his statement.....
January 25, 2021 Case Laws Income Tax

Levy of late fee u/s 234E - delay in filing the above TDS statement - Fee for default in furnishing statements - interest of justice would be met if the delay in filing.....
January 25, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Corporate Debtor failed to make repayment of its dues - pre-existing dispute or not - the disputed invoices were rightly sent to the respondent -......
January 23, 2021 Case Laws GST

Classification of goods - threaded metal nuts which function same as standard nuts - The impugned goods, i.e., Metal Nuts with metrical threading, Metal Nuts without......
January 23, 2021 Case Laws GST

Classification of goods - Shatamrut Chyavan - The impugned product is also advertised, marketed, and sold, as cattle feed, which when fed in certain doses with other......
January 23, 2021 Case Laws Income Tax

Addition u/s 68 - CIT(A) assessed under the head "income from other sources" - the ld. CIT(A) has made a lucid analysis of the record available before her, and......
January 23, 2021 Case Laws Income Tax

Penalty u/s 271(1)(c) - The assessee company also disclosed the investment in construction in hospital as non current investment in balance-sheet. Thus, the assessee......
January 23, 2021 Case Laws Income Tax

TDS u/s 194J - non-deduction of tax at source on domestic roaming charges paid to other telecom operators - CIT(A) have erred in ignoring the statement of technical......
January 23, 2021 Case Laws Income Tax

Revision u/s 263 - wrong working of WIP - Pr. CIT has not pointed out as to where the error has occurred. He had a suspicion that income is not accounted for correctly......
January 23, 2021 Case Laws Income Tax

Exemption u/s 11 - cancelling the registration of the assessee Trust U/s 12A - CIT(C) has stated that the activities of the assessee associations are not genuine and are....
January 23, 2021 Case Laws Income Tax

Write off of irrecoverable principal amount of loan - AO had allowed the claim of bad debts in respect of the unrealized interest but had disallowed the claim in respect....
January 23, 2021 Case Laws Customs

Provisional attachment - There are no justification to continue with the provisional attachment of the bank accounts of the petitioner - The initial period of six months....
January 23, 2021 Case Laws Indian Laws

Dishonor of Cheque - Section 147 of N.I. Act has made every offence punishable under the N.I. Act as compoundable. As such, there is no bar for the parties in the......
January 22, 2021 Case Laws GST

Levy of GST - Reverse Charge Mechanism - salary paid to Director of the company who is paid salary as per employment contract, after deduction of TDS as well as PF -......
January 22, 2021 Case Laws GST

Profiteering - restaurant service supplied by the Respondent - allegation that the reduction in the rate of tax not passed on by way of commensurate reduction in price -....
January 22, 2021 Case Laws Income Tax

Reopening of assessment u/s 147 - Claim of deduction made u/s 10A and 10B - the applicability of Clauses (ii) and (iii) of Sub Clause (2) to Section 10B of the Act, the.....
January 22, 2021 Case Laws Income Tax

Addition u/s 40A(2) - remuneration paid to the Managing Director nearly 90% of the returned income of the assessee company - CIT (Appeals) as well as the Tribunal have......
January 22, 2021 Case Laws Income Tax

Addition u/s 68 - Cash deposits of special Bank notes of ₹ 500/- and ₹ 1000/- made during the demonetization period - in the peculiar facts narrated above,......
January 22, 2021 Case Laws Income Tax

TDS u/s 194A - Associate Members of Co-operative Society - the assessee is able to collect deposit from them and also lend the money to them. Hence, we are of the view......
January 22, 2021 Case Laws Income Tax

Disallowance on additional deprecation claimed as plant and machinery other than milk can equipments - The extra depreciation allowable u/s 32{1) (iia) in an extra......
January 22, 2021 Case Laws Income Tax

Rectification u/s 254 - Both CBDT Circular no. 23 of 2019 and special order dated 16.09.2019 were not in existence and thus not part of the record at the time when the......
January 22, 2021 Case Laws Income Tax

Disallowance of wage arrears u/s 40a(ia) - contingent liability or not - non deduction of TDS - assessee created an adhoc provision for wage arrears - Liability has been....
January 22, 2021 Case Laws Customs

Confiscation of goods - For the period from 14.08.2018 to 06.02.2019, respondent No. 1 is under a legal obligation not to charge any rent or demurrage on the goods of......
January 22, 2021 Case Laws Customs

Refund of Rubber Cess - The appellate tribunal, on its own, should have looked into the matter on its own merits. For the purpose of considering the case-law referred to....
January 22, 2021 Case Laws Companies Law

Validity of de-activation of the Director Identification Number (DIN) - The writ petition for challenge to the de-activation of the Director Identification Number is......
January 22, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - The existence of debt and default is established and no winding up proceedings against the appellant and appellant is not covered by the......
January 22, 2021 Case Laws Indian Laws

Dishonor of Cheque - insufficiency of funds - The Court below has materially erred in not properly appreciating and considering the presumption in favour of......
January 21, 2021 Case Laws GST

Supply of Works Contract - contract entered into with AVVNL as per two work orders combine of supply, erection, testing and commissioning of materials/ equipments for......
January 21, 2021 Case Laws GST

Provisional attachment of other accounts of petitioner alongwith the cash credit account - As the PAN Card number is common, no sooner the authority concerned instructed....
January 21, 2021 Case Laws GST

Validity of prosecution proceedings under GST - fake invoices - In view of the scheme of the Act, this Court has no hesitation to hold that in the cases of present......
January 21, 2021 Case Laws GST

Provisional attachment of Bank Accounts of petitioner - Although the provisions of Section 281B of the Income Tax Act is pari materia to Section 83 of the State GST Act,....
January 21, 2021 Case Laws GST

Recovery of dues - blocking the input tax credit available in the credit ledger account of the writ applicant for recovering dues - invocation of Rule 86A of the Central....
January 21, 2021 Case Laws Income Tax

Refusal of request for Extension of due date for filing income tax returns for the assessment year 2020-21 - Power exercised by the CBDT under section 119 of the Act is.....
January 21, 2021 Case Laws Income Tax

Penalty u/s 271(1)(c) - disallowance of the deduction u/s 80IA - the computation of the cost of steam was a highly technical and complicated issue and further, the said.....
January 21, 2021 Case Laws Income Tax

Depreciation on Gym Equipment - At the most if any equipment has been placed for exclusive use of Managing Director the same should be added as perquisite in the hands......
January 21, 2021 Case Laws Income Tax

Depreciation on xerox machine - at the rate of 15% OR 60% as claimed by the assessee - CIT(A) has granted this rate of depreciation on all other assets, which are......
January 21, 2021 Case Laws Companies Law

Jurisdiction - power of NCLT to appoint Special Officer - allegations and grievances among the management/ owners - Since the pleadings were pending and in order to......
January 21, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - pre-existence of dispute - There was no dispute existing prior to the first demand notice and only disputes raised prior to the first demand notice.....

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