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Highlights / Annotations / Catch Notes For January of 2022

Home Highlights January January 2022 Year 2022

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Showing 201 to 250 of 494 Records

1 2 3 456 7 8 9........ 10

January 19, 2022 Case Laws Income Tax

Reopening of assessment u/s 147 v/s assessment u/s 153C - proceedings initiated u/s 132 - The correct course of reassessment is under section 153C not under section 147.....
January 19, 2022 Case Laws Income Tax

VAT subsidy - Characterization of receipts - taxability of receipts - The refund now VAT as given to the industrial undertakings only for the purpose of fulfilling the......
January 19, 2022 Case Laws Income Tax

Unexplained Cash deposited into Bank Accounts - income from unexplained source u/s 69B - Onus to prove - Onus cast on the Appellant has not been discharged.addition u/s.....
January 19, 2022 Case Laws Income Tax

Unexplained investment u/s. 69 - Non maintenance of books of accounts - When the AO accepted part of her explanation and required the assessee to prove the sources of......
January 19, 2022 Case Laws Customs

100% EOU - demand of duty on wastage/ breakage, over and above the permissible limit, of raw materials imported duty free, during the course of manufacture of final......
January 19, 2022 Case Laws Companies Law

Scope of Deposits - amounts collected by the petitioners for sale of immovable property as advance - would come under the purview of ‘deposits’ or would exempt from the.....
January 19, 2022 Case Laws Insolvency and Bankruptcy

Nomination of IRP/RP for R-3 company - The appointment of an IRP is clearly provided under Section 22 and the replacement of IRP under Section 27 and therefore, this......
January 19, 2022 Case Laws Insolvency and Bankruptcy

Maintainability of application - initiation of CIRP - The Adjudicating Authority has also recorded finding that claim for interest on the delayed payment is a disputed......
January 19, 2022 Case Laws Insolvency and Bankruptcy

Seeking withdrawal of application for initiation of CIRP - On a bare reading of the provision of section 7(5) clauses (a) and (b) it is amply clear that the Adjudicating....
January 19, 2022 Case Laws Insolvency and Bankruptcy

Delay in implementation of approved Resolution Plan - In the present case, the Approved Resolution Plan has been alleged to be contravened by the Successful Resolution......
January 18, 2022 Case Laws GST

Unblocking of Electronic Credit Ledger - Once the statutory period comes to an end, the authority has no further discretion in the matter, unless a fresh order is passed....
January 18, 2022 Case Laws GST

Bail application - claim and availment of bogus ITC on the basis of fake invoices by creating and operating 13 fictitious firms - Having regard to the nature of......
January 18, 2022 Case Laws GST

Lifting of provisional attachment - It is held that under sub-section (2) of Section 83, a provisional attachment ceases to have effect upon the expiry of the period of.....
January 18, 2022 Case Laws GST

Maintainability of appeal to present petition - uploading of appeal on the appropriate portal or not - It appears from the record that the appellant was unaware that it.....
January 18, 2022 Case Laws Income Tax

Reopening of assessment - Validity of approval granted by the CIT - earlier Revision u/s 263 dropped - Notwithstanding this order passed by the Principal Commissioner of....
January 18, 2022 Case Laws Income Tax

Revision u/s 263 by CIT - Eligibility of benefit of exemption to assessee Trust on its income being charitable Trust - The Jurisdiction of the Commissioner u/s 263 is......
January 18, 2022 Case Laws Income Tax

Validity of Reopening of assessment u/s 147 - Existence of reason to believe - The issue squarely falls in the realm “change of opinion”. In our view, the only reason......
January 18, 2022 Case Laws Income Tax

Revision u/s 263 by CIT- Taxability of shares received by way of Gift - The order of ld AO is not erroneous as Gift of shares of the Wockhardt Limited are not chargeable....
January 18, 2022 Case Laws Income Tax

TP Adjustment - benefit test - authorities below have fatally erred in applying the benefit test as rightly contended by the Ld. Counsel of the assessee. Furthermore, it....
January 18, 2022 Case Laws Income Tax

Adjustment made u/s.143(1) - incorrect computation of allowable MAT credit u/s 115JAA - there cannot be any debate as to the exclusion of surcharge and cess - this issue....
January 18, 2022 Case Laws Income Tax

Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents....
January 18, 2022 Case Laws Income Tax

Addition on account of client code modification done by the broker to shift the profit - As such there is no whisper in the order of the authorities below that there was....
January 18, 2022 Case Laws Insolvency and Bankruptcy

Validity of resolution passed at the 12th COC Meeting - Additionally, the Appellant had not chosen to exercise their choice of participating in the open bidding process.....
January 18, 2022 Case Laws Service Tax

Excisable goods or not - Superior Kerosene Oil - Even issue of interpretation whether the Superior Kerosene Oil was an excisable product or not and whether the Superior.....
January 17, 2022 Case Laws GST

Input tax credit on common services - Eligibility of Head Office to avail ITC - in the instant case, it is observed that the common input services received by the......
January 17, 2022 Case Laws GST

Levy of GST on services provided by Head Office to its Branch Offices/Units - it is adequately evident that the impugned activities of providing facilitation services to....
January 17, 2022 Case Laws GST

Classification of supply - supply of goods or supply of services - sale of plots - As per entry 5 of Schedule III of SGST Act, sale of land and, subject to clause(b) of.....
January 17, 2022 Case Laws Income Tax

Violation of the scheme of faceless assessment u/s 144B - The argument of the respondent/Revenue that personal hearing would be allowed only in such cases which involve.....
January 17, 2022 Case Laws Income Tax

Computation of capital gain - determination of full value of consideration - section 50C/50D applicability - Having regard to the facts and circumstances of the case,......
January 17, 2022 Case Laws Income Tax

Characterization of income - unutilized funds of the project - government funds are deployed for an ultimate use in setting up of an infrastructure project - capital or.....
January 17, 2022 Case Laws Income Tax

Bogus purchases - Disallowance in respect of provision of batteries - Whenever any estimation is required to be made guess-work would always be there. But such......
January 17, 2022 Case Laws Income Tax

Addition u/s 68 - unexplained share subscription from various parties - onus to proof - From the above facts it is obvious that the Ld.AO of the shareholders have......
January 17, 2022 Case Laws Income Tax

Accumulation of income - Disallowance of claim made u/s 11(2) - AO disallowed the claim of accumulation u/s 11(2) of the Act on the ground that in the resolution passed.....
January 17, 2022 Case Laws Income Tax

Deduction u/s 54F - flat purchased “within a period of one year before” as contemplated under section 54F - For the purpose of section 54F of the Act, the date of sale......
January 17, 2022 Case Laws Income Tax

Revision u/s 263 by CIT- underassessment of income - CIT doubted the expense claimed u/s. 57(iii) - Claim of general expenses against interest income - No doubt,......
January 17, 2022 Case Laws Income Tax

Revision u/s 263 by CIT - Unexplained investments in foreign financial - First and foremost this was not the purpose for the limited scrutiny assessment, which only......
January 17, 2022 Case Laws Income Tax

Rental income - Deduction for interest on borrowed funds u/s 24(b) - the assessee may have purchased the property out of borrowed funds, but the onus is upon the......
January 17, 2022 Case Laws Income Tax

Computation of closing stock - Merely because the assessee agreed even after the retrieval stock included in the closing stock and considered for computation income in......
January 17, 2022 Case Laws Income Tax

Assessment u/s 153C Or 148 - it cannot be said that the Assessing officer has to necessarily exercise jurisdiction u/s 153C of the Act as the same is subject to......
January 17, 2022 Case Laws Customs

Classification of imported goods - The following four devices, namely Echo Auto, Echo Flex, Echo Link and Echo Link Amp are classifiable under sub-heading 8517 62 90;......
January 17, 2022 Case Laws Customs

Classification of import goods - It is concluded that all the six goods placed before me for consideration, i.e. API supari, chikni supari, unflavoured supari, flavoured....
January 17, 2022 Case Laws Service Tax

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - All the transactions, which are reflected in the statement of account of the petitioner show that,. the......
January 17, 2022 Case Laws Central Excise

Refund of education cess and higher education cess - whether the education cess and higher education cess which were paid along with the excise duty was also liable to......
January 17, 2022 Case Laws Indian Laws

Dishonor of Cheque - insufficiency of funds - The offences under Section 138 of the Act, in fact, though is criminal in nature, but, it has an element of enforcing......
January 15, 2022 Notifications SEBI

Exemption from strict enforcement of the regulations in other cases. - New Regulation 43B inserted - Securities and Exchange Board of India (Foreign Portfolio Investors)....
January 15, 2022 Notifications SEBI

Securities and Exchange Board of India (Settlement Proceedings) (Amendment) Regulations, 2022 - Notification
January 15, 2022 Notifications Income Tax

Computation of exempt income of specified fund, attributable to the investment division of an offshore banking unit, for the purposes of clause (4D) of section 10 of the....
January 15, 2022 Case Laws GST

Transition of Input tax credit - mistake in filing Tran 1 - The petitioner having made a mistake in filing the GST returns on 10.11.2017 was entitled to revise such......
January 15, 2022 Case Laws Income Tax

Assessment u/s 143(3) r.w.s. 144B - Prescribed procedure not followed - The relevant aspects as pointed out by the assessee cannot be said to have been looked into from.....
January 15, 2022 Case Laws Income Tax

Hybrid system of accounting - interest accrued on investments chargeable to tax - Whether ITAT erred holding that the assessee can compute its income chargeable under......

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F: Stock damaged in recent floods

F: GST on Solar Plant

A: PENALTY ON DIRECTORS CONTRAVENING EXPORT REGULATIONS UNDER FOREIGN EXC...

A: Difference between “License” and “Royalty”

A: Penalty proceedings under Section 130 of the CGST Act cannot be initia...

N: Inland Container Depots for loading and unloading of goods - Seeks to ...

C: Guidelines to Stock Exchanges, Clearing Corporations and Depositories

T: Supreme Court Upholds Validity of Re-Assessment Notices Issued During ...

F: Transfer of ITC without filing ITC-02

F: assessment order

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

F: ITC Issue in case of Acqusition of Company in Insolvency

H: Goods matched documents like e-way bill and invoices; detention order ...

H: Goods Inspection Matches E-Way Bill, Lack of Tax Evasion Intent Quashe...

H: Income tax reassessment validity: AO initiated proceedings u/s 147 ins...

H: Reassessment Rules Interpretation: Taxpayer Wins Over Accommodation En...

H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

H: Microphone Tech Classification: Functionality Over Technology.

H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

H: Claim for performance pay not an operational debt under IBC; Multiple ...

A: Director Identification Number

A: No GST is applicable for the services provided by the Director under p...

A: Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on...