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Highlights / Annotations / Catch Notes For October of 2023

Home Highlights October October 2023 Year 2023

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Showing 101 to 150 of 502 Records

1 234 5 6 7........ 11

October 25, 2023 Case Laws Income Tax

Addition u/s 56(2)(viib) - excessive share premium - determination of the FMV of the shares [unquoted equity] - As per the mandate of law, the option to determine the......
October 25, 2023 Case Laws Income Tax

TP Adjustment - MAM selection - once TNMM has been accepted under the similar FAR, there is no reason to deviate by adopting CUP Method and other methods admittedly are.....
October 25, 2023 Case Laws Income Tax

Unexplained Jewellery - stree dhan - quantity of jewellery as per the status and life of the assessee - The assessee stated that the income for all the years had fallen.....
October 25, 2023 Case Laws Income Tax

Nature of expenses - Allowable expenses u/s 37(1) - Interest and late fee on TDS, Late payment & penalty charges, Interest on margin trading facility - There was no......
October 25, 2023 Case Laws Income Tax

Addition on outstanding sundry creditors - reason to believe that there was cessation of liability which was income escaped to tax - It is evident from OTS offer that......
October 25, 2023 Case Laws Income Tax

Penalty u/s 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for.....
October 25, 2023 Case Laws Central Excise

CENVAT Credit - input service or not - waste treatment services received - the effluent treatment activity is indeed in or in relation to the manufacture of final......
October 25, 2023 Case Laws Central Excise

CENVAT Credit - inputs - accessories of the final products cleared along with the final products - The appellants are eligible to avail CENVAT credit on flaps and tubes.....
October 25, 2023 Case Laws VAT and Sales Tax

Best Judgement assessment - non-service of SCN - per Section 36(5), what can be assessed by the Prescribed Authority other than confirming the self-assessment is only......
October 25, 2023 Case Laws Income Tax

TP Adjustment - deemed to be associated enterprises - the contention of the assessee that the status of the enterprise should be examined before entering into the......
October 23, 2023 Case Laws GST

Disallowance of Input Tax Credit (ITC) - supplier/dealer had not remitted the tax collected on the supply - Matter restored back to the Assessing Office to give one......
October 23, 2023 Case Laws GST

Denial of TDS claimed as Transitional Credit under Section 140 of the Tamil Nadu Goods and Services Tax (TNGST) Act, 2017 - Matter restored back for fresh consideration - HC
October 23, 2023 Case Laws Income Tax

Disallowance of interest u/s. 36(1)(iii) - AO observed that, interest-bearing funds had been diverted/utilized by the assessee for making gifts to his nephews - it can......
October 23, 2023 Case Laws Income Tax

Unexplained cash credit u/s. 68 - Source of cash deposited during demonetization period - A.O. is not able to find any defect in the books of accounts, except general......
October 23, 2023 Case Laws Income Tax

Additions towards loss on transactions of Future/option through National Stock Exchange - While filing the return, we note that the assessee has not claimed this loss......
October 23, 2023 Case Laws Income Tax

Disallowance u/s 40(a) - tds u/s 195 - fee for technical services - No information in the nature of technical, management or consultancy services had been provided by......
October 23, 2023 Case Laws Income Tax

Beneficial provisions of the India-Mauritius DTAA in respect of STCG - carry forward the LTCL as per section 74 of the Act - Gains / losses arising from different......
October 23, 2023 Case Laws Income Tax

Amounts received under the Focus Market Scheme - capital OR revenue receipt - The subsidy received from Government of India under the Focus Market Scheme is Revenue in......
October 23, 2023 Case Laws Income Tax

Revision u/s 263 - Cash deposits in the form of old currency notes in bank account on a single day during demonetization period - Since the AO has not examined the......
October 23, 2023 Case Laws Customs

Claim of duty drawback - Denial of permission for conversion/ amendment of 13 free shipping bills filed by the filed by the appellant without claiming AIR drawback - The....
October 23, 2023 Case Laws Customs

Classification of imported goods - badge reader - data collection device versus data processing machine - the device captures the data from the employee’s card or the......
October 23, 2023 Case Laws Customs

Smuggling - foreign origin Gold - The gold seized were of 99.5 purity. There was no foreign marking available on the gold. In fact, they were in the shape of ornaments......
October 23, 2023 Case Laws Customs

Classification of imported goods - Joss Powder - There are no reason for the Department to suddenly change the classification from CET 44013000 to CET 12119029 when......
October 23, 2023 Case Laws Customs

Classification of exported goods - It is well known that classification depends on various factors including description, and not description per se. Assuming that the......
October 23, 2023 Case Laws Companies Law

Failure to get its cost accounting records to be audited by a Cost Auditor - Since complaint was filed on 30.05.2017, complaint is well within time. The date of filing......
October 23, 2023 Case Laws Insolvency and Bankruptcy

Challenge to resolution plan as approved by the CoC - Merely because there is a reduction in the claim of any creditor does not make the resolution plan fall foul of law....
October 23, 2023 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Rejection of Section 7 application - status of the decree-holder - Real Estate Allottee or not - NCLT held that, being a single allotment, does not.....
October 23, 2023 Case Laws Service Tax

Export of services or not - It is evident that the services rendered by the respondents are used by the overseas company who are benefitted by the same. It cannot be......
October 23, 2023 Case Laws Service Tax

Nature of Activity - Payment of 'Address Commission' against 'Chartering of Ships' - Business Auxiliary Service (BAS) or not - When there is no evidence to substantiate.....
October 23, 2023 Case Laws Service Tax

Nature of services - Professional services or existence of employee / employer relationship - The letters of appointment and the termination letter produced before us......
October 23, 2023 Case Laws Indian Laws

Professional misconduct - Chartered Accountant (CA) - Disciplinary proceedings kept pending for 27 years - The complaint against respondent was lodged in 1996 primarily.....
October 21, 2023 Case Laws GST

Demand of tax alongwith penalty - part B of the e-way bill accompanying with the goods, was not filled - The petitioner has not submitted any explanation up to the stage....
October 21, 2023 Case Laws GST

Classification of goods - Aluminium Foil Container / Aluminium Foil in Roll Form and Plastic Articles - the product Aluminium Foil Container is classifiable under 7615......
October 21, 2023 Case Laws Income Tax

Addition u/s 69A - Unexplained Cash - household expenses - It is pertinent to mention that in the cash flow the assessee has also shown household expenses for her......
October 21, 2023 Case Laws Income Tax

Penalty u/s 270A - “under reporting” of the income - The assessee has not under reported any income. The addition has arisen on account of change in head of income. We......
October 21, 2023 Case Laws Income Tax

Income deemed to accrue or arise in India - existence or otherwise of a Permanent Establishment (PE) in India - In fact, even at the stage of Tribunal, no contrary......
October 21, 2023 Case Laws Customs

allocation of quota for export of broken rice on humanitarian food security grounds - In the present case, the export of rice from this country does not entail......
October 21, 2023 Case Laws Customs

Classification of export goods - Upgraded Beneficiated IImenite - The product “Upgraded Beneficiated Ilmenite” will fall under 28230090 under the Customs of Tariff Act......
October 21, 2023 Case Laws Customs

Classification of imported goods - Rate of IGST (CVD) - Nutritional Supplements, which are preparations of substances such as Creatine, Nitrates, Glutamine and Amino......
October 21, 2023 Case Laws Income Tax

Most Favoured Nation (MFN) - rate of taxation at source on dividends, interest, royalties or fees for technical services (hereafter ‘FTS’) - bilateral treaties in......
October 21, 2023 Case Laws Income Tax

Claim of the TDS and IGST payments rejected - additions u/s 143(1)(a) for the reason that the same has been shown in column no. 26B(b) for Form 3CD of the audit report -....
October 21, 2023 Case Laws Customs

Valuation - inclusion of ship demurrage charges - it is settled that the demurrage charges cannot be included in the transaction value of imported goods. - AT
October 21, 2023 Case Laws Companies Law

Scope of an asset and security freeze order - assignment or not - The reference to pledge, in some places in the documents, did not undermine the fact that the rents......
October 21, 2023 Case Laws Insolvency and Bankruptcy

CIRP - Home Buyers - Financial Creditors or not - scope of Financial Debt - The appellants are declared as financial creditors within the meaning of Section 5(8)(f)......
October 21, 2023 Case Laws Central Excise

CENVAT Credit on rejected inputs - suo moto credit - the processes carried by the appellant in their premises result into manufacture and accordingly, CENVAT Credit......
October 21, 2023 Case Laws Central Excise

CENVAT Credit - Denial of credit on the ground that supplier has paid Duty on exempt product - it is settled that even if Excise duty is not payable on the product for......
October 21, 2023 Case Laws VAT and Sales Tax

Determination of period for Grant of incentives of exemption from Tax - Had the State intended to confine the benefit granted to New Information Technology Industrial......
October 21, 2023 Case Laws Indian Laws

Validity of Arbitral Award - In the remand back case, the Arbitrator was warned not to be influenced by the factors that weighed in his mind while making the First Award....
October 21, 2023 Case Laws Indian Laws

Dishonour of Cheque - whether the amount due and payable on the part of petitioners towards the complainants, even as per the case of complainants, was less than the......
October 20, 2023 Case Laws GST

Wrong availment of input tax credit - In the case in hand, the petitioner has only brought on record the tax invoices, e-way bills, GR and payment through banking......

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