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Highlights / Annotations / Catch Notes For October of 2023

Home Highlights October October 2023 Year 2023

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Showing 201 to 250 of 502 Records

1 2 3 456 7 8 9........ 11

October 18, 2023 Case Laws Income Tax

Nature of expenses - apportioning the licence fee as partly revenue and partly capital - variable licence fee paid by the assessees under the New Telecom Policy, 1999 -.....
October 18, 2023 Case Laws Income Tax

TP Adjustment - Period of limitation u/s 153(2A) - Scope of amendment w.e.f. 1.4.2016 - retrospective effect - Legislative intention - the proceedings drawn, admittedly.....
October 18, 2023 Case Laws Income Tax

TDS u/s 194H - amount retained by the agencies engaged in providing advertorials in the nature of commission or not - relationship between the media company and the......
October 18, 2023 Case Laws Income Tax

Amount payable towards the provident fund and towards the ESI fell due on a National Holiday - Deduction u/s 36(1)(5)(A) - Section 10 of the General Clauses Act would......
October 18, 2023 Case Laws Income Tax

Claim of fictitious loss which reduced the profit - derivative trading - It is found by the authorities that the script wise details of the derivative trading that the......
October 18, 2023 Case Laws Income Tax

Allowable business expenditure - Lapse of GST input credit - Disallowance u/s 43B - The said GST Credit lapse is not a provision made by the assessee bank. If said......
October 18, 2023 Case Laws Income Tax

Revision u/s 263 - AO has not committed any error in not chasing ‘will of the wisp’ in the absence of any brazen circumstances available. In the light of aforesaid......
October 18, 2023 Case Laws Income Tax

Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same......
October 18, 2023 Case Laws Income Tax

Fees for technical services - Clearly, the source of income namely the assessee’s customers were the foreign based clients of L&T and the services were also to be......
October 18, 2023 Case Laws Income Tax

Unexplained money u/s 69A - Unaccounted cash found in course of search and seizure - The claim of assessee that the statement of partners are neither voluntary nor......
October 18, 2023 Case Laws Income Tax

Unexplained money u/s 69A - cash deposit in the Saving Bank Account - Since the assessee has not disclosed this bank account in the return of income, therefore, deposit.....
October 18, 2023 Case Laws Income Tax

Income taxable in India - royalty receipts - Distribution of Financial Products - assessee had granted rights to distribute its various financial and related products in....
October 18, 2023 Case Laws Customs

Proof of smuggling of goods - DW.1 (revenue officer) stated in evidence that it was suspected that articles were smuggled and that it was believed that the articles were....
October 18, 2023 Case Laws Customs

Extension of period of seizure - The second extension of two months expired on 11 July 2023. As noted, if the extended period of six months under the proviso to......
October 18, 2023 Case Laws Customs

Valuation of imported goods - branded goods or not - There is no evidence available on record to reject the transaction value declared by them and hence the differential....
October 18, 2023 Case Laws Customs

Advance Authorization Scheme - Non-fulfilment of Export obligation - The appellants have fulfilled the conditions of export obligation after the expiry of the export......
October 18, 2023 Case Laws Customs

Extended period of limitation - Suppression/ mis-representation or not - A finding on inapplicability of confiscation did not necessarily extend to ‘suppression/......
October 18, 2023 Case Laws Customs

Levy of penalty on Custodian - providing Inland transportation of containers - CONCOR - As per section 45, the custodian is burdened with the responsibility of safe......
October 18, 2023 Case Laws Customs

Valuation of imported goods - vessel converted from ‘foreign run’ to ‘coastal run’ for carriage of coastal cargo - When IOCL sells the goods the elements of freight and.....
October 18, 2023 Case Laws Customs

Smuggling - red Betel Nuts - Foreign origin goods - In the absence of any positive evidence to establish the foreign origin of the goods and their illegal smuggling into....
October 18, 2023 Case Laws Service Tax

Exemption from Service tax - interpretation of “or” as “and” - governmental authority - educational institutions - Indian Institute of Technology, Patna (IIT Patna) -......
October 18, 2023 Case Laws Customs

Levy of penalty u/s 112 (a) of the Customs Act 1962 - Customs House Agent (CHA) - violation of Regulation 13 of CHALR 2004 - It is alleged that the appellant did not......
October 18, 2023 Case Laws Insolvency and Bankruptcy

Approval of Resolution Plan - Whether the CoC is empowered to decide the distribution methodology? - Keeping in view the catena of Judgments of the Hon’ble Apex Court......
October 18, 2023 Case Laws Insolvency and Bankruptcy

Invocation of Bank Guarantee allowing the Application of the Resolution Professional - Performance Bank Guarantee or not - as per the facts of this case, the Bank......
October 18, 2023 Case Laws Service Tax

Doctrine of mutuality - Club or association service - since there is a doctrine of mutuality between the appellant’s corporative society and its members, it cannot be......
October 18, 2023 Case Laws Central Excise

Refund of excise duty paid erroneously - When the appellant realized that he has paid excess duty thereafter he filed the refund application under Section 11B of the......
October 18, 2023 Case Laws Indian Laws

Dishonour of Cheque - validity of issue of notice by the new company after amalgamation - After the amalgamation, all the loans availed by various borrowers including......
October 18, 2023 Case Laws Indian Laws

Disciplinary proceedings against the Chartered Accountant (CA) - The person who is adversely affected wants to know as to why his submissions have not been accepted - An....
October 18, 2023 Case Laws Income Tax

Assessment u/s 153A pursuant to search proceedings - making a new claim which is not a consequence of the search action in case of unabated assessment - both the......
October 17, 2023 Case Laws GST

Refund of excess amount paid by mistake - time limitation - relevant date - removal of defects - keeping in view the fact that the petitioner has filed the refund......
October 17, 2023 Case Laws Income Tax

Disallowance of salary u/s 40A(2)(b) - Payment of salary and interest to specified (related) persons - The provision u/s 40A(2)(a) clearly shows that before recording......
October 17, 2023 Case Laws Income Tax

Compounding of offence(s) - determination of compounding fee - first occasion - 5% or 3% of the amount of tax in default - Since a common application had been filed for.....
October 17, 2023 Case Laws Income Tax

Territorial Jurisdiction of Madras High Court against TP Adjustment - AO at Hyderabad have issued the order - this tax case appeal cannot be maintainable within the High....
October 17, 2023 Case Laws Income Tax

Rectification u/s 154 - The ld. AR invited our attention in ITR 7 where it is mentioned that the correct figures in claim of section 11(1)(2) of the Act. The assessee......
October 17, 2023 Case Laws Income Tax

Source of cash deposit during demonetization period - AO has not refuted or discredited these evidences and documents. AO does not mention why he is not accepting these.....
October 17, 2023 Case Laws Income Tax

Penalty u/s. 271D and u/s. 271E - taking and paying loan in Cash - the innocence pleaded on account of ignorance of law of Directors who are claimed to be non-resident......
October 17, 2023 Case Laws Income Tax

Cash found during search from the residential premises of the appellant - Estimation of expenses is also without any basis. Hence the argument put forth by the CIT(A)......
October 17, 2023 Case Laws Income Tax

Addition u/s 68 - unexplained share capital received by the assessee - Even if the directors of the subscriber companies have not come personally in response to the......
October 17, 2023 Case Laws Income Tax

Revision u/s 263 by CIT - It is the duty of the AO to ascertain the truth of the facts stated / submitted by the assessee especially when the circumstances of the case......
October 17, 2023 Case Laws Income Tax

Revision u/s 263 on Insurance business - in the original assessment the Assessing Officer has clearly segregated the Shareholders Account and Policyholders Account and......
October 17, 2023 Case Laws Income Tax

Deduction u/s 80IC - new industrial undertaking nor not - It is a fact on record that 1st export dispatch has taken on 05.05.2009. The old machinery has not been used as....
October 17, 2023 Case Laws Income Tax

Determination of income - Commission income or trading activity - addition to the returned income by taking 8% net profit on turnover - in case the assessee would have......
October 17, 2023 Case Laws SEBI

Violation of Buyback Regulations and PFUTP Regulations 3 and 4 of the SEBI - There is nothing on record to indicate that the Company instructed the intermediaries to......
October 17, 2023 Case Laws VAT and Sales Tax

Payment of tax at compounded rates - Levy of VAT / Tax on immovable property or works contract - The imposition of tax on the whole contract value, the State cannot be......
October 17, 2023 Case Laws VAT and Sales Tax

Levy of penalty on the petitioner being double the amount of tax allegedly evaded by the petitioner - No doubt, in circumstances where the gross profit estimated by the.....
October 16, 2023 Case Laws Income Tax

Deduction u/s. 80JJA - Computation of profits - AO allowed the claim - CIT(A) reduced the claim of deduction - In the present appeal AO rightly deducted the depreciation....
October 16, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - Change of opinion - Once the assessee makes a true and full disclosure of the primary facts at the time of the original assessment and.....
October 16, 2023 Case Laws Income Tax

Addition u/s 69A r.w.s. 115BBE - unexplained gold jewellery of 1627.5 Grams - Stree dhan of women - quantity of gold jewellery in excess as allowed by the CBDT circular.....
October 16, 2023 Case Laws Income Tax

MAT computation u/s 115JB - addition of the amortization of Intangibles - The intangible assets are acquired and owned by the assessee company pursuant to the approved......
October 16, 2023 Case Laws Income Tax

TP Adjustment - Benefit accruing on account of ESOP plans we find merit in the contention advanced on behalf of the Appellant that for the purpose of granting the RSUs......

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