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Highlights / Annotations / Catch Notes For November of 2020

Home Highlights November November 2020 Year 2020

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Showing 51 to 100 of 343 Records

123 4 5 6........ 7

November 26, 2020 Case Laws Income Tax

Reopening of assessment - legality of issuance of notice u/s. 148 - Merely on a study by Investigation Wing ,as in this case explaining the general modus operandi......
November 26, 2020 Case Laws Income Tax

TP Adjustment - goods sold to Associated Enterprises (AEs) - NP Determination - The TPO has not given any reason as to why he did not consider above said two expenses......
November 26, 2020 Case Laws Income Tax

Procedure prescribed u/s 144C - validity of draft assessment order where the AO did not attach the notice of demand - a document, which is held to be a legal nullity,......
November 26, 2020 Case Laws Income Tax

Short term capital gain arising on transfer of premises - appellant transferred the building premises used for business - the sale consideration can only be treated as......
November 26, 2020 Case Laws Income Tax

Disallowing excess purchase price - Whether effect of such excess pricing had already been neutralized in the Profit & Loss A/c by way of enhancing the closing stock......
November 26, 2020 Case Laws Insolvency and Bankruptcy

Maintainability of application u/s 7 of IBC - Assignment of Debt - The Application under Section 7 of IBC filed is not confined to debt as arising in the arrangement due....
November 26, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - claim against Corporate Debtor second time on the same set of claims, initially made on principal borrower - The object of the Code is not to allow.....
November 26, 2020 Case Laws Service Tax

Works Contract Services - business of construction of buildings and civil structures for last several decades - The contention raised on behalf of the respondents that......
November 26, 2020 Case Laws Service Tax

Recovery of Refund of service tax already granted - service tax paid under a mistake of law? - The respondent-Revenue are restrained from recovering the amounts refunded....
November 25, 2020 Case Laws GST

Principle of natural justice - Failure to uploand the Show Cause Notice (SCN) and Order on the GSTN portal - Rule 142 of Central Goods and Services Tax Act, 2017 - The......
November 25, 2020 Case Laws GST

Refund of GST - Refund was rejected on the ground that there is no provision under GST Act and GST Rules for refund of excess payment of tax, if such payment is made......
November 25, 2020 Case Laws GST

Refund of Input Tax Credit - exports of goods outside India - zero rated supplies - The admitted position is that the Circular No.14/2018-Customs is neither......
November 25, 2020 Case Laws GST

Profiteering - purchase of flat - the Respondent has not reduced the basic price of his flats by 0.14% in case of the above Project due to additional benefit of ITC......
November 25, 2020 Case Laws Income Tax

Discount on issue of ESOP - The primary object of the aforesaid exercise is not to waste capital but to earn profits by securing consistent services of the employees and....
November 25, 2020 Case Laws Income Tax

Penalty levied u/s 271(1) (c) - Defective notice - When the AO has not applied his mind at the time of initiation of penalty proceedings by satisfying himself if it is a....
November 25, 2020 Case Laws Income Tax

Unaccounted investment and unaccounted profit out of unaccounted production - The issue of rejection of books of account based on difference in power consumption of the.....
November 25, 2020 Case Laws Income Tax

Scope of limited scrutiny - cash deposits in the Bank accounts being more than the turnover - The impugned addition made by the AO on account of profit allegedly earned.....
November 25, 2020 Case Laws Income Tax

Disallowance u/s 36(1)(iii) - claim of interest expenditure - The companies GIL and CNIL are subsidiary companies, which clearly indicates that the investment made by......
November 25, 2020 Case Laws Income Tax

Disallowance u/s 14A read with Rule 8D - In any case, as per section 14A(3) whether or not the assessee has incurred any expenditure for earning exempt income, a part of....
November 25, 2020 Case Laws Customs

Principles of natural justice - rejection of cross-examination - The petitioner has approached this Court prematurely as the respondents have only rejected the request......
November 25, 2020 Case Laws Customs

Levy of penalty u/s Section 112(a) - The Respondent never came in touch with the gold at all, as it was seized before he came into the conspiracy, and therefore there......
November 25, 2020 Case Laws Companies Law

Conversion of partly up equity shares into fully paid-up equity shares - the board of directors are well within the powers to make a call on the shareholders in respect.....
November 25, 2020 Case Laws Service Tax

Non-payment of service tax - Extended period of limitation - Demand for the period from 1.3.2006 to 15.5.2008 - the department was very much aware of the activities of......
November 24, 2020 Case Laws GST

Carry forward of transitional credit - vires of Rule 117 of the CGST Rules, 2017 - no evidence of error of submission/filing of TRAN-1 by the petitioner - There is......
November 24, 2020 Case Laws GST

Demand/Recovery of GST - Failure to issue Show Cause Notice before passing summary of order in the prescribed manner - Revenue conceded that the SCN/order was......
November 24, 2020 Case Laws GST

Grant of Bail - creation of bogus firm - GST Evasion - The investigation is still pending and, there, has been material recovered reflecting connivance/participation of.....
November 24, 2020 Case Laws Income Tax

Long Term Capital gain computation - interest capitalized to cost of asset - It is not in dispute that the property was acquired by a borrowed capital initially borrowed....
November 24, 2020 Case Laws Income Tax

Addition on the basis of Annual Information Return (AIR) - When the assessee claims that he has not entered into any transaction with the concerned parties, the least......
November 24, 2020 Case Laws Income Tax

Reopening of assessment u/s 147 - assessment after 4 years - reason to suspect OR reason to believe - Reopening of assessment which is already concluded under Section......
November 24, 2020 Case Laws Income Tax

Disallowance of directors remuneration u/s 40A(2)(a) - A.O by misconstruing the scope and gamut of Sec. 40A(2)(a) had disallowed the entire amount of the directors......
November 24, 2020 Case Laws Income Tax

Income accrued in India - Benefit of India-UK Tax Treaty - Whether the assessee has PE in India and the receipts are liable to be taxed as ‘Business Profits’? - if the......
November 24, 2020 Case Laws Income Tax

Disallowance of goods lost due to fire - addition invoking section 29 - Moment the insurance Co determines the loss in terms of the insurance policy obtained by the......
November 24, 2020 Case Laws Income Tax

Disallowance being the amount of exchange fluctuation loss provided at the year end on business advance received in foreign exchange - the exchange fluctuation loss......
November 24, 2020 Case Laws Income Tax

Defect in appeal - The very object of mentioning the date of receipt of the assessment order is to compute the period of limitation. In this case, admittedly, the appeal....
November 24, 2020 Case Laws Customs

Deadlocks/inordinate delays for clearance of import cargo. due to COVID-19 pandemic lockdown - the Learned Single Judge ordered that the payment of container detention......
November 24, 2020 Case Laws Insolvency and Bankruptcy

Entertainment of claims made by creditors after approval of Resolution Plan - A stakeholder cannot afford to sleep over his claims and fail to submit it on time and come....
November 24, 2020 Case Laws Central Excise

Interest on refund claim - interest denied on the finding that the adjudication of the claim attained finality only after dismissal of the proceedings before the High......
November 24, 2020 Case Laws Central Excise

CENVAT Credit - fake invoices without supply of goods - The appellants had provided the Railway Receipts (RR’s) under cover of which the inputs had come. The disputed......
November 24, 2020 Case Laws Central Excise

Refund claim - Period of limitation - The time-limit has to be computed from the date of clearance of the goods to the date of first presentation of the claim. The......
November 23, 2020 Case Laws GST

Exigibility of GST - supply of goods or not - sale of applicant’s share (40%) of residential flats - revenue sharing basis - the amounts received by the applicant,......
November 23, 2020 Case Laws GST

Validity of Summon Order - seeking permission to appear through video conferencing - The concept of balance of convenience cannot be tilted in favour of the Petitioner......
November 23, 2020 Case Laws GST

Principles of Natural Justice - validity of Garnishee Notice - As the Garnishee Notice came to be passed without hearing, the Writ Petition is allowed setting aside the.....
November 23, 2020 Case Laws GST

Imposition of penalty under Section 122 of CGST Act - Without waiting for statutory period stipulated under the Act, assessment Order came to be issued in Form GSTR......
November 23, 2020 Case Laws GST

Validity of SCN - Cancellation of GST registration - this Court does not think it fit to set aside the order of cancellation of registration at such a belated stage,......
November 23, 2020 Case Laws GST

Levy of interest - belated filing of GST returns - Section 50 of the CGST Act - ppropriate reasoned order may be passed affording opportunity to the petitioner, within a....
November 23, 2020 Case Laws Income Tax

Jurisdiction to frame the scrutiny assessment u/s 143(3) - Jurisdiction recognized by the Act are based on territory, residence, pecuniary, classes of assessee like......
November 23, 2020 Case Laws Income Tax

Deduction u/s.54F - Receipt of 10 flats in lieu of Joint development agreement (JDA) of land - assessee did not offer any long term capital gain (LTCG) on entering into.....
November 23, 2020 Case Laws Income Tax

Addition u/s 68 - unexplained cash credit - The assessee had to discharge the primary onus in that regard. The peak credit worked out by the assessee, on the basis that.....
November 23, 2020 Case Laws Income Tax

Unexplained share capital - share premium and share application money - Ld.CIT(A) has noted as assessee has filed the confirmation letters, copies of ITRs, copies of......
November 23, 2020 Case Laws Customs

Reclaim of goods after surrender of rights in warehoused Goods (after import) u/s 23(3) - Due to increased customs duty, the plaintiffs could not take the delivery of......

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