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Highlights / Annotations / Catch Notes For November of 2023

Home Highlights November November 2023 Year 2023

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Showing 1 to 50 of 501 Records

12 3 4 5........ 11

November 30, 2023 Notifications DGFT

Export of specified food commodities permitted through National Cooperative Exports Limited (NCEL) - Notification
November 30, 2023 Notifications Customs

Exemption of deposits from the provisions of Section 51 of Customs Act, 1962 - Now the scheme to be implemented w.e.f. 20-1-2024 instead of 1-12-2023 - Notification
November 30, 2023 Case Laws GST

Validity of SCN - If the contents of impugned show cause notice are lacking in material particulars or are vague in regard to any of the entries contained therein then......
November 30, 2023 Case Laws GST

Exemption from GST - hostel accommodation - The hostel accommodation is not equivalent to residential accommodation and hence the services supplied by the Applicant......
November 30, 2023 Case Laws Income Tax

Nature of loss - commercial expediency - provisions of diminution of Government of India Fertilizer Bonds [GoI Bonds] - the loss incurred due to the diminution in the......
November 30, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 against dead person - obligation on the part of the legal representatives - in the absence of a statutory provision it is difficult to......
November 30, 2023 Case Laws Income Tax

Allowability of Interest expenses @21.3% - unsecured redeemable cumulative non-convertible debentures - AO has compared the rate of interest paid on unsecured redeemable....
November 30, 2023 Case Laws Income Tax

TP Adjustment - Allocation of Common Cost - we agree with the TPO’s calculation of allocation based on the direct cost as it is the best suitable basis for allocation of....
November 30, 2023 Case Laws Income Tax

Foreign tax credits u/s 90/90A - Rule 128 is a procedural provision and not a mandatory provision - Rule 128 nowhere provides that if the said Form 67 is not filed......
November 30, 2023 Case Laws Income Tax

Estimating the profit @ 25 % based on the facts that the purchase is tainted - Costlier jewellery items where the profit margins are very thin - the profit in this......
November 30, 2023 Case Laws Income Tax

TP Adjustments - AO does not have the jurisdiction to propose any transfer pricing adjustment in case where he has not made any reference to the TPO. Therefore the......
November 30, 2023 Case Laws Income Tax

Nature of loss - Business loss or Speculation loss - transactions in purchase and sale of shares settled otherwise than the actual delivery - the said loss is computed......
November 30, 2023 Case Laws Income Tax

Royalty / Fees for technical services (FTS) - Receipts for use of telecom bandwidth facility - India-Singapore DTAA - the receipts from internet bandwidth charges cannot....
November 30, 2023 Case Laws Income Tax

TP Adjustment - ALP of International Transactions of import of fixed assets - Even though the Ld. TPO had mentioned that he is following CUP method as the most......
November 30, 2023 Case Laws Income Tax

TDS u/s 194H - Payment Gateway Charges - the parties are service providers who collect fees from participants and they collect gateway payment commission from the......
November 30, 2023 Case Laws Income Tax

Nature of expenses - Allowability of Penal Interest paid to NOIDA - CIT(A) correctly allowed the assessee to capitalize the interest paid by the assessee to Noida......
November 30, 2023 Case Laws Customs

Exemption from Levy of Customs Duty - goods removed from SEZ to DTA (initially procured from DTA) - Re-import of goods - The matter needs to be remanded on the......
November 30, 2023 Case Laws Customs

Confiscation of imported goods - evasion of Customs Duty - MRP of the goods assumed to be mis-declared by the importer - the bona fides of the appellant cannot be......
November 30, 2023 Case Laws Customs

Failure to implement the order of the tribunal - Re-export of goods - As the Commissioner has acted in flagrant falling the authority of this Tribunal the matter needs......
November 30, 2023 Case Laws Companies Law

Professional Misconduct - Failure to report non-consolidation of subsidiary - Failure to prepare audit documentation - Failure to report issues related to disclosure of.....
November 30, 2023 Case Laws Indian Laws

Refund of stamp duty - Stamp papers purchased for registration of immovable property but the same could not be executed - The denial of refund of the stamp duty......
November 29, 2023 Case Laws GST

Correctness of proceedings u/s 74 of the GST Act - The petitioner failed to discharge its onus to prove and establish beyond doubt the actual transaction, actual......
November 29, 2023 Case Laws GST

Rejection of bail - fake entities created to pass on and avail Input Tax Credit under the GST regimen (ITC) to defraud government exchequer - The ocular evidence will be....
November 29, 2023 Case Laws GST

Input Tax Credit (ITC) - Failure of the supplier to deposit the Tax / GST amount - constitutional validity of provisions of Section 16(2)(c) of the CGST Act - The......
November 29, 2023 Case Laws Income Tax

Addition u/s 68 - Having Two PAN and using differnt names - Validity of claim of the Assessee that he is running Hotel Management Business - Assessee neither before the.....
November 29, 2023 Case Laws Income Tax

Validity of assessment u/s. 143(3) by change in incumbent but without issuance of order u/s. 127 - Violation of mandatory procedural provision - Assumption of......
November 29, 2023 Case Laws Income Tax

Permanent Establishment in India - advertisement revenue - India-Mauritius DTAA - foreign company / Non-resident - Taj India cannot be held to be a DAPE of the assessee.....
November 29, 2023 Case Laws Income Tax

Applicability of provisions of section 115JB of the Act to the assessee bank - 'Banking Company' or 'Corresponding new bank '- corresponding new bank - We noticed......
November 29, 2023 Case Laws Income Tax

TP Adjustment - Disallowance of claim of proportionate premium paid arising on account of repayment of optionally convertible debentures - the commercial arrangement......
November 29, 2023 Case Laws Income Tax

Assessment u/s 153A - undisclosed investments - the DVO's report on standalone basis without any corroborating material cannot be construed as incriminating material and....
November 29, 2023 Case Laws Income Tax

Undisclosed commission income - To be taxed as accommodation entry or only commission income on such transactions - The assessee cannot blow hot and cold at the same......
November 29, 2023 Case Laws Income Tax

Estimation of income on deficit gold jewellery - in search proceedings AO noted shortage of stock of gold ornaments - It is quite natural to give telescopic benefit to......
November 29, 2023 Case Laws Income Tax

Exemption u/s 11 and 12 - Charitable Activity u/s 2(15) - urban development concern - the assessee is eligible for exemption u/s 2(15) of the Act related to its activities. - AT
November 29, 2023 Case Laws Income Tax

Penalty u/s 271B - not getting the books of account audited u/s 44AB - AO levied penalty on the assessee as the cash deposit during the F.Y. 2016-17 exceeded the......
November 29, 2023 Case Laws Income Tax

Condonation of delay filing appeal in ITAT - delay of 1326 days - In view of the decision of the supreme court, if some valid reason is there, then any period can be......
November 29, 2023 Case Laws Customs

Conversion of Free Shipping Bills to Drawback Shipping Bills - The Tribunal while passing the Final order has already taken into consideration the Board’s circular as......
November 29, 2023 Case Laws Customs

Levy of anti-dumping duty - domestic industry suffered material injury or not - Import of Mono Ethylene Glycol [MEG] - The designated authority has exclusively relied......
November 29, 2023 Case Laws Service Tax

Recovery of confirmed demand - Freezing the bank account of the petitioner - petitioner neither filed an appeal nor paid the tax and penalty - Considering the fact that.....
November 29, 2023 Case Laws Service Tax

Default in payment of service tax - Prosecution proceedings against the director of the company - offence punishable u/s 89 of Finance Act, 1994 r.w.s. 9 and 9AA of......
November 29, 2023 Case Laws VAT and Sales Tax

Adjustment of GST amount deposited by the petitioner in the financial year 2018- 19 with VAT liability - High Court allowed the adjustment - SLP against the decision of.....
November 29, 2023 Case Laws VAT and Sales Tax

Valuation - works Contract - Reduction in turnover as per Rule 9 of the Value Added Tax Rules - The general rule of law in taxing statutes is that in case of any doubt......
November 29, 2023 Case Laws Indian Laws

Dishonour of Cheque - Vicarious liability of director - The cheque is for the discharge of the loan advanced to the company for its business purpose. The petitioner had.....
November 29, 2023 Case Laws Indian Laws

Dishonour of Cheque - onus to rebut the presumption - the discrepancy in the amount dues to be realized from the respondent accused - no fault can be found in the......
November 29, 2023 Case Laws Indian Laws

Dishonour of Cheque - lack of territorial jurisdiction to try the case - The petitioners on receipt of the summons from the Court had participated in the trial cross......
November 28, 2023 Case Laws GST

Refund of accumulated Input Tax Credit (ITC) - Turnover of Zero-rated supplies - mistake in submission of documents through common portal while filing applications in......
November 28, 2023 Case Laws GST

Refund of unutilized Input Tax Credit (ITC) - zero-rated supply - Clubbing of invoices - The clubbing or taking into account of this particular bill was without......
November 28, 2023 Case Laws Income Tax

Compounding of offences - period of limitation - Validity of period of 12 months from the date of launching of prosecution - the CBDT is not empowered to fix the time......
November 28, 2023 Case Laws Income Tax

Validity of Reopening of assessment - not charging interest @ 12% on the loans advances - Only because the assessee company did not charge the advance made to the other.....
November 28, 2023 Case Laws Income Tax

Exemption u/s 11 - charging of guarantee fees for services by the assessee trust - the impugned findings returned by the Ld. CIT(A) that “since the assessee is charging.....
November 28, 2023 Case Laws Income Tax

Appealable Orders before the Appellate Tribunal - As an order passed by a Commissioner u/s 119(2)(b) of the Act does not find any mention in the list of orders that are.....

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Latest Circulars

C: Implementation of automation in the Customs (Import of Goods at Conces...

C: Clarifications on the applicability of concessional duty under IGCR Ru...

N: Specifying Forms prescribed in Appendix-II of the Income Tax Rules 196...

N: Securities and Exchange Board of India (Bankers to an Issue) (Amendmen...

N: Securities and Exchange Board of India (Buy-Back of Securities) (Secon...

H: Excess Input Tax Credit penalty appeal dismissed due to delay; court a...

H: Chit Funds Commission Not Subject to GST: High Court Quashes Notice.

H: Taxability of Additional Surcharge by Electricity Distribution Company...

H: Transport agency's bundled services disqualify it from GST exemption f...

H: Compensation for surrendering intellectual property rights treated as ...

H: Cooperative society eligible for tax deduction on interest from cooper...

H: Taxman overreached by turning limited scrutiny into wide-ranging probe...

H: TDS credit limited to income in return, excess related to past years' ...

H: Genuine anonymous donations not taxable. Grants not income if utilized...

H: Property investment source verification not valid grounds for reopenin...

H: Income Tax Assessment Notice Issued by Non-Jurisdictional Officer Quas...

H: Foreign tech firm wins case: No permanent establishment or royalty tax...

H: Simplified taxation for non-resident shipping biz: 7.5% presumptive in...

H: Freight charges paid to foreign shipping co. not taxable royalty or ch...

H: Software License & ICT Service Fees Taxability Re-examined - Royalty o...

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

F: assessment order

F: Transfer of ITC without filing ITC-02

N: Exemption from specified income U/s 10(46) of IT Act 1961 – ‘National ...

A: Electronic Liability Register

A: From Inception to Exit- A Complete Guide to LLP Registration, Closure,...

A: Appeal filed beyond condonable period after writ proceedings disposal ...

A: Common Mistakes to Avoid While Making Income Tax Payments

F: PRE-DEPSOIT ISSUES

F: Merger of two GSTIN in the same State - Procedure to be followed