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Highlights / Annotations / Catch Notes For December of 2020

Home Highlights December December 2020 Year 2020

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Showing 401 to 449 of 449 Records

1 ....5 6 7 89

December 4, 2020 Case Laws Service Tax

Refund of unutilized/accumulated Cenvat credit - refund rejected on the ground of input credit availed being prior to the date of registration - When the assessee claims....
December 4, 2020 Case Laws Income Tax

Exemption u/s 11 - denying the grant of registration u/s 12AA - There is no material brought on record by CIT (E) which suggests that genuineness of activities are in......
December 4, 2020 Case Laws Income Tax

Penalty u/s 272A(2)(k) - delay in submitting the quarterly TDS Statement in Form 26Q - Once the assessee has stated on the affidavit and given an undertaking that the......
December 4, 2020 Case Laws Income Tax

TP adjustment - Recharacterising the compulsorily convertible debentures (`CCDs') as equity shares - till the date of conversion, for allowability of interest u/s 36 (1)....
December 4, 2020 Case Laws Income Tax

Addition u/s. 56(2)(vii) - Applicability for properties which are under construction? - AO mechanically applied provisions of section 56(2) to bring he difference......
December 4, 2020 Case Laws Income Tax

Characterization of income - consideration received by the partner of a firm upon retirement from the firm - retirement benefit - any money received by the partner upon.....
December 4, 2020 Case Laws Income Tax

Power of CIT(A) in enhancing the addition - violating the law u/s 251(2) - enhancement of addition made u/s. 68 - the assessee had discharged its onus to prove the......
December 4, 2020 Case Laws Income Tax

Capital gain on transfer of development rights (TDR) - since the impugned capital asset transferred by the assessee upon which long term capital gain has been computed......
December 4, 2020 Case Laws Income Tax

Levy of penalty u/s. 271B - The infraction of Section 44AB gets attracted only when the assessee maintains the books of accounts but fail to get them audited - no reason....
December 3, 2020 Case Laws GST

Profiteering - Scope of the Investigation - supply of Monitors and TVs of screen size up to 32 inches - There is no provision in the above Act or the Rules which......
December 3, 2020 Case Laws Income Tax

TP Adjustment - Selection of MAM - Perusal of para 5 of the order giving alleged reasons by the learned Tribunal leaves more confusion than clarity. We are also......
December 3, 2020 Case Laws Income Tax

Rectification of mistake u/s 254 - Period of limitation would begin to run from the date the assessee got knowledge of the order or from the date of passing of the order....
December 3, 2020 Case Laws Income Tax

Validity of Assessment order - void ab-initio or not - assessment u/s.144 - despite many opportunities, the assessee did not respond to the AO. That even before making......
December 3, 2020 Case Laws Income Tax

Penalty u/s 271(1)(b) - non-compliance to statutory notices - The order was passed under s. 143(3) and not under s. 144 of the Act. This means that subsequent compliance....
December 3, 2020 Case Laws Income Tax

TDS u/s 195 - addition u/s 40(a)(i) - non-deduction of taxes from payment made to Facebook Ireland Limited - Section 40(a)(i) acts as a restriction on the deductibility.....
December 3, 2020 Case Laws Income Tax

Addition of short term capital gain - Non-adjustment of adavance received with the sale consideration of property - It is unbelievable that, the advance received was......
December 3, 2020 Case Laws Income Tax

Validity of reopening of assessment - non-registration of trust - registration certificate was in operation at the time the notices u/s 148 were issued - AO has not......
December 3, 2020 Case Laws Income Tax

Income accrued in India - Royalty receipt - Fees for Technical Services on accrual basis - the FTS is taxable only in the year of receipt as per the provisions of DTAA......
December 3, 2020 Case Laws Income Tax

Disallowance of proportionate bank interest and drawings made by the Managing Partner of the firm - Interest payment attributable to interest paid on funds diverted for.....
December 3, 2020 Case Laws Income Tax

Disallowance of brokerage on borrowed loan in the hands of partner - There is no dispute that the borrowings made by the assessee were utilised for the purpose of......
December 3, 2020 Case Laws Companies Law

Activation of Director Identification Number - apart from the fact that the AQD Rules do not empower the ROC to deactivate the DIN, we find that such deactivation would.....
December 3, 2020 Case Laws Service Tax

Principles of Natural Justice - The Assessee, fully being aware that the Constitutional Courts may not find easy time to dispose of such matters quickly, the proceedings....
December 3, 2020 Case Laws VAT and Sales Tax

Validity of assessment order - Since, the levy of tax under the Act on the sale of goods during the course of import was an error apparent on the face of the record, the....
December 3, 2020 Case Laws Insolvency and Bankruptcy

Maintainability of application - initiation of CIRP - As such invocation of res judicata seems only an ignorance of the provisions of law. Insolvency proceedings can be.....
December 2, 2020 Case Laws GST

Validity of assessment order - Best Judgement Assessment - taking note of the non-filing of returns by the assessee, proceedings under Section 74 were initiated and......
December 2, 2020 Case Laws GST

Grant of Bail - illegal input tax credit - The investigation is still pending and same is at initial stage. In this circumstances, this Court is of the opinion that......
December 2, 2020 Case Laws Income Tax

Scope of enquiry by the CIT(A) - it was a clear case of exercise of overriding power by ld. CIT(A) in terms of Rule 46A(4) and it was not a case where the assessee on......
December 2, 2020 Case Laws Income Tax

Assessment u/s 153C - in proceedings under Section 153C of the Act, in the absence of any incriminating documents or evidence discovered during the course of search......
December 2, 2020 Case Laws Income Tax

Whether the Tribunal was justified in dismissing the proceedings in limine - Substantial question is answered by holding that in view of language used in Rule 24, the......
December 2, 2020 Case Laws Income Tax

Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating......
December 2, 2020 Case Laws Income Tax

Addition u/s 68 - availability of source and application of fund - Cash in hand - AO ought to have made cash flow statement with opening cash balance, deposit and......
December 2, 2020 Case Laws Income Tax

Revision u/s 263 - as per CIT-A interest on SBI constitute other income which was not properly verified by the AO - The present revision is on difference of opinion......
December 2, 2020 Case Laws Income Tax

Penalty imposed u/s 271D and 271E - the availing and re–payment of loan through book entries was prior to 12th June 2012. Therefore non–compliance to the provisions of......
December 2, 2020 Case Laws Income Tax

Undisclosed bank deposits - The withdrawal of the amount from the bank can be considered as a source for re-depositing if the assessee can fully satisfy the AO that the.....
December 2, 2020 Case Laws Customs

Adjustment / Appropriation of sale proceeds from sale of stored goods in auction sale - Priority of claim - Any claim other than customs duty, which comes under......
December 2, 2020 Case Laws SEBI

Power of SEBI to pass an ex parte interim order - Tribunal was on the facts of the case correct in setting aside the ex-parte order of the Whole Time Member on the......
December 2, 2020 Case Laws Insolvency and Bankruptcy

Stay of liquidation application - the legislature has consciously not provided any ground to challenge the "commercial wisdom" of the individual financial creditor or......
December 2, 2020 Case Laws Service Tax

Rejection of application under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - amount in arrears (SVLDRS) - rejection of the declaration of the petitioner dated....
December 2, 2020 Case Laws Central Excise

Extended period of limitation - Suppression of facts or not - The allegation of suppressing the facts from the department does not hold good in the event of periodic......
December 2, 2020 Case Laws SEBI

Expulsion against the appellant, from the membership of the National Stock Exchange of India Limited - Schedule II of the SEBI (Stock Brokers and Sub Brokers)......
December 1, 2020 Case Laws Income Tax

Addition u/s 68 v/s 69 - bank statement or bank passbook cannot be considered to be the books of accounts maintained by the assessee. - As per section 68 of the Act,......
December 1, 2020 Case Laws Income Tax

Unaccounted cash receipts - on money for the additional work executed - All these facts and circumstances support that only profit required to be brought to tax but not.....
December 1, 2020 Case Laws Income Tax

Revision u/s 263 - As per CIT taxing the income @30% on the additional income representing the unexplained investment in stock required to be brought to tax u/s 115BBE......
December 1, 2020 Case Laws Income Tax

Remuneration paid to the Managing Director - Limited scrutiny assessment - AO did not make any discussion on the deductibility or otherwise of losses and examined the......
December 1, 2020 Case Laws Income Tax

Penalty u/s 271(1)(c) - excessive retainership expenses and not supported by the evidences and difference in the income as per TDS claimed in return of income and 26AS -....
December 1, 2020 Case Laws Customs

Smuggling - detention of the petitioner - COFEPOSA Act - delay of 14 months in passing the detention order - the live link remains always active and the respondents have....
December 1, 2020 Case Laws Companies Law

Tribunal - it is crucial that these tribunals are run by a robust mix of experts, i.e. those with experience in policy in the relevant field, and those with judicial or.....
December 1, 2020 Case Laws SEBI

Forward trade in commodities - Trading Irregularities - Piercing of corporate veil - Issuing show cause notice to the second respondent and not to the first respondent -....
December 1, 2020 Case Laws Income Tax

Addition of unexplained income - earnest/advance money under agreement to sell - The copy of the bank statements have been duly provided to the revenue authorities. The.....

1 ....5 6 7 89

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