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Highlights / Annotations / Catch Notes For December of 2022

Home Highlights December December 2022 Year 2022

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Showing 251 to 300 of 587 Records

1 ....2 3 4 567 8 9 10........ 12

December 19, 2022 Case Laws Central Excise

Extended period of limitation - The Appellant is duly registered with the Department and there is no allegation in the impugned order of non-submission of any periodical....
December 17, 2022 Case Laws Income Tax

Reopening of assessment u/s 147 - Notice u/s 148-A - Reason to believe - Source of information is not relevant. What is relevant is the tangible material against the......
December 17, 2022 Case Laws Income Tax

MAT - Book Profit - Deemed income relating to certain companies u/s 115JA - addition of amount towards provision for doubtful advance to the book profit - The Tribunal......
December 17, 2022 Case Laws Income Tax

Corporate Social Responsibility (CSR) expenditure u/s 37 - Explanation 2 was inserted in Section 37 via Finance (No.2) Act, 2004 w.e.f. 01.04.2015. - the amendment would....
December 17, 2022 Case Laws Income Tax

Refund claim - time limit for processing a return under 149(1) - A.O. must come out with reasons, as to why the case of the Petitioner has not been processed,......
December 17, 2022 Case Laws Income Tax

Addition u/s 56(2) - method of valuation of shares - the valuation under DCF method is intrinsically based on the projections and based on the potential value of the......
December 17, 2022 Case Laws Income Tax

Revision u/s 263 by CIT - taxation being anonymous donation received in cash u/s 115BBC - According to the provisions of Section 115BBC, on anonymous donation tax is......
December 17, 2022 Case Laws Income Tax

Deduction of interest from rental income - loan was taken for the purpose of construction of house property - looking to the fact that the assessee took a housing loan......
December 17, 2022 Case Laws Income Tax

Revision u/s 263 by CIT - lack of enquiry - the matter relating to wages/labour expenses which was not subject matter of limited scrutiny cannot be raised in revisionary....
December 17, 2022 Case Laws Income Tax

Unexplained cash deposits in Bank account and undisclosed interest income - The Gift from wife was also explained by the assessee through bank statements. Regarding......
December 17, 2022 Case Laws Income Tax

Income deemed to accrue or arise in India - interest income - In these years, the interest income has accrued on the deposits kept by the assessees in HSBC bank, Geneva.....
December 17, 2022 Case Laws Income Tax

Exemption u/s 11 - rejection of application for registration u/s. 12AA - Charitable activity u/s 2(15) - the issue with regard to the activity of the assessee being not.....
December 17, 2022 Case Laws Income Tax

Disallowance towards ‘Project Development cost written off’ by the assessee - year of deductibility - As the assessee found the project to be lost and decided to write......
December 17, 2022 Case Laws Customs

Import of goods - infringement of the Intellectual Property Rights of the plaintiffs - eeking impleadment in the present suit as a proper party - Infringement of trade......
December 17, 2022 Case Laws Customs

Valuation - the grounds for rejection of transaction values in respect of some Bills of Entry were absent in the case. - The fact that DRI officers had obtained a......
December 17, 2022 Case Laws Insolvency and Bankruptcy

CIRP - Recovery of dues of central excise duty form Corporate debtor - Revenue has not filed the claim when it was invited by the RP - At this belated stage no fund is......
December 17, 2022 Case Laws Insolvency and Bankruptcy

Validity of approval of Resolution plan - home buyers - no opinion was obtained on feasibility and viability - when the CoC approved the Resolution Plan in its......
December 17, 2022 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Financial Creditors - allegation fraud against the Financial Creditor - Allegations of fraud and forgery are very easy to make but very difficult to....
December 17, 2022 Case Laws Insolvency and Bankruptcy

Approval of resolution plan with modification - Power of NCLT to modify the plan - Section 31 of the IBC - It is clear that mandate of legislation is either to approve......
December 17, 2022 Case Laws Service Tax

Refund of unutilized input tax credit - export of services - intermediary services or not - The impugned order has been passed in complete disregard of the judicial......
December 17, 2022 Case Laws Central Excise

Refund of un-utilized Cenvat Credit - The non transfer of unutilised cenvat credit is as good as reversal of cenvat. The charge of the double benefit will sustain only......
December 17, 2022 Case Laws Central Excise

Interest on the delayed refund of deposit - Mere mention of a wrong provision in the letter submitted by the appellant will not work to the prejudice of the appellant if....
December 17, 2022 Case Laws VAT and Sales Tax

Slump sale agreement - dues arising out of the operations and activities of the sugar unit prior to the date of acquisition - It is the UP State Sugar Corporation......
December 17, 2022 Case Laws VAT and Sales Tax

Levy of Entry tax - tractor trolly - ‘motor vehicle’ - the trolly cannot exist as a motor vehicle independent of the ‘tractor’ to which it is supposed to be attached. -.....
December 17, 2022 Case Laws VAT and Sales Tax

Stay of collection of disputed tax - Seeking deposit of 50% of the disputed tax by giving credit to the tax already deposited - it can be said that the initial......
December 16, 2022 Case Laws GST

Expiry of E-way Bill - detention of truck - break down of the truck - Circular No.10/2019,Q1/17253/2019' - In the instant case, from the narrative thus far, it comes......
December 16, 2022 Case Laws GST

Revocation of cancellation of GST registration - validity of assessment order - ex-parte order - Not only the order is nonspeaking, but cryptic in nature and the reason.....
December 16, 2022 Case Laws GST

Exparte assessment order u/s 73 - ex-parte demand order DRC 07 - order was passed even before the statutory notice period of 30 days as per section 73 (8) - Order......
December 16, 2022 Case Laws GST

Condonation of delay in filing appeal before appellate authority - Revocation of cancellation of 'GST' registration - non filing of GST returns - In the case on hand,......
December 16, 2022 Case Laws GST

Validity of order passed u/s 73 of GST Act - Maintainability of Writ petition - Alternative remedy of appeal - Denial of Input Tax Credit (ITC) - The curtains are......
December 16, 2022 Case Laws GST

Refund of IGST - Difficulty at GSTN level - export of goods - Finding fault with the officer concerned also will not help as they are largely dependent on the network.......
December 16, 2022 Case Laws Income Tax

Reassessment proceedings - during the pendency of the proceedings u/s 154 for rectification of error, it was not permissible on the part of the Revenue to initiate the......
December 16, 2022 Case Laws Income Tax

Faceless Assessment u/s 144B - Personal opportunity of hearing was not granted to the petitioner, we do not find any good reason to grant any time to file......
December 16, 2022 Case Laws Income Tax

PE in India - activities of Research and development activities do not constitute a PE of the assessee in India - A plain reading of the Article 7(1) would show, that......
December 16, 2022 Case Laws Income Tax

Continuation of prosecution proceedings when levy of penalty has been deleted - Offence u/s 276C (1), 277 and 278E of the Income Tax Act - Particularly the law point......
December 16, 2022 Case Laws Income Tax

Addition u/s 56(2)(viia) - taking fair market value of buy back of shares by assessee from its holding company a company incorporated in USA - the provisions of section.....
December 16, 2022 Case Laws Income Tax

Addition u/s 56(2)(viia) - buy back of its own shares - The fact remains that the factum of extinguishment of the purchased shares by reducing the paid up capital of the....
December 16, 2022 Case Laws Income Tax

TDS u/s 194C or 194I - Short-deduction of taxes - payments towards maintenance charges - Addition u/s 201(1) / 201(1 A) - assessee-in-default’ - the common area......
December 16, 2022 Case Laws Income Tax

LTCG - ownership of property - Liability of power of attorney holder (GPA) - we are unable to persuade ourselves to subscribe to the view taken by the lower authorities.....
December 16, 2022 Case Laws Income Tax

Disallowance u/s 40A(3) read with Rule 6DD - expenses incurred in cash - payment through agent - There is no finding of the Ld.CIT(A) to the effect that the agent was......
December 16, 2022 Case Laws Income Tax

Addition u/s 68 - unexplained investment - CIT(A) looked into the matter from the angle of the provision of section 56(2)(viib) brought on the statute book by the......
December 16, 2022 Case Laws Income Tax

Schemes of merger and demerger approved by NCLT - jurisdiction of AO - None of the decisions cited by the learned senior advocate held that the revenue does not have an.....
December 16, 2022 Case Laws Income Tax

Revision u/s 263 by CIT - Unexplained Cash deposited in the bank account - taxability of profit @ 8% u/s. 44AD - This action of the assessee was accepted by the AO......
December 16, 2022 Case Laws Income Tax

Addition u/s 2(22)(e) - deemed dividend of income - the security premium reserve cannot be regarded as part of accumulated profits u/s 2(22)(e) and when such security......
December 16, 2022 Case Laws Income Tax

Taxability of amount received by the assessee on the basis of the award by the Arbitration Court - the amount was already shown by the assessee in the balance sheet as......
December 16, 2022 Case Laws Income Tax

The decisions of the Hon’ble non-jurisdictional High Court have no relevance in the present context. It is also elementary in law that the mere pendency of the appeal,......
December 16, 2022 Case Laws Income Tax

TDS u/s 192 on the perquisite - underreporting of value of perquisite - FMV of shares to determine the value of perquisites in respect of exercising of option under ESOP....
December 16, 2022 Case Laws Income Tax

TP Adjustment - benchmarking of transaction - the margin shown by the assessee of gross profit is 15.35% compared to the comparable companies of 14.60% we direct the......
December 16, 2022 Case Laws Customs

Provisional release of seized goods - allegation import of second hand card in the guise of new car - violation of policy condition (II)(d)(iv) in chapter 87 of the ITC.....
December 16, 2022 Case Laws Customs

Amendment to shipping bill - Period of limitation - non-availability of goods for examination - export of cold rolled non grain oriented silicon electrical steel......

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