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Highlights / Annotations / Catch Notes For December of 2022

Home Highlights December December 2022 Year 2022

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Showing 451 to 500 of 587 Records

1 ....6 7 8 91011 12

December 8, 2022 Case Laws Income Tax

Levy of penalty - Assessment and penalty proceedings are distinct and separate. To our mind, when the Ld. AO has dropped the penalty proceedings after due consideration.....
December 8, 2022 Case Laws Income Tax

Depreciation - Disallowance of Capitalization of CENVAT credit on capital goods - the Revenue authorities were justified in rejecting the claim of the assessee for......
December 8, 2022 Case Laws Income Tax

Levy of penalty u/s 272A(2)(k) - Belated filing of TDS return - On filing the belated returns/statements, Revenue has not suffered any loss because the tax deducted was.....
December 8, 2022 Case Laws Customs

West Bengal Industrial Promotion Assistance to Industrial Enterprises (scheme) - The purpose of the scheme as spelt out is for encouraging manufacturing activities......
December 8, 2022 Case Laws Customs

Provisional release of imported goods - detention of goods - there is no seizure at all - doubt on Country-of-Origin certificate - The petitioners would be entitled to......
December 8, 2022 Case Laws Customs

Eligibility to the exemption from Custom Duty - DEEC - Value-based Duty Exemption Entitlement Certificate - the learned CESTAT is correct in its approach by holding that....
December 8, 2022 Case Laws Customs

Seizure of assorted diamond studded jewellery - The Respondent cannot be directed to accept the report when it was found to be unreliable. The Respondent Authorities......
December 8, 2022 Case Laws Customs

Delay in adjudication of show cause notice (SCN) - the Petitioner is justified in submitting that the Petitioner was under bonafide belief that the Respondents were not.....
December 8, 2022 Case Laws Customs

Denial of redemption fine in lieu of confiscation of goods - Since import of the disputed good was prohibited, the Adjudicating Authority had the discretion to either......
December 8, 2022 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Financial creditors - The use of the word ‘if any’ clearly makes that it is not essential for all financial debt to be with interest. However, the......
December 8, 2022 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - existence of debt and dispute or not - NCLT rejected the application - the issues raised in these emails are not moonshine defense, the issues......
December 8, 2022 Case Laws Service Tax

Condonation of inordinate delay in filing appeals - Though we do not fully approve of the conduct of the appellant in not pursuing the matter in a time bound manner,......
December 8, 2022 Case Laws VAT and Sales Tax

Valuation - inclusion of the turnover of liquor sold in the petitioner's hotel while computing taxable turnover - the petitioner is not required to include the turnover.....
December 8, 2022 Case Laws Income Tax

Determination of profit on sale of Flats - the assessee has been following project completion method of recognition of revenue and this system of accounting has been......
December 8, 2022 Case Laws Income Tax

Assessment u/s 153A - unsecured loan taken by the assessee - reliance on statement of third party - When the Assessing Officer and ld. CIT(A) has accepted that the......
December 8, 2022 Case Laws Income Tax

Disallowance of premium payable on redemption of debentures - addition on account of claim of premium on non-convertible debentures on proportionate basis - the moment......
December 7, 2022 Case Laws GST

Imposition of costs on the Department - provisional attachment - a fine question of law has been raised by the assesses in their appeal arising out of the very same......
December 7, 2022 Case Laws GST

Refund of Input Tax Credit accumulated due to inverted duty structure - In the present case, the Petitioners have not only asserted that notice was not received by the......
December 7, 2022 Case Laws Income Tax

Deemed dividend u/s.2(22)(e) - loan received by the Assessee from QNEI - the Assessee is not a shareholder of QNEI, the amount received from QNEI will not be taxable in.....
December 7, 2022 Case Laws Income Tax

Deduction u/s. 80IA - eligibility of rental income - the rental income derived by the assessee from Cargo Agents, Airlines, Banks etc., is derived from the cargo......
December 7, 2022 Case Laws Income Tax

Income accrued in India - subscription/distribution revenue earned by the assessee - royalty receipt - the issue, whether the assessee had a PE in India in these two......
December 7, 2022 Case Laws Income Tax

Revision u/s 263 - ‘business income’ OR ‘agricultural income’ - In the present case, neither any enquiry has been made by the Assessing Officer nor any questions were......
December 7, 2022 Case Laws Income Tax

Penalty u/s 271A - non maintenance of books of accounts - not furnishing tax audit report u/s 44AB - The commission being turnover/receipt for the purposes of 44AA and......
December 7, 2022 Case Laws Income Tax

Expenditure as covered u/s 43B - payment made by the assessee towards EDC under HDRUA Rules does not fall within the ambit of duty, tax, cess or fee. The impugned......
December 7, 2022 Case Laws Income Tax

Additional depreciation u/s 32(1)(iia) - manufacturing in term of section 2(29BA) - Vital fact, which is not disputed by revenue, that the assessee is purchasing plastic....
December 7, 2022 Case Laws Customs

Service Exports from India Scheme - requirement of obtaining IEC - In view of the amendment made in the FTP 2015-20, this Court does not deem it fit to venture further......
December 7, 2022 Case Laws Insolvency and Bankruptcy

Delay in Revival of the Corporate Debtor - This Tribunal, on going through the words, any person Aggrieved, occurring in Section 61 (1) of the I & B Code, 2016, is of......
December 7, 2022 Case Laws Companies Law

Power of NCLT to investigate and direct the ICAI to take action against chartered accountant - no power exist with the Tribunal, to ask an Autonomous Professional Body......
December 7, 2022 Case Laws Insolvency and Bankruptcy

Forfeiture of right to file reply of Corporate debtor - Financial Debt or not - It is significant to mention that the Financial Creditor had not sought for enforcement......
December 7, 2022 Case Laws VAT and Sales Tax

Jurisdiction and Validity/legality of re-assessment order - time limitation - when the assesses are permitted to file their returns beyond the period prescribed due to......
December 7, 2022 Case Laws VAT and Sales Tax

Maintainability of writ petition - alternate remedy of appeal - The Hon’ble Supreme Court held that the High Court ought not to have entertained the writ petition under.....
December 7, 2022 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - If the Appellant was not in a position to satisfy the Adjudicating Authority on the validity of the demand notice certainly application filed under.....
December 6, 2022 Case Laws GST

Violation of principles of natural justice - pre-show cause notice consultation - notice based on audit observation - insufficient time to respond - HC restored the SCN.....
December 6, 2022 Case Laws Service Tax

Pre-show cause notice consultation - notice based on audit observation - insufficient time to respond - The view of the learned Single Judge that there has been......
December 6, 2022 Case Laws GST

Rate of GST on services relating to setting up of solar power projects - 18% or 5% - Determination of value of services involved - GST Council has given clarity on......
December 6, 2022 Case Laws GST

Maintainability of Advance Ruling application - In the instant case the questions, on which the applicant seeks advance ruling, are not in relation to the supply of......
December 6, 2022 Case Laws GST

Classification of goods - Satin Rolls and Taffeta Rolls - The tariff heading 5806 covers the woven fabrics that are not covered under heading 5807 consisting of warp......
December 6, 2022 Case Laws Income Tax

Supremacy of decision division bench of a non-jurisdictional High Court and a single judge bench of a non-jurisdictional High Court - judicial hierarchy - Applicability.....
December 6, 2022 Case Laws Income Tax

TP adjustment - MAM selection - method used for benchmarking the royalty transaction - It may be true that the assessee aggregated payment of royalty with the......
December 6, 2022 Case Laws Income Tax

Rectification of mistake u/s 154 - TP Adjustment - arm's length price adjustment - even after holding that there was no apparent mistake in the DRP directions, whereas a....
December 6, 2022 Case Laws Income Tax

Addition u/s. 69A on account of unexplained jewellery - search & seizure - There is no logic for enhancing the quantity of gold by the weight of stones and diamonds.......
December 6, 2022 Case Laws Indian Laws

Dishonor of Cheque - It is the solemn duty of the Courts to separate the grain from the chaff. As per Section 142(1)(a) of the Act, the sole criteria being that the......
December 6, 2022 Case Laws Income Tax

Rectification u/s 154 - There was material on record to support the claim of relief u/s 11 of the Act. It is not the case where the record in the form of Computation,......
December 6, 2022 Case Laws Income Tax

Reopening of assessment u/s 147 - Sufficient time between the disposal of Objection against reopening and passing assessment order - Assessee received said with letter......
December 6, 2022 Case Laws Companies Law

Winding up of company - Operation of a company also generates employment. But, for the fact that the appellant was set ex parte there was no substantial material to show....
December 6, 2022 Case Laws Income Tax

Reopening of assessment u/s 147 - assessment is in pursuance of an order on appeal, etc. u/s 150 - Already order of the Tribunal has been given effect to by the......
December 6, 2022 Case Laws Income Tax

Long term capital loss on sale of equity shares - Approved Amalgamation Scheme - This is a classic case where the Ld.AO had denied the benefit which is statutorily......
December 6, 2022 Case Laws Income Tax

Addition u/s 68/69 - undisclosed income - absence of source of purchase of the property - Merely, because the assessee’s PAN number was mentioned as he was the Director.....
December 6, 2022 Case Laws Income Tax

Exemption u/s 10 (1) - agriculture income - contract farming - Merely because the assessee took the land on lease for conducting their research operations to produce the....
December 6, 2022 Case Laws Income Tax

Revision u/s 263 - set off of loss in speculation business against business income - In the present case, the principle business of the assessee is trading in shares.......

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