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Highlights / Annotations / Catch Notes For February of 2021

Home Highlights February February 2021 Year 2021

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Showing 201 to 250 of 432 Records

1 2 3 456 7 8 9

February 15, 2021 Case Laws Income Tax

Validity of Reopening of assessment u/s 147 - unaccounted cash transactions - It can thus be seen that the Assessing Officer had analyzed the voluminous material......
February 15, 2021 Case Laws Income Tax

LTCG - Exemption u/s 54 - booking of flat with private builders - The provisions of section 54 nowhere prescribe construction of the house should be completed. The prime....
February 15, 2021 Case Laws Income Tax

TDS u/s 194H - Disallowance of expenditure incurred on trip scheme - the scheme is closely linked to assessee's business activity. It is also a fact that the assessee......
February 15, 2021 Case Laws Income Tax

TP Adjustment - International transaction - The only promise made by the assessee is, it will not make any divestment of the shares during the currency of the loan. In......
February 15, 2021 Case Laws Income Tax

TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from......
February 15, 2021 Case Laws Income Tax

Penalty u/s 271(1)(c) - a case of furnishing of inaccurate particulars of income has not been made out against the assessee. - Though, similar disallowances were made by....
February 15, 2021 Case Laws Income Tax

Disallowance expenditure debited under the head “Can-viroment Expenses A/c” as “Corporate Social responsibilities” expenditure - amendment being effective from......
February 15, 2021 Case Laws Customs

Refund of special additional duty of customs - It is unfathomable as to why the litigant be tossed from one office to another and wait for their legitimate dues only......
February 15, 2021 Case Laws Income Tax

Reopening of assessment u/s 147 - Undisclosed purchase of land - the fact was discovered by the Assessing Officer on the basis of the report of District Registrar - the.....
February 15, 2021 Case Laws Customs

Are Goods liable for confiscation and penalty on the importer justified? - Time and again it has been held by various authorities that mere misclassification of goods,......
February 15, 2021 Case Laws Service Tax

Valuation - scope of the term 'consideration' - inclusion of cost of free supply diesel made by M/s ONGC in the value of taxable service for running the drilling vessel.....
February 13, 2021 Case Laws GST

Seeking anticipatory bail - Husband of the applicant was arrested but applicant was released on the same day - Admittedly, the export made by the companies of the......
February 13, 2021 Case Laws GST

Interest on delayed payment of GST - CBIC has clarified that the Notification No. 63/2020-Central Tax dated 25th August 2020 relating to interest on delayed payment of......
February 13, 2021 Case Laws GST

Exclusion of ice cream from the benefits of Composition Scheme under Section 10 of CGST Act - violation of the spirit of Articles 14 and 19 of the Constitution of India.....
February 13, 2021 Case Laws GST

Exemption from GST - transmission or distribution of electricity - Through circular it was clarified that certain activities shall be taxable - Vires of para 4(1) of the....
February 13, 2021 Case Laws GST

Grant of anticipatory bail - The offence of fake ITC bill u/s 132 is not dependent upon the adjudication proceedings. Considering the seriousness of offence and the......
February 13, 2021 Case Laws Income Tax

Prayer for remand - Tribunal upon reconsideration of the factual position, found no justifiable reason to accept the prayer of the assessee to remand the matter to the......
February 13, 2021 Case Laws Income Tax

Depreciation on roads developed and maintained by the assessee - Tribunal were right in holding that the development done by the assessee by forming the road would......
February 13, 2021 Case Laws Income Tax

TDS u/s 194H OR 192 - Addition u/s 40(i)(a) - TDS was not deducted on pigmy deposits commission - the authorities below could not have treated the payment made by......
February 13, 2021 Case Laws Income Tax

Nature of expenditure incurred on building taken on lease - expenses of Repairs & Maintenance debited to Profit & Loss Account - it is quite clear that the assessee is......
February 13, 2021 Case Laws Income Tax

Addition u/s 68 as accommodation entries - long term capital gain on sale of shares as sham/bogus transaction - Mere suspicion cannot be a ground for treating the......
February 13, 2021 Case Laws Income Tax

Addition u/s 68 - suspicious sale transaction in shares (penny scrip) - bogus LTCG - The assessee merely acted on the basis of such market information and happened to......
February 13, 2021 Case Laws Income Tax

Penalty 271(1)(c) - if the contention of the Revenue is accepted, then in case of every Return where the claim made is not accepted by Assessing Officer for any reason,.....
February 13, 2021 Case Laws Income Tax

Exemption u/s 11 - violation of the provision of Section 13(1)(c) on account of payment of remuneration to specified person - In the event of any violation of provision.....
February 13, 2021 Case Laws Income Tax

Income accrued in India - Taxability as Royalty income - the income earned by the assessee from sale of software, either directly to the customers in India or through......
February 13, 2021 Case Laws Customs

Provisional release of the exportable goods - insistence on bank guarantee or revenue deposit equal to the amount declared free on board of the goods plus the probable......
February 13, 2021 Case Laws Customs

Seeking to demand duty on the lost quantity of the mixed scraps - export of goods in violation of Letter of Permission and In Bond Manufacturing License - The control......
February 13, 2021 Case Laws Customs

Duty Drawback - conversion of shipping bill - the tribunal has rightly recorded the finding that the claim of the appellant for conversion of shipping bill is based on......
February 13, 2021 Case Laws Customs

Availment of fraudulent Special Focus Market Scheme (SFMS) benefits - Since the matter is at the stage of SCN, which in our prima facie opinion is not time barred,......
February 13, 2021 Case Laws Service Tax

Rejection of declaration under SVLDRS - The object of the scheme is to encourage persons to go for settlement who had bonafidely declared outstanding tax dues prior to......
February 13, 2021 Case Laws Service Tax

Jurisdiction to impose penalty for late filing of return - Levy of late fee payable under Rule 7C of the Service Tax Rules, 1994 - The petitioner has not made out a case....
February 13, 2021 Case Laws Service Tax

Extended period of limitation - It is pertinent to mention here, that in the show cause notice itself no allegations of fraud collusion, misstatement or suppression of......
February 13, 2021 Case Laws VAT and Sales Tax

Raising unpaid tax demands - recovery of short paid tax - According to the AO, the petitioner could not have excluded the discounts passed on to the dealers from his......
February 13, 2021 Case Laws Indian Laws

Condonation of delay in filing appeal - appealable order or not - an appeal under section 37(1)(c) of the Arbitration Act, 1996 would be maintainable against an order......
February 13, 2021 Case Laws Customs

Validity of SCN - Non-adjudication of show cause notice within reasonable period - Both members of CESTAT have different opinion on application of ratio of decision in......
February 12, 2021 Circulars GST

Instructions/Guidelines regarding procedures to be followed during Search Operation - Instructions
February 12, 2021 Case Laws GST

Compensation on account of inter alia the loss in revenue triggered by reduced toll collections once GST was implemented w.e.f. 1-7-2017, along with future interest -......
February 12, 2021 Case Laws GST

Grant of Bail - fake invoices without supply of goods - fraudulent availment of ITC - entire record is in the custody of department. - At this stage, no entity will be......
February 12, 2021 Case Laws Income Tax

Income accrue or arise, or deemed to accrue or arise in India - It was admitted that the applicant conducts seismic surveys offshore for which it requires seismic......
February 12, 2021 Case Laws Income Tax

Disallowance of expenditure on account of the weighing and unloading charges - If the Assessing Officer had any doubt with regard to the genuinity of any one of the......
February 12, 2021 Case Laws Income Tax

Non-deduction of TDS on commission paid for sale of property - Invoking provisions of section 40(a)(ia) while computing income under the head “Capital Gain” - the......
February 12, 2021 Case Laws Income Tax

Exemption u/s 11 - charitable activity u/s 2(15) - cancellation of registration u/s 12AA - the assessee submitted that the same were directly deposited in the in the......
February 12, 2021 Case Laws Income Tax

Exemption u/s 11 - cancellation of registration u/s 12AA - The issues raised in the show cause notice dated 6.12.2018 issued by Ld. PCIT are not relevant for......
February 12, 2021 Case Laws Income Tax

Nature of receipt - Compensation received for pre-closure of contract manufacturing agreement is in the nature of capital receipt paid for loss of profit from business /....
February 12, 2021 Case Laws Income Tax

Disallowance of tax credit / service tax written off - disallowance made by the AO for the refund of input service tax written off - Prior period item - When the input......
February 12, 2021 Case Laws Income Tax

Unexplained investment u/s. 69 - DDIT (Inv.) could not have referred the question of cost of construction/valuation of the assessee’s building to the Valuation Officer......
February 12, 2021 Case Laws Income Tax

Addition u/s 40A(2)(b) - purchases made by the assessee from related party - The department itself having accepted the price/value of the impugned transaction in the......
February 12, 2021 Case Laws Income Tax

Penalty u/s 271(1)(c) - such provision of services and it subsequent revision may result in disallowance of the expenditure but certainly it cannot lead to levy of......
February 12, 2021 Case Laws Income Tax

TDS u/s 194C - payment was made to goldsmiths for making charges - The payment made was less than ₹ 20,000/- and aggregate payment does not exceed the sum of......
February 12, 2021 Case Laws Income Tax

Non deduction of TDS against the interest - if the AO is satisfied that both the customers have shown their interest income received from the assessee bank in their......

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