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Highlights / Annotations / Catch Notes For February of 2023

Home Highlights February February 2023 Year 2023

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Showing 351 to 400 of 526 Records

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February 8, 2023 Case Laws Central Excise

Pending appeals wherein, the IBC proceedings have been concluded by NCLT - Since the IBC proceedings have been concluded, these appeals shall stand infructuous......
February 8, 2023 Case Laws Central Excise

Cash refund against the accumulated and unutilized Cenvat credit - From the Rule, under clause (vi) and (via), the credit of Education Cess and Secondary and Higher......
February 8, 2023 Case Laws VAT and Sales Tax

Validity of Departmental Eqquiry agaisnt the Revenue officer - alleged act or omission relating to exercise of his powers in the matter of passing orders of......
February 7, 2023 Case Laws GST

Validity of summary of the show cause notice in Form GST DRC-01 - Summary of SCN in Form DRC-01 is not a substitute of SCN u/s 74(1) - The impugned show cause notice in.....
February 7, 2023 Case Laws GST

Rejection of Application for de-freezing the account of the company - The application filed by the petitioner-company for de-freezing the account was not opposed at any.....
February 7, 2023 Case Laws Income Tax

Refund of TDS - applications for condonation of delay in filing returns claiming refund - Looking to the pecuniary jurisdiction, it clearly transpires that the Assessing....
February 7, 2023 Case Laws Income Tax

TDS u/s 194H OR 192 - Disallowance u/s 40(a)(i) - Payment of commission to the Directors - TDS is liable to be deducted u/s 192 only at the time of making payment and......
February 7, 2023 Case Laws Income Tax

Employee benefit expenses and other expenses - AO without giving any reason disallowed the expenditure to the tune of 20% on account of employee benefit expenses and......
February 7, 2023 Case Laws Customs

Classification of imported goods - products used in the preparation of animal feed supplements - when confronted with a specific classification entry vis-a-vis a......
February 7, 2023 Case Laws Central Excise

Maintainability of appeal - appropriate forum - High Court or Supreme Court - question is/was whether the respondents can be said to be manufacture of stators or not and....
February 7, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - Merely because at one stage the AO had answered to the queries raised by the Auditor regarding the assessment being in accordance with.....
February 7, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - filing of objections to the issuance of notice u/s 148A - The day on which the request is made for adjournment either needs approval or....
February 7, 2023 Case Laws Income Tax

TP Adjustment - ALP determination - interest received on outbound loans - LIBOR v/s PLR - the prevailing LIBOR rate should be adopted for the interest received on......
February 7, 2023 Case Laws Income Tax

Capital gain computation - cost of the improvement of the land - What is the nature of the evidence that the AO desires is not coming out of the assessment order but in.....
February 7, 2023 Case Laws Income Tax

Exemption u/s 11 - lease rent paid for land taken on lease for the family trust - Application of section 13(1)(c) r/w 13(3) - only excess rent may be brought to tax in......
February 7, 2023 Case Laws Income Tax

Addition u/s 69A - unexplained money - since the assessee is a non-resident Indian and except earning income from fixed deposits, there is no iota of evidence which......
February 7, 2023 Case Laws Income Tax

Delayed employer’s contributions to pension fund - provisions of section 43B of the Act would not be applicable to the assessee and even in the worse case scenario, the.....
February 7, 2023 Case Laws Income Tax

TP Adjustment - interest on receivables - by permitting the AE to hold on to the payments, the assessee has allowed the AE to reap financial benefit at the cost of......
February 7, 2023 Case Laws Income Tax

Unexplained cash deposit - agricultural income or not - genuineness of receipt of cash on sale of Popular tree - Where the Revenue authorities disbelief the contents of.....
February 7, 2023 Case Laws Income Tax

TDS u/s 194A - disallowance of delayed payment charges - to be treated as interest for the purpose of TDS or not - Provisions of section 194A has no application to......
February 7, 2023 Case Laws Income Tax

Deduction u/s 80G - assessee converted loans given to Trust in earlier financial year as donations - donations paid by the assessee by conversion of loans into donations....
February 7, 2023 Case Laws Income Tax

TDS u/s 194H - commission or brokerage - referring the students to the booksellers to purchase the textbooks published by the assessee - The substance of the transaction....
February 7, 2023 Case Laws Companies Law

Liquidation proceedings - Right of secured creditors - Both the submissions on behalf of the applicant that the Official Liquidator ought to have taken physical......
February 7, 2023 Case Laws Insolvency and Bankruptcy

Right of secured creditor to recover his dues (during liquidation proceedings) - When a statute provides for liquidation commencement date as a date up to which claims......
February 7, 2023 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - NCLT rejected the application - Financial Creditors - non-disbursement of part of financial assistance sanctioned by the Financial Creditors -......
February 7, 2023 Case Laws Service Tax

Rejection of SVLDRS - Petitioner could not be called not eligible or excluded to make declaration under the said scheme in view of Section 125(1)(c) of the aforesaid......
February 7, 2023 Case Laws Service Tax

Recovery of interest on reversal of cenvat credit - If a demand has to be issued only for amount of interest, it has to be quantified. And such quantification is......
February 7, 2023 Case Laws Central Excise

Interest on differential duty - payment of duty assessed provisionally - interest would be payable from the due date of payment of provisional duty for the purpose of......
February 6, 2023 Notes Income Tax

Firms – Rate of Income Tax on Firms / Partnership Firm will continue to be the same as that specified for FY 2022-23
February 6, 2023 Notes Income Tax

Local authorities - Rate of Income Tax will continue to be the same as that specified for the FY 2022-23.
February 6, 2023 Notes Income Tax

Companies – Rate of Income Tax / Corporate Tax & surcharge shall be the same as for FY 2022-23. Amendment has been with regard to marginal relief, where such marginal......
February 6, 2023 Notes Income Tax

Decriminalisation of section 276A of the Act - In case of liquidation of companies now provisions of IBC are in operation - the liquidator is now working under the......
February 6, 2023 Notes Income Tax

Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI) and providing for alternative mechanism for vacation of office of the Administrator. -......
February 6, 2023 Notes Income Tax

Omission of certain redundant provisions of the Act - Certain sections which were already become redundant earlier, amendment now has been made to remove those irrelevant sections.
February 6, 2023 Notes Income Tax

Set off and withholding of refunds in certain cases - It has been proposed to amend section 245 & 241A by integrating to set off refunds against tax remaining payable.......
February 6, 2023 Notes Income Tax

Removal of certain funds from section 80G - There were 3 funds based on the name of person which has been removed now for allowance of 50%/100% of deduction u/s 50G w.e.f. 01.04.2024.
February 6, 2023 Notes Income Tax

Denial of exemption where return of income is not furnished within time - The fund or institution or trust or any university or other educational institution or any......
February 6, 2023 Notes Income Tax

Alignment of the time limit for furnishing the form for accumulation of income and tax audit report - Trust or institution under the first regime or second regime has to....
February 6, 2023 Notes Income Tax

Trusts or institutions not filing the application in certain cases - Trust or institutions under first or second regime shall have to apply for re-registration in case......
February 6, 2023 Notes Income Tax

Rationalisation of the provisions of Charitable Trust and Institutions - Application of corpus fund or loans or borrowings shall not allowed as application if it is......
February 6, 2023 Notes Income Tax

Period of limitation u/s 153 - Assessment in search cases - To allow the AO to conduct proper scrutiny and consider or align all relevant information gathered in case of....
February 6, 2023 Notes Income Tax

Period of limitations u/s 153 - To include order of PCCIT/ CCIT u/s 263 or 264 for revision order which were not available earlier.
February 6, 2023 Notes Income Tax

Period of limitations u/s 153 - Extend of time period for completion of assessment u/s 143 or 144 from 9 months to 12 month for the alignment & co-ordination with......
February 6, 2023 Notes Income Tax

Rationalization of the provisions of the Prohibition of Benami Property Transactions Act, 1988 (the PBPT Act) - Any person including initiating officer aggrieved by the.....
February 6, 2023 Notes Income Tax

Assessment after re-organization of Business - amalgamation or demerger or merger - To remove the difficulty of filling of return by successor it has been proposed to......
February 6, 2023 Notes Income Tax

Extension of time for disposing pending rectification applications by Interim Board for Settlement - It is proposed to substitute Section 245(9)(iv) so as to provide......
February 6, 2023 Case Laws Income Tax

TDS u/s 195 - assessee in default - payroll services rendered by IBM Philippines to the assessee - as per Article 7(1) of Indian Philippines DTAA, the business profits......
February 6, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - Reasons to believe - surrender of the pension policy - The policy in question was assigned to third party and said assignee had......
February 6, 2023 Case Laws Income Tax

Addition u/s 56(2)(ix) - Receipt of advances against the property - In factual matrix, the advance amount was never be forfeited or adjusted in the capital account of......
February 6, 2023 Case Laws Income Tax

Revision u/s 263 - order passed on a deceased assessee - intimation about Death of assessee - There has been delay at the level of State Government in issuing necessary.....

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

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

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