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Highlights / Annotations / Catch Notes For February of 2024

Home Highlights February February 2024 Year 2024

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Showing 201 to 250 of 774 Records

1 2 3 456 7 8 9........ 16

February 22, 2024 Case Laws Income Tax

Addition made towards excess physical stock during the survey - unexplained investment u/s 69 taxable at rates prescribed u/s 115BBE - The ITAT concurred with the......
February 22, 2024 Case Laws Income Tax

LTCG - Denial of exemption u/s 54 - the ITAT observed that, for the purpose of claiming the benefit u/s 54 of the Act, within a period of one year before or two year......
February 22, 2024 Case Laws Income Tax

Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest....
February 22, 2024 Case Laws Income Tax

MAT computation u/s 115JB - Adjustment for computation of book profits u/s. 115JB on the ground that expenses are unascertained liability. - The Tribunal addressed each.....
February 22, 2024 Case Laws Income Tax

Addition u/s 56(2)(viib) r.w.r 11UA - excess premium charged - issuance of preference shares to the director/ex-director of the assessee company - The ITAT held that......
February 22, 2024 Case Laws Customs

Challenged the show cause notice issued - mergers and de-mergers - The petitioner argues that the show cause notice was issued in the name of a company, M/s.Fabritex......
February 22, 2024 Case Laws Customs

Amendment of bills of entry - The High court examined Section 149 of the Customs Act, which permits amendments of import documents under certain conditions. - HD found......
February 22, 2024 Case Laws Customs

Classification of Betine Hydrochloride (Betine HCL) - The Tribunal noted that no samples were drawn for chemical testing to support the classification, and the product......
February 22, 2024 Case Laws Customs

Classification of "quicklime" imported goods - The CESTAT considered the chemical composition of the imported "quicklime" and previous judgments on similar matters. - On....
February 22, 2024 Case Laws SEBI

Exit Policy of SEBI - letter issued by SEBI calling upon CSE [Calcutta Stock Exchange] to apply for voluntary exit - The High Court held that, Regulations such as those.....
February 22, 2024 Case Laws Insolvency and Bankruptcy

Initiation of CIRP u/s 7 - classification of Commission on sales - Financial Debt or not - threshold limit - The Adjudicating Authority analyzed the definition of......
February 22, 2024 Case Laws Service Tax

Classification of services - leaning Activity Services or not - rendering the services of “Evacuation of Ash from ash ponds and nuisance-free transportation and disposal....
February 22, 2024 Case Laws Central Excise

Method of Valuation - section 4 of Central Excise Act, 1944 or section 4A of Central Excise Act, 1944 - packages of cake mixes manufactured having been affixed with......
February 22, 2024 Case Laws Central Excise

Correctness of erasure of credit already availed by prospective invalidation of eligibility for retention of credit that would subject those services already procured......
February 22, 2024 Case Laws Central Excise

Non-fulfillment of input output norms as per the allegation of the Department - defective PETs also should be considered as part of the output or not - Applicability of.....
February 22, 2024 Case Laws Indian Laws

Condonation of delay by applying Section 5 of the Limitation Act - Section 378(5) of CrPC - In the present case, there is no such exclusionary provision under Section......
February 22, 2024 Case Laws Indian Laws

Dishonour of Cheque - legally enforceable debt or not - The only defence, which has been taken by the petitioner-convict during trial was that the cheques were issued in....
February 22, 2024 Case Laws Indian Laws

Dishonour of Cheque - applicability of principles of discharge - allegations of taking the amount on the pretext of Chinese technology - Forged documents and cheating -.....
February 21, 2024 Case Laws GST

Cancellation of GST registration of petitioner - The High Court found that the cancellation orders were arbitrary as they did not consider the returns filed by the......
February 21, 2024 Case Laws GST

Validity of assessment order - difference of turnover between P & L account and balance sheet, on the one hand, and GSTR-9, on the other - The High Court Noted that the.....
February 21, 2024 Case Laws GST

Cancellation of GST registration of the petitioner with retrospective effect - vague SCN and impugned order - The court noted that the petitioner's response to the show.....
February 21, 2024 Case Laws GST

Retrospective cancellation of GST registration of the petitioner - The High Court set aside the impugned order of GST registration cancellation was due to procedural......
February 21, 2024 Case Laws GST

Under declaration of output tax - excess claim of Input Tax Credit - impugned order is a cryptic order without adverting to any of the submissions raised by the......
February 21, 2024 Case Laws GST

Validity of assessment order and attachment notice - no allegations of fraud, wilful-misstatement or suppression of facts - The High Court held that, on examining the......
February 21, 2024 Case Laws GST

Seeking grant of Regular Bail - fictitious firms created and opened in the name of the present Applicant and his wife and the benefit of input tax credit availed in the.....
February 21, 2024 Case Laws GST

Seeking grant of regular bail - availment of irregular credit - invoices have been issued without any underlying supply of goods - The High Court held that, mere fact......
February 21, 2024 Case Laws Income Tax

Entitlement for relief u/s 89(1) - Can be equated to refund amount or not - Employee under suspension from 01.03.1996 to 16.04.2007 got ‘subsistence allowance’ for the......
February 21, 2024 Case Laws Income Tax

Rejection of Revision application u/s 264 - Exemption u/s 11 denied to assessee - benefits denied merely on the ground that the donor has deducted TDS u/s 194C and 194J.....
February 21, 2024 Case Laws Income Tax

Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash......
February 21, 2024 Case Laws Income Tax

Addition u/s 56(2)(vii)(b) - Difference between the agreed consideration and Valuation adopted by the DVO - Assessee is one of the party who along with four others......
February 21, 2024 Case Laws Income Tax

Accrual of income in India - existence of DAPE - PE in India or not? - The ITAT previously ruled in favor of the Assessee regarding the existence of a fixed place PE.......
February 21, 2024 Case Laws Income Tax

Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the......
February 21, 2024 Case Laws Income Tax

Assessment u/s 153A - Addition u/s 68 - bogus LTCG - penny Stocks - whether documents found during the course of search were of incriminating nature? - The tribunal......
February 21, 2024 Case Laws Income Tax

Excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The ITAT concluded that the addition made by the AO was not justified.......
February 21, 2024 Case Laws Income Tax

Bogus purchase bills from certain ‘hawala’ dealers - The Tribunal found the assessee failed to substantiate the genuineness of the purchases from alleged Hawala dealers,....
February 21, 2024 Case Laws Income Tax

Disallowance of finance lease rental payments - claim of the assessee to claim the lease rent as an expenditure in their computation - The ITAT held that the payment......
February 21, 2024 Case Laws Income Tax

Addition on account of provision made on performance guarantee/warranty - The ITAT found that the provision for performance guarantee/warranty was consistent with the......
February 21, 2024 Case Laws Customs

Confiscation of the currency seized - validity of order for release on payment of redemption fine - The High court found that the seizure and confiscation of foreign......
February 21, 2024 Case Laws Customs

Revocation of Customs Broker License - Deemed revocation - The tribunal observed that, the the appellants had performed due diligence in verifying the exporter's details....
February 21, 2024 Case Laws Customs

Re-exported goods after three years - Violation of Notification No. 27/2002-Cus - The Commissioner (Appeals) considered the appellant's financial problems but ultimately....
February 21, 2024 Case Laws Companies Law

Constitutional Validity of Rule 37(8) - Rejection of conversion of the Petitioner's company from an “Unlimited Liability Company” to a “Limited Liability Company” - The.....
February 21, 2024 Case Laws Companies Law

Legality of SFIO Investigation - non-maintenance of the registered office at the address mentioned in Form No.10 - The High court found no statutory or legal impediment.....
February 21, 2024 Case Laws Insolvency and Bankruptcy

Withdrawal of application which was admitted earlier for CIRP - Manner of computation of voting with regard to application u/s 12A - The NCLAT clarified that for a......
February 21, 2024 Case Laws Insolvency and Bankruptcy

Rejection of valuation report obtained by the RP from its valuers - The NCLAT observed that, Resolution Professional appointed valuers for asset valuation under CIRP......
February 21, 2024 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - existence of pre-existing disputes - arbitration case pending before the Hon’ble High Court - The NCLAT after discussing all the issues in detail,......
February 21, 2024 Case Laws Service Tax

SVLDRS - The dispute revolves around whether 50% of the amount paid by the petitioner under the Service Tax Voluntary Compliance Encouragement Scheme, 2013, should be......
February 21, 2024 Case Laws Service Tax

Levy of penalty u/s 78 - The CESTAT held that, No evidence of positive act of suppression to evade payment of duty. Extended period cannot be invoked without evidence of....
February 21, 2024 Case Laws Service Tax

Classification of services - banking and other financial services or not - service of giving bank guarantee - The tribunal, while setting aside the demand, held that......
February 21, 2024 Case Laws Service Tax

Reversal of Cenvat Credit - The tribunal agreed with the department that the assessee had not demonstrated that common input services were not used for exempted......
February 21, 2024 Case Laws Service Tax

Declared Service u/s 66 E(e) of FA or not - Business Transfer Agreement (BTA) entered by the Appellant having a non-compete clause - The tribunal held that, Adjudication....

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