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Highlights / Annotations / Catch Notes For May of 2019

Home Highlights May May 2019 Year 2019

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Showing 301 to 350 of 682 Records

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May 17, 2019 Case Laws Income Tax

Taxability of interest on FDRs - mutually aided co-operative society to build houses for its members - funds collected from the members are in the nature of capital -......
May 17, 2019 Case Laws Income Tax

Penalty u/s 271B - delay in filing the tax audit report u/s 44AB - reasonable cause - statutory audit of the financial statements was not completed within the stipulated....
May 17, 2019 Case Laws Income Tax

Capital gain computation - adoption of fair market value as on 01.04.1981 - FMV is to be determined by the DVO instead of determining the value by the AO/CIT(A) without.....
May 17, 2019 Case Laws Income Tax

Nature of loss - business loss or short term capital loss - the fact remains that the assessee is engaged in property development business and developing residential......
May 17, 2019 Case Laws Income Tax

Revision u/s 263 - cash expenditure , prior period expenses, provisions for incentive etc. - CIT has not exercised jurisdiction u/s 263 on the ground of ‘no enquiry’ or.....
May 17, 2019 Case Laws Customs

Classification of the goods - redemption fine & penalty - Wireless Data Device or mobile phones - procedural relaxations and facilitation measures are for facilitating......
May 17, 2019 Case Laws Insolvency and Bankruptcy

Exclusion of the time period spent in litigation - the proposition which emerges therefore is that certain period can be excluded from the total period of 270 days......
May 17, 2019 Case Laws Insolvency and Bankruptcy

Corporate insolvency process - assignment of debt - even assuming that the Standard Chartered Bank was not registered under the SARFAESI Act nor having license to......
May 17, 2019 Case Laws Indian Laws

Criminal breach of trust - statutory auditor - disciplinary proceedings by ICAI pursuant to a complaint filed by the SFIO - violation of accounting standards cannot be......
May 17, 2019 Case Laws Customs

Illegal obtaining of duty credit license for various fraudulent export - duty free scrips - It would be practically impossible for any buyer to verify as to whether the.....
May 17, 2019 Case Laws Customs

Valuation of imported goods - import and distribution of LPG - Canalising charges are includible in the assessable value of imports.
May 17, 2019 Case Laws Customs

Levy of penalty - Export through baggage under claim of drawback - Imposition of huge penalties ranging from 2 lakhs to 35 lakhs on individuals appears to be harsh,......
May 17, 2019 Case Laws Customs

Valuation of imported goods - dry containers - Since the replacement cost represent the intrinsic value of container, agreed upon between the lessor and lessee in the......
May 17, 2019 Case Laws Customs

Confiscation & redemption fine - when the appellants have followed the practice in manner of making the declarations in Import Manifest, and existence of such practice......
May 17, 2019 Case Laws Service Tax

Mandap Keeper service - The demand is thus raised on the basis of mere assumption and presumption that premises were rented against such entry. In absence any such......
May 17, 2019 Case Laws Service Tax

Valuation - Franchise service - inclusion of amount of sale of books, admission kit, curriculum etc. - benefit of N/N. 12/2003-ST - There is no requirement in the......
May 17, 2019 Case Laws Central Excise

Reversal of CENVAT Credit - Bagasse - Bagasse not to be a manufactured product, and therefore Rule 6 of the CENVAT Credit Rules, 2004 shall have no application - The......
May 17, 2019 Case Laws Central Excise

CENVAT Credit - mere non-maintenance of input account in SAP (the accounting software) cannot be the basis to deny the credit and rnore so as credit availed is reflected....
May 17, 2019 Case Laws Central Excise

CENVAT Credit - write off of inputs - It can be argued only on the basis of accounting standards that the impugned goods are written off. Therefore, the provisions of......
May 17, 2019 Case Laws Central Excise

Effect of Notification - Retrospective or Prospective effect - CENVAT Credit - capital goods - The Circular as relied upon by the Department to give this Notification a.....
May 17, 2019 Case Laws Income Tax

Reassessment u/s 148 - time limit for notice - change of opinion - case on hand is one that of the mixed question of law and facts - AO is empowered to consider the......
May 17, 2019 Case Laws Income Tax

Revision u/s 263 - bogus purchases - documents like invoices, given details of stocks, payments through the banking channels and confirmation from parties examined by AO....
May 17, 2019 Case Laws Income Tax

Condonation of delay of 179 days - reasonable cause - assessee has accepted bonafide advice of the tax consultant who was regularly looking after its tax matters but......
May 16, 2019 Case Laws GST

Input Tax Credit - lease rent during pre-operative period for the leasehold land - appellant is constructing the Eco Resort on his own account in course of furtherance......
May 16, 2019 Case Laws GST

Rate of GST - Centage charges/Consultancy charges - Construction Agency/Project Management Consultant - pure services provided to the State Government by way of activity....
May 16, 2019 Case Laws GST

Classification of supply - The provision of services of supply of medicines, consumables, surgical items, items such as needles, reagents etc used in laboratory, room......
May 16, 2019 Case Laws VAT and Sales Tax

Input Tax Credit - Transitional Relief (TGST) was disallowed as ITC was not carried forward in the return filed in June, 2017 by dealer - later, the dealer filed TRAN-1.....
May 16, 2019 Case Laws GST

Validity of SCN - Detention of goods with vehicle - liability to pay tax, penalty and other charges - Writ against SCN - It is only if it is exfacie evident, from a bare....
May 16, 2019 Case Laws Central Excise

Valuation - PVC pipes - determination of correct transaction value as per Section 4(1)(a) of the Central Excise Act, 1944 - price at which the goods were agreed to be......
May 16, 2019 Case Laws Income Tax

Taxability of shares premium u/s 56(2)(viib) - AO was required to undertake the exercise of fact finding by determining the FMV of the Shares in question as per......
May 16, 2019 Case Laws Income Tax

TP Adjustment - writ against DRP order - admission of additional documents and seek a remand report from the AO can only mean that the panel was of the view that further....
May 16, 2019 Case Laws Income Tax

Revision u/s 263 by Pr. CIT - claim of deduction u/s 10A(lA) - It remains an undisputed fact that the AO had made adequate enquires for adopting one of permissible view.....
May 16, 2019 Case Laws Income Tax

Addition of unexplained share application money u/s 68 - Apart from furnishing the financial statement, bank statements and ITRs assessee could not produce any of the......
May 16, 2019 Case Laws Income Tax

Levy of penalty u/s 271B - no initiation of penalty u/s 271B despite higher gross receipt was available to the AO while passing the original assessment order - penalty......
May 16, 2019 Case Laws Income Tax

Rectification of mistake u/s 254 - ex-parte order on merit - assessee produced certain records after ex-parte order - factual aspect whether the assessee has received......
May 16, 2019 Case Laws SEBI

Violation of the Takeover Regulation - holding increased from 24.74% to 25.04% - violation of the Takeover Regulation is only to the extent of 0.04% and that too due to.....
May 16, 2019 Case Laws Central Excise

Duty & Penalty for clandestine manufacture and removal of goods - it is well settled legal position that the allegation of manufacture and clandestine removal of goods......
May 16, 2019 Case Laws Central Excise

Process amounting to manufacture or not - diluting of raw material namely, “STYROFAN D 623” and “APCOTEX TSN 100” with water - characteristics, chemical composition, use....
May 16, 2019 Case Laws VAT and Sales Tax

Denial of Input Tax Credit (ITC) - Section 11(7A) of the GVAT Act envisages disallowance of tax credit in excess of the amount of tax paid in respect of the same goods -....
May 16, 2019 Case Laws VAT and Sales Tax

Revision of assessment order - inter-state sales - it is no doubt true that the burden is on the petitioner, u/s 16 of the A.P. VAT Act, to show that the turnover,......
May 16, 2019 Case Laws GST

Detention of goods - absence of valid E-way bills - procedural irregularity or minor errors - Goods to be released after furnishing of Bank Guarantee(s) equal to 100% of tax.
May 16, 2019 Case Laws Customs

Smuggling of Cigarettes - whether CHA is liable for penalty u/s 112(a) - When there is no evidence to establish that the appellant had prior knowledge of the illegal......
May 16, 2019 Case Laws Customs

Exemption from SAD - Import of Microprocessors - if the goods are meant for retail sale then obliviously they cannot be meant for fitment within the CPU Housing/ laptop.....
May 16, 2019 Case Laws Customs

Valuation of duty free imports - Advance License - In absence of any correction/ amendments in the license, the value of imported goods sought to be exempted by the said....
May 16, 2019 Case Laws Customs

Classification of imported goods - Creative Toys Modelling Clay - Heading 34070010 is more specific for modeling pastes which in our view will include the clays which......
May 16, 2019 Case Laws Companies Law

Winding up of the Company - Non payment of dues - One thing strikes out immediately. If the goods supplied by the petitioner remained defective, the respondent ought to.....
May 16, 2019 Case Laws Service Tax

Refund of accumulated CENVAT credit - export of service - travel benefits to extend to employees on vacation such as leave or home travel concession are only excluded......
May 16, 2019 Case Laws Service Tax

Scope of SCN - Management, Maintenance and Repair Services - the appeal filed by revenue refers to 94 contracts that were subject matter of show cause notice, whereas we....
May 16, 2019 Case Laws Service Tax

CENVAT Credit - merely because the Mumbai office has not obtained centralized registration under the Relevant Rules, CENVAT credit availed on the service tax paid on......
May 16, 2019 Case Laws Central Excise

CENVAT Credit - Just because the Thermal Power Plant has been set up on the plot leased out by the Appellant, it would not entitle them to the CENVAT Credit in respect......

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F: INTERMEDIARY SERVICES OR EXPORT SERVICES

H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

F: ITC Issue in case of Acqusition of Company in Insolvency

H: Goods matched documents like e-way bill and invoices; detention order ...

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H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

H: Microphone Tech Classification: Functionality Over Technology.

H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

H: Claim for performance pay not an operational debt under IBC; Multiple ...

A: Director Identification Number

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