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Highlights / Annotations / Catch Notes For May of 2020

Home Highlights May May 2020 Year 2020

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Showing 1 to 50 of 298 Records

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May 31, 2020 Case Laws Income Tax

Exemption u/s 11 - assessee is running a hostel and every year surplus is generated - As hostel fee income is subservient to the main object of the education and......
May 31, 2020 Case Laws Income Tax

Accrual of income - Addition on sale of development rights - When obligations of the assessee under the joint venture agreement are not yet performed, there cannot be......
May 31, 2020 Case Laws Income Tax

Capital gain - nature of land sold - capital asset v/s agricultural land - whether the agricultural land sold by the assessee or his HUF is a ‘capital asset’? - land......
May 30, 2020 Case Laws Income Tax

TP Adjustment - payment made to its AE towards Maintenance services relating to software licenses - There is merit in the contentions of the assessee that the......
May 30, 2020 Case Laws Income Tax

Addition u/s 69B on the basis of DVO's report only - Unexplained investment in the hotel building - 99 years lease deed was converted to a sale deed - registered valuer.....
May 30, 2020 Case Laws Indian Laws

RTI - Scope of Public Authority - it is not possible to hold that the petitioners who are substantially financed by the companies owned by the State Government cannot be....
May 30, 2020 Case Laws VAT and Sales Tax

Auction Sale of Attached property - Recovery of tax - the petitioner therein contended that he was the bona fide purchaser, since he purchased the property only after......
May 30, 2020 Case Laws VAT and Sales Tax

Input tax credit - duty paying invoices - case of petitioner is that the petitioner had availed Input Tax Credit on the strength of invoices issued by dealers who had......
May 29, 2020 Case Laws Income Tax

TP Adjustment - TPO arriving ALP by using TNMM Method and rejecting the CPM Method used by the appellant company for the purpose of determining ALP - In any case, the......
May 29, 2020 Case Laws Income Tax

Exemption u/s. 11 - Proof of charitable activities - online educational activities - Attendances are also virtual instead of physical. Chat boxes are medium of group......
May 29, 2020 Case Laws Income Tax

Pronouncement of orders within 90 days after the conclusion of hearing - Covid-19 epidemic - Worldwide lockdown - We are of the considered view that rather than taking a....
May 29, 2020 Case Laws Income Tax

Exemption u/s 10(34) - assessee's status of an Association of Persons [ AOP] declaring income of Rs. Nil by claiming the dividend as exempt u/s 10(34) - whether the......
May 29, 2020 Case Laws Income Tax

Disallowance u/s 14A r.w rule 8D(2)(iii) - since there is no tax free income, there could not be any disallowance u/s 14A - AO directed to re-compute the income of the......
May 29, 2020 Case Laws Income Tax

Additions u/s 68 - in absence of any details of such cash loan received from his friends and relations and considering the fact that the assessee was showing a huge......
May 29, 2020 Case Laws Income Tax

Rectification petition u/s 154 - Merely because assessee has inserted some figures, which are not in coherence with the other figures in the income tax return, there is.....
May 29, 2020 Case Laws Income Tax

Validity of notice u/s 143(2) - scrutiny assessment - issuance of notice u/s. 143(2) by correct AO - As per CBDT instruction the scrutiny noticemust be issued by the......
May 29, 2020 Case Laws Service Tax

Refund of unutilized cenvat credit - carried forward of balance cenvat account to TRAN-1 GST Regime - It is not required for the appellant to deduct the amount in the......
May 29, 2020 Case Laws Central Excise

Maintainability of appeal - appropriate forum - issue as to whether the said notification would empower the revenue to deny the exemption provided under the notification....
May 29, 2020 Case Laws VAT and Sales Tax

Detention of goods - sale of goods during inter-state movement - Jurisdiction of state - This is on the underlying principle under the Central Sales Tax Act, 1956 that......
May 29, 2020 Case Laws VAT and Sales Tax

Levy of Entertainment tax - online booking charges - The petitioners have pointed out that the internet and online facility of booking could not have been envisaged in......
May 28, 2020 Case Laws GST

Place of supply - manufacture and supply of die to the foreign customer - export or not - applicant raised the tax invoice for this die immediately after the manufacture....
May 28, 2020 Case Laws GST

Government Entity or not - Rate of tax - Works Contract - agreement with National Centre for Biological Sciences for construction of Hostel building at NCBS Campus in......
May 28, 2020 Case Laws GST

Applicability of TDS under GST - catering services - The provision of tax deduction at source is applicable on the payment made to a supplier of taxable services and......
May 28, 2020 Case Laws Income Tax

Reopening of assessment u/s 147 - Bogus purchases - AO directed to confirm the addition to the extent of 2% of the purchase amount involved in the alleged accommodation.....
May 28, 2020 Case Laws Income Tax

Disallowance u/s 36(1)(iii) - interest expenses - The only plea of the assessee is that the assessee had mortgaged its property to avail bank loans for the sister......
May 28, 2020 Case Laws Income Tax

Addition on renovation expenses on lease hold property - Non deduction of TDS - Such an addition or disallowance cannot be made u/s 40(a)(ia), because the major expenses....
May 28, 2020 Case Laws Income Tax

Revenue recognition - The difference in revenue generating pattern. ‘NOP’ project already completed but certain portion of development remain unsold. It shows that......
May 28, 2020 Case Laws Income Tax

Unexplained deposit in assessee’s bank account - it has to be presumed that the assessee has withdrawn the cash and the same remained to be unutilized for one reason or.....
May 28, 2020 Case Laws Income Tax

Registration u/s 12AA - education and advancement of general public utility - Object of general public utility is wider and larger object which encompasses the object......
May 28, 2020 Case Laws Income Tax

License/registration fee paid - whether is a commercial right and in the nature of an asset within the meaning of section 32(1)(ii) and the assessee is entitled to claim....
May 28, 2020 Case Laws Customs

Amendment in shipping bills - For applicability of section 149 of the Customs Act relating to amendment of documents, all that has to be seen is that documentary......
May 28, 2020 Case Laws Central Excise

Valuation - manufacture and clearance of physician samples - sale on principal to principal basis - whatever goods were sold by the appellant to their principal is......
May 28, 2020 Case Laws Income Tax

Assessment u/s. 153A - Total work in progress shown by the assessee in its books of accounts in each assessment year is to be apportioned between accounted collections......
May 28, 2020 Case Laws GST

Profiteering - purchase of Flat - The Respondent has benefited from the additional ITC to the extent of 11.90% of the turnover during the period from July, 2017 to......
May 27, 2020 Case Laws GST

Classification of goods - kraft paper made honeycomb boards - The kraft paper honeycomb board or paper honeycomb board is classified under the heading 48089000.
May 27, 2020 Case Laws GST

Classification of goods - scooter along with retro-fitment - the retro fitted two-wheeler is nothing but a two-wheeler purchased by the applicant under heading 8711 20......
May 27, 2020 Case Laws Income Tax

Payment of interest for delay in payment of agricultural income tax - the interest paid is having direct nexus with agricultural income which is exempt from tax u/s......
May 27, 2020 Case Laws Income Tax

Disallowance of unpaid service tax u/s 43B - Service tax collected by the assessee and not paid to the Government exchequer before the due date of filing of return, is......
May 27, 2020 Case Laws Income Tax

Rejection of books of accounts - Suppressed production - determination of quantum of clay which can be extracted/produced from mines - there is no material on record......
May 27, 2020 Case Laws Income Tax

Interest expenditure - Since the basic premise with the revenue for making disallowance in the present case U/s 36(1)(iii) was that the assessee had charged less......
May 27, 2020 Case Laws Income Tax

Penalty u/s 271BA - non- filing of report as required u/s 92E - Once we hold that the assessee and the alleged AE could not be treated as associated enterprises, and......
May 27, 2020 Case Laws Income Tax

Accrual of income - Since the stock-in-trade has only been contributed and has not been sold during the relevant AY, there is no receipt or accrual of business receipt......
May 27, 2020 Case Laws Income Tax

Reopening of assessment u/s 147 - AO having not carried out the scrutiny assessment within the prescribed statutory limit, cannot be given another innings for no fault......
May 27, 2020 Case Laws Customs

Confiscation of imported goods - allegation that goods at the time of import were not bearing MRP/RSP - The provision of Legal Metrology Act read with the rules......
May 27, 2020 Case Laws SEBI

Period of limitation to initiate proceedings - proceedings were launched by respondent SEBI after a period seven years - for want of any prejudice the proceedings cannot....
May 27, 2020 Case Laws Insolvency and Bankruptcy

The ‘I&B Code’ has specified time frame for conclusion of ‘Corporate Insolvency Resolution Process’ within 180 days and the extended period prescribed is 270 days. With.....
May 26, 2020 Case Laws Income Tax

Addition u/s 14A r.w.r. 8D - Whether all shares held in ‘stock-in-trade’ should be considered for disallowance under section 14A or only those shares which yielded the......
May 26, 2020 Case Laws Income Tax

Unaccounted purchases - only the profit element in such unaccounted purchase should be made especially when there is no unaccounted stock found during the survey on......
May 26, 2020 Case Laws Income Tax

Disallowance of bank charges as expenses while calculating the interest income - The claim of the assessee has been allowed in succeeding years by the CIT(A) against......
May 26, 2020 Case Laws Income Tax

Grant of registration u/s 12AA - apparently the Ld. CIT (Exemptions) was having doubts regarding the genuineness of the activities but instead of having the same......

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C: Mandatory additional qualifiers in import declarations in respect of c...

C: Implementation of automation in the Customs (Import of Goods at Conces...

C: Clarifications on the applicability of concessional duty under IGCR Ru...

N: Specifying Forms prescribed in Appendix-II of the Income Tax Rules 196...

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

N: Securities and Exchange Board of India (Buy-Back of Securities) (Secon...

H: Excess Input Tax Credit penalty appeal dismissed due to delay; court a...

H: Chit Funds Commission Not Subject to GST: High Court Quashes Notice.

H: Taxability of Additional Surcharge by Electricity Distribution Company...

H: Transport agency's bundled services disqualify it from GST exemption f...

H: Compensation for surrendering intellectual property rights treated as ...

H: Cooperative society eligible for tax deduction on interest from cooper...

H: Taxman overreached by turning limited scrutiny into wide-ranging probe...

H: TDS credit limited to income in return, excess related to past years' ...

H: Genuine anonymous donations not taxable. Grants not income if utilized...

H: Property investment source verification not valid grounds for reopenin...

H: Income Tax Assessment Notice Issued by Non-Jurisdictional Officer Quas...

H: Foreign tech firm wins case: No permanent establishment or royalty tax...

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

H: Freight charges paid to foreign shipping co. not taxable royalty or ch...

H: Software License & ICT Service Fees Taxability Re-examined - Royalty o...

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

F: assessment order

F: Transfer of ITC without filing ITC-02

N: Exemption from specified income U/s 10(46) of IT Act 1961 – ‘National ...

A: Electronic Liability Register

A: From Inception to Exit- A Complete Guide to LLP Registration, Closure,...

A: Appeal filed beyond condonable period after writ proceedings disposal ...

A: Common Mistakes to Avoid While Making Income Tax Payments

F: PRE-DEPSOIT ISSUES

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