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Highlights / Annotations / Catch Notes For May of 2020

Home Highlights May May 2020 Year 2020

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Showing 151 to 200 of 298 Records

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May 15, 2020 Case Laws Central Excise

CENVAT Credit - capital goods - items of iron and steel - These items are admittedly utilized in the foundation and erection of machinery, the issue stands settled in......
May 15, 2020 Case Laws Indian Laws

Dishonor of Cheque - non-bailable warrant - it is not clear that one of main ingredient i.e. date of service of notice from which the date the cause of action arises i.e....
May 15, 2020 Case Laws Indian Laws

Dishonor of Cheque - insufficiency of funds - There is nothing on record to show that the husband and wife were at logger heads or that they were living separately. Her.....
May 14, 2020 Case Laws Indian Laws

Dishonor of Cheque - offence u/s 138 of NI Act - In view of the Section 27 of the General Clauses Act it is not necessary to mention in the complaint that service of......
May 14, 2020 Case Laws Income Tax

Depreciation on Digital Content/Animation Software developed - This digital content was manipulated by assessee to be used in different films but still it cannot be......
May 14, 2020 Case Laws GST

Validity of action of the GST authorities to stop the goods and conveyance - principles of natural justice - GST MOV-11 has already been passed - It is suggestive of the....
May 14, 2020 Case Laws Income Tax

Validity of notice u/s 143(2) - Assessee has intimated the change of address within the prescribed time and the assessee has taken all the necessary steps to object the.....
May 14, 2020 Case Laws Income Tax

Reopening of assessment u/s 147 - capital gain of sale of land - agriculture land or not u/s 2(14) - The assessee is claiming exemption and hence onus is on assessee to.....
May 14, 2020 Case Laws Income Tax

Addition u/s 40A(2)(b) - payment to the persons specified - the AO estimated the profit of the assessee and determined the income, nowhere he doubted the expenses......
May 14, 2020 Case Laws Income Tax

Penalty u/s 27ID - cash loans exceeding ₹ 20,000 from agriculturists - since the creditor had given the loan from their agricultural income and the borrower was......
May 14, 2020 Case Laws Income Tax

Income earned by sale of land - The assessee is into the business of acquiring and sale of plot and colonizers. On going through the Memorandum and Articles of......
May 14, 2020 Case Laws Income Tax

Penalty u/s 271(1)(C) - Notice issued by the Assessing Officer u/s 274 r.w.s 271(1)(c) of the Act to be bad in law as it did not specify which limb of section 271(1)(c).....
May 14, 2020 Case Laws Income Tax

Deduction u/s 36(1)(viia) - provision created for bad and doubtful debts - RBI guidelines prescribes the provision on standard assets from the year ended March 31, 2000.....
May 14, 2020 Case Laws Insolvency and Bankruptcy

Duties of IRP - collation of claims of "financial creditors", "operational creditors", etc., both domestic and international - "committee of creditors" allowed to guide.....
May 14, 2020 Case Laws Service Tax

Refund of service tax - retrospective exemption - rejection of refund on the ground of time limitation - Department was of the view that the refund claimed ought to have....
May 13, 2020 Case Laws GST

Profiteering - purchase of Flat no. A-802 in Respondent’s project “Azea Botanica” - allegation that benefit of reduction in the rate of GST not passed on - contravention....
May 13, 2020 Case Laws GST

Profiteering - supply of “American Tourister Sky Tracer HL Blue 68 cm Hard Trolley” - allegation that the Respondent did not reduce the selling price of the above......
May 13, 2020 Case Laws GST

Profiteering - Fly Ash Blocks supplied by the Respondent - allegation that the benefit of reduction in the rate of tax not passed on and instead increased the unit base.....
May 13, 2020 Case Laws GST

Classification of goods - carbonated fruit juices - classified as Fruit Juices or aerated drinks? - the issue of classification of the products similar to that in the......
May 13, 2020 Case Laws Income Tax

Revision u/s 263 - Expenditure incurred on payments to sister concerns u/s 40A(2)(b) - Inaction on the part of the AO has caused prejudice to the Revenue as contemplated....
May 13, 2020 Case Laws Income Tax

Deemed income u/s 69B - notional interest as income on loan/advances to sister concern - Since there is no specific provision in the Income Tax Act for bringing to tax......
May 13, 2020 Case Laws Income Tax

Deduction u/s 80lB - CIT(A) held that the assessee has not maintained separate books of accounts, it employed the same employees for manufacture of all products, there......
May 13, 2020 Case Laws Direct Taxes

In view of the discussions and after perusal of the judgments cited by both the parties it is held that the Single Member Bench can clarify the orders passed by the......
May 13, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - sub-sequent application was maintainable, as we find that financial debt is payable to the appellants, particularly the second appellant as there is....
May 13, 2020 Case Laws Service Tax

Deduction of service tax from the amount payment (consideration) as per the contract terms - scope of the terms of agreement - the parties did not envisage deduction in.....
May 13, 2020 Case Laws Indian Laws

Dishonor of Cheque - cheque was returned unpaid - The complaint filed under Section 138 of the Negotiable Instruments Act, 1881 is not maintainable because the......
May 12, 2020 Case Laws GST

Profiteering - supply of a “Used Heidelberg Speed Master Offset Press with complete tools and accessories - The Respondent has acted in contravention of the provisions......
May 12, 2020 Case Laws Income Tax

Reopening of assessment u/s 147 - Reliance on audit objections - deemed dividend addition u/s 2(22)(e) - This Court, on an independent application of mind and on......
May 12, 2020 Case Laws Income Tax

Assessee is entitled to deduction u/s 54E in respect of the capital gain arising on the transfer of a capital asset on which depreciation has been allowed and which is......
May 12, 2020 Case Laws Income Tax

Reopening of assessment - AO was not aware about the death of the assessee at the relevant time when he issued notice under section 148 of the Act. Therefore, notice......
May 12, 2020 Case Laws Income Tax

Deduction u/s 80IB - Additional income - disclosure of income made during the survey proceedings does not mean that the income is to be treated as income from other......
May 12, 2020 Case Laws Income Tax

Levy of interest - assessee has neither offered seized cash during his statement u/s 132(4) nor he intimated to the Department by letter that his seized cash should be......
May 12, 2020 Case Laws VAT and Sales Tax

Levy of interest and penalty - Absence of C-Forms - It is not in dispute that concessional levy of tax which is provided by the legislature is to the benefit of the......
May 12, 2020 Case Laws Indian Laws

The contract was based on a fixed rate. The party, before entering the tender process, entered the contract after mitigating the risk of such an increase. If the purpose....
May 12, 2020 Case Laws Indian Laws

Levy of tax on consumption of electricity by captive generative units - if the levy of electricity tax in terms of Sections 3[1] [2] and 4[3] of the Amendment Act, 2013.....
May 11, 2020 Case Laws GST

Release on bail - fake firms - evasion of GST input taxes - Petitioner spent one year in Jail - the maximum punishment to be imposed on the petitioner, if convicted, is.....
May 11, 2020 Case Laws Income Tax

Accrual of income - Accounting as prescribed by accounting standard AS-7 - Completed Contract Method - for the subsequent years, it has changed from Project Completion......
May 11, 2020 Case Laws Income Tax

Deduction u/s 10B / 10A - transactions through third parties and inter-unit transfers - Duplication of claim of exemption - it is pertinent to mention here that the......
May 11, 2020 Case Laws Income Tax

Discount to the customer - disproportionately higher percentage - merely because there was variations in the previous and subsequent year with regard to the discount and....
May 11, 2020 Case Laws Income Tax

TDS u/s 195 - The agent may be main client, but the law mandates that the non-resident should be the main client of the agent. Therefore, this reasoning of the Ld.......
May 11, 2020 Case Laws Income Tax

Addition on account of credits in bank account - CIT(A) himself has considered the fact that the wife of the assessee has profit on share trading and accordingly deleted....
May 11, 2020 Case Laws Income Tax

Reopening of assessment - reason to believe or reason to suspect - Noting in the loose paper on the basis of which the AO reopened the assessment did not contain any......
May 11, 2020 Case Laws Customs

Confiscation of goods - The date of shipment that is Bill of Lading which is in month of January, 2017, the Stainless Steel Products (Quality Control) Order, 2016 was......
May 11, 2020 Case Laws Insolvency and Bankruptcy

CIRP process - release of managerial remuneration/salary arrears - Appellant claims that his Application was considered by the Adjudicating Authority but the......
May 11, 2020 Case Laws Service Tax

Refund of CENVAT Credit - time limitation - Rule 5 of CENVAT Credit Rules itself clearly specifying that such refund claims would be subject to “such safeguards,......
May 11, 2020 Case Laws Service Tax

Club or Association Service - principles of mutuality - the companies and co-operative societies which are registered under the respective Acts can be said to be......
May 11, 2020 Case Laws Central Excise

Refund of excess duty paid for the month of April, 2012 - compounded levy scheme - There is negligence on the part of the Adjudicating Authority for not entertaining the....
May 9, 2020 Notifications SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA (PAYMENT OF FEES) (AMENDMENT) REGULATIONS, 2020 - Notification
May 9, 2020 Circulars Income Tax

Clarification in respect of residency under section 6 of the Income-tax Act, 1961 - Circular
May 9, 2020 Circulars Customs

Request for Amendments and Waiver of Late Fee Charges in the Bills of Entry through e-mail procedure as facilitation during outbreak of COVID-19 - reg.......

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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...

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

A: Electronic Liability Register

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

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