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Highlights / Annotations / Catch Notes For May of 2021

Home Highlights May May 2021 Year 2021

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Showing 151 to 200 of 404 Records

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May 20, 2021 Case Laws Income Tax

Income accrued in India -Treating subscription fee received from the clients in India as Royalty/FTS within the meaning of section 9(1)(vi) and 9(1)(vii) r.w. Article......
May 20, 2021 Case Laws Income Tax

Income from other sources - difference in the value of the property purchased by the assessee - The provisions of section 56 of the Act are for the purpose of the......
May 20, 2021 Case Laws Income Tax

Disallowance of depreciation on motor car and disallowance on motor car maintenance - even though the personal use of Chevrolet Beat car by the assessee cannot be ruled.....
May 20, 2021 Case Laws Income Tax

Disallowance of Capital Expenditure written off - CIT-A had given a categorical finding that Capital expenditure incurred by the assessee was not doubted by the ld AO,......
May 20, 2021 Case Laws Income Tax

Deduction on account of prior period expenditure - the said expenditures are mainly in the nature of incentives payable to staff, payment of fees to contractors, payment....
May 20, 2021 Case Laws Income Tax

Depreciation on mobile phones - @15% OR 60% - There are smart phones which do function equivalent to the computers or much more than a computer, if the functionality of.....
May 20, 2021 Case Laws Income Tax

Disallowance of interest paid on unsecured loans - Non-deduction of TDS - Once Form No. 15G & 15H are duly submitted by the assessee before the department, then assessee....
May 20, 2021 Case Laws GST

Recovery of GST while the appeal is pending - this Court is of the view that on account of pre-deposit which has been made by the petitioner at appellate stage read with....
May 20, 2021 Case Laws GST

Carry forward of ITC - ITC, as per tran-1, was not reflected in the Electronic Credit Ledger - Since the petitioners have clearly made out a case for grant of relief,......
May 20, 2021 Case Laws Central Excise

CENVAT Credit - capital goods - lead and articles thereof, viz, lead ingot, lead dross and lead sheet classifiable under chapter 78 - The process helps restore coating......
May 20, 2021 Case Laws Indian Laws

Seeking to review holding of examinations and declaring results by the ICAI - Allegation of Oppressive action of a professional body-ICAI - if it treats any suggestion......
May 19, 2021 Circulars GST

Standard Operating Procedure (SOP) for implementation of the provision of extension of time limit to apply for revocation of cancellation of registration under section......
May 19, 2021 Case Laws GST

Violation of principles of natural justice - validity of ex-parte assessment orders - no doubt in my mind that there is total non-application of mind on the part of the.....
May 19, 2021 Case Laws GST

Transitional input tax credit - Request for availing transitional credit rejected on the ground that the tax payer has no technical glitches in filing TRAN-1 as per the.....
May 19, 2021 Case Laws GST

Detention of goods u/s 129(1) of CGST Act - Invoice number mentioned in Tax invoice not tallied with E-way bill - it is very much clear that the action of the......
May 19, 2021 Case Laws Income Tax

Disallowance of expenditure on assets transferred to work in progress - assessee has also legal obligation to provide parking spaces to buyers of shopping complex. In......
May 19, 2021 Case Laws Income Tax

Income from house property - allowability of society maintenance chares’ from rental income - to say that the actual rent received by the assessee was net of ‘society......
May 19, 2021 Case Laws Income Tax

Unexplained Money addition under Section 69A - Where the basis for making the addition in the hands of the buyer has been held as inadmissible and unsustainable, the......
May 19, 2021 Case Laws Income Tax

Levying penalty u/s. 272A(2)(k) - Filing the return belatedly - There may have been procedural lapse on the part of the assessee however, due to such procedural lapse no....
May 19, 2021 Case Laws Income Tax

Addition u/s 68 - onus to prove the identity, creditworthiness and genuineness of the share applicants - Both the nature & source of the share application received was......
May 19, 2021 Case Laws Income Tax

Long Term Capital Gain OR Short Term Capital - period of holding - inclusion of period of tenancy - The word 'held' as per dictionary meaning means to possess, be the......
May 19, 2021 Case Laws Customs

Adjudicating SCN after long gap of 11 years - Matter was kept pending - Clearly, the Revenue has thoroughly failed to justify its lapse for not adjudicating the Demand......
May 19, 2021 Case Laws Customs

Extension of two years of Export Obligation period with a further request to prospectively grant it for two years - Once having extended the period on 27.11.2018,......
May 19, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Petitioner are Homebuyers - In the instant case, the Petitioners have already obtained order from the relevant forum under the RERA Act and the same....
May 19, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Operational Creditors - existence of debt and dispute or not - This petition has been filed to recover disputed debt, which is not the object of the....
May 19, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - The default and its consequences clearly provide that nonpayment of interest towards outstanding NCDs is an 'event of default' and the Debenture......
May 19, 2021 Case Laws Central Excise

Abatement of duty - closure of the production activity at the unit was not for a continuous period exceeding 15 days - In absence of any allegations by the department......
May 19, 2021 Case Laws Central Excise

Compliance with the requirement of pre-deposit - Section 35F of the Central Excise Act, 1944 - To Consider the amount deposited during investigation as pre-deposit -......
May 19, 2021 Case Laws Indian Laws

Principles of natural justice - Since it has come on record through Ext.P7 itself that the petitioner was served with Ext.P6 notice, only on 24.03.2021, which contained.....
May 18, 2021 Case Laws Income Tax

Admissibility of application for Advance ruling u/s 245R - Pending case - The pendency has to be considered on the date of filing of the application and there was no......
May 18, 2021 Case Laws Income Tax

Maintainability of writ petition - bypassing the option to file statutory appeal as provided u/s 264A - We decline to entertain this writ application as no case is made.....
May 18, 2021 Case Laws Income Tax

Gift received from relatives - unexplained cash credit u/s 69 - Tribunal found that the assessee had not made out grounds to permit to bring in such additional evidence.....
May 18, 2021 Case Laws Income Tax

Addition u/s 68 - share capital and share premium - any addition which deserved to be made should have been made in the hands of the share applicants who have shown......
May 18, 2021 Case Laws Income Tax

Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of......
May 18, 2021 Case Laws Income Tax

Enhancement u/s 92CA - “MAP” margin - the Revenue fails to dispute that even the Transfer Pricing Officer has not drawn any distinction qua the “ALP” in all the......
May 18, 2021 Case Laws Income Tax

Bogus purchases u/s 69C - Search action u/s 132 at the premises of assessee and certain incriminating material indicating the bogus purchases shown by the assessee was......
May 18, 2021 Case Laws Income Tax

Computation of capital gain - adoption of value of the property as per registered sale deed for the purpose of Section 50C - Where the stamp duty authorities have......
May 18, 2021 Case Laws Companies Law

Allegation of oppression and mismanagement - The decision of the majority would prevail in the interest of the Company and its shareholders per se. Therefore, he cannot.....
May 18, 2021 Case Laws Companies Law

Recall of order - doctrine of merger - Appeal against the order passed by the NCLT was dismissed by the higher appellate forum - the order of the original court ceases......
May 18, 2021 Case Laws Insolvency and Bankruptcy

Approval of resolution plan - during the CIRP of ACIL, no valuer was appointed to determine the fair value of the shares held by the the Corporate Debtor. Therefore, the....
May 18, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - claim of interest on delayed payment - It cannot be concluded that based on the copy of invoice that applicant is entitled for the interest at the......
May 18, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - The nature of goods being perishable commodity, slightest delay shall cause huge loss. - The 'debt' as claimed by Operational Creditor is towards......
May 18, 2021 Case Laws Service Tax

Levy of Service Tax - When the order suffers from a patent illegality, it is certainly open to the aggrieved party to invoke the writ jurisdiction of this Court -......
May 18, 2021 Case Laws VAT and Sales Tax

Violation of principles of natural justice - validity of revision of assessment orders - change of opinion - The impugned orders would indicate that the revision is an......
May 18, 2021 Case Laws Indian Laws

Dishonor of Cheque - legally enforceable debt or not - In view of the provision of Section 139 of the Act, it is not available to the petitioner to argue that in the......
May 17, 2021 Case Laws GST

Provisional attachment of Bank accounts of petitioner / Director of the company - availment of ITC against fake/ineligible invoices - there is nothing placed on record......
May 17, 2021 Case Laws Income Tax

Notice u/s 142(1) - Faceless Assessment - Broadly, the purpose of issuance of notice under Section 142(1) of the Act is, to gather information from the assessee.......
May 17, 2021 Case Laws Income Tax

Revision u/s 263 by CIT - defect of non-issuance of notice u/s. 143(2) - Section 292BB is only safeguarding the deficiency if any of the service/non-service of notice......
May 17, 2021 Case Laws Income Tax

Disallowance of the claim incurred towards fees paid to Babson College, USA, for a management trainee - expenditure could not be treated as research & development......
May 17, 2021 Case Laws Income Tax

Addition towards cash found during the course of search u/s 69A - The department is not here to sermonise how a tax payer should keep its currency. - What is relevant is....

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

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

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

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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...

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

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F: Transfer of ITC without filing ITC-02

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