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Highlights / Annotations / Catch Notes For May of 2023

Home Highlights May May 2023 Year 2023

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Showing 101 to 150 of 551 Records

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May 25, 2023 Case Laws Income Tax

Addition u/s 41(1) - addition towards waiver of liability / expenditure claimed earlier - One of the essential requirements of Section 41(1) of the Act is that there......
May 25, 2023 Case Laws Income Tax

Hearing of the appeal out of turn - grievance of very high-pitched scrutiny assessment - petitioner did not comply with notice u/s 142(1) - In writ jurisdiction, we are.....
May 25, 2023 Case Laws Income Tax

LTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one residential house in USA - Contention of the Ld. AR that the......
May 25, 2023 Case Laws Income Tax

Renovation expenditure as capital expenditure - payment towards purchase of furniture and fixture for new office have been incurred for purchase of furniture and fixture....
May 25, 2023 Case Laws Income Tax

Income deemed to accrue or arise in India - PE in India - employees of the assessee were present in India for rendering services for a period aggregating to only 13 days....
May 25, 2023 Case Laws Income Tax

Addition u/s 68 - AO observed that unexplained money of the assessee brought into its business in the guise of share capital/share premium - For the cogent reasons......
May 25, 2023 Case Laws Customs

Violation of import condition - goods (Raw Petroleum Coke) having sulphur content in excess of 7% - the Tribunal opined that no harm will be caused by provisionally......
May 25, 2023 Case Laws Customs

Revocation of CB license reversed - The department has not been able to demonstrate possession of knowledge of “code words” or that of the alleged misdeclaration of......
May 25, 2023 Case Laws Companies Law

Seeking restoration of striken off name of company - company was non-operational - neither any GST was paid nor revenue from operation was collected. These facts are......
May 25, 2023 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - NCLT admitted the application filed u/s 7 - status / locus of Debenture Trustee - assignment of debt - After looking into the different clauses of......
May 25, 2023 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - NCLT rejected the application - Scope of the agreement between parties for use of office space - Unilateral Termination of agreement before the......
May 25, 2023 Case Laws Service Tax

Maintainability of writ petition - Alternative remedy of appeal - Erroneous order of the First Appellate Authority - Validity of SCN - Recovery of service tax - the......
May 25, 2023 Case Laws Service Tax

Rejection of petitioner’s application under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - the legislative intent to enact the SVLDR Scheme was to include.....
May 25, 2023 Case Laws Service Tax

Cross utilization of CENVAT Credit - input services - With effect from 2004 when Cenvat Credit Rules, 2004 were issued, it was stated clearly that cross utilization of......
May 25, 2023 Case Laws VAT and Sales Tax

Classification of goods sold - photo identity cards - The principal contention urged by the Revenue that photo identity cards do not fall under the Entry 71 of Schedule.....
May 25, 2023 Case Laws VAT and Sales Tax

Validity of SCN demanding VAT - charges collected for supplying and installation of goods in respect of internet and cable services - The KAT has rightly held that the......
May 24, 2023 Case Laws GST

Levy of Interest and penalty - extension of time to reply the queries raised - The circular of the respondent clearly stipulates that the communication granting time or.....
May 24, 2023 Case Laws GST

Detention of goods - Territorial Jurisdiction - Authority of the U.P. State authorities - Since in the present case, facts are in dispute, as would require consideration....
May 24, 2023 Case Laws GST

Levy of GST of advances received - time of supply - supply of goods and supply of services of works contract - the supply/ service under second contract commences......
May 24, 2023 Case Laws Income Tax

Validity of Reopening of assessment - Sanction / Satisfaction of the proper authority u/s 151(1) - it prima facie appears that in view of the prescription of Section......
May 24, 2023 Case Laws Income Tax

Levy of penalty u/s 271(1) (c) - undisclosed investment - Since the assessee could not explain the source of the purchase of the property and the payment towards......
May 24, 2023 Case Laws Income Tax

Gain on sale of shares - Business income or Capital Gains - Adventure in the nature of trade - Just because the assessee has shifted from the IPOs and has made a......
May 24, 2023 Case Laws Income Tax

Assessment u/s 153A - addition was made based on the statement of director of investing companies recorded in an independent proceedings u/s 132/133A/131(1) and the......
May 24, 2023 Case Laws Income Tax

LTCG on deemed sale of jewellery - Shortage in Jewellery detected during search and quantity declared in wealth tax return - whether the AO can resort to determination......
May 24, 2023 Case Laws Income Tax

Penalty u/s 271 AAA - source and manner in which the undisclosed income was derived - where no statement u/s 132(2) of the Act is recorded or specific query is made......
May 24, 2023 Case Laws Income Tax

Revision u/s 263 by CIT - Without proper verification of documents of the assessee, only to remand the matter to the ld. AO ‘for verification’ which is vitiated the......
May 24, 2023 Case Laws Income Tax

Special audit report u/s 142(2A) - An admitted fact on record that the AO had no occasion to examine the books of accounts furnished by the assessee, which were actually....
May 24, 2023 Case Laws Income Tax

Addition on protective basis - credits in the bank accounts of the assessee and foreign company - The separate addition made in the respective years on protective basis.....
May 24, 2023 Case Laws Income Tax

TP adjustment - foreign exchange loss - part of operating expenses or not - Sales and forex losses incurred by the assessee are closely interlinked for this reason.......
May 24, 2023 Case Laws Customs

Validity of order of lower court for release of goods / return of goods to the accused - Smuggling - yellow coloured metallic bars believed to be gold of Foreign origin.....
May 24, 2023 Case Laws Customs

Classification of imported goods - Inflatable Party Items - Requirement for any BIS Registration - As it is clarified that the impugned goods are out of preview of BIS......
May 24, 2023 Case Laws Customs

Classification of imported goods - aluminous cement - the correct classification of the impugned goods is under CTH-25233000 and the respondent is entitled the benefit of exemption - AT
May 24, 2023 Case Laws Customs

Levy of penalty u/s 112 (a) and 112 (b) of the Customs Act, 1962 - import by misdeclaration of description and value of the consignments using the IEC registered in the.....
May 24, 2023 Case Laws Companies Law

Holding Directorship of companies in excess of the limits prescribed (29 Companies) u/s 165 - Applying the above principles to the instant case on hand, it is found that....
May 24, 2023 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Financial Debt or not - money had been disbursed by the Appellant on behalf of Corporate Debtor to SBI towards loan repayment is undisputed. It is......
May 24, 2023 Circulars Income Tax

TDS on Winnings from online games - Guidelines for removal of difficulties under sub-section (3) of section 194BA of the Income-tax Act, 1961 - Circular
May 24, 2023 Case Laws Central Excise

Refund of central excise duty paid ignoring the benefit of exemption notification - Merely because the assessee submitted the application for eligibility on 08.01.2012,.....
May 24, 2023 Case Laws Central Excise

Job work - The only reason for denial of the benefit of this notification as referred above is that the principal manufacturer i.e. the raw material supplier has not......
May 24, 2023 Case Laws Indian Laws

Dishonour of Cheque - acquittal of accused - legally enforceable debt or not - an accused person is presumed to be innocent unless proved guilty and an order of......
May 23, 2023 Notes Income Tax

Current Repairs - ‘Nature & Treatment’ of expense
May 23, 2023 Case Laws GST

Levy of GST - offline/online games such as Rummy - games of chance or skill? - Entry 6 in Schedule III to the CGST Act taking actionable claims out of the purview of......
May 23, 2023 Case Laws GST

Principles of natural justice - ex-parte assessment order - evasion of tax - petitioner did not replied to the show cause notice - The appellate authority has examined......
May 23, 2023 Case Laws GST

Presence of Advocate during investigation proceedings - presence at visible but not audible distance during interrogation - Permission granted - We also permit......
May 23, 2023 Case Laws GST

Availment of ITC - WCS taken for structure on which machineries are fixed to earth - ITC in respect of foundation and support structure in respect of ETP and Transformer....
May 23, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - reasons to believe that income had escaped tax - According to the AO he was satisfied that there was insider trading amongst two family....
May 23, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - old and new provisions - When the reassessment notice issued under the unamended provision is directed to be treated and deemed to have....
May 23, 2023 Case Laws Income Tax

Validity of Reopening of assessment - Since there was a scope of AO for the scrutiny assessment at the time of scrutiny assessment, which is still in the grey area as to....
May 23, 2023 Case Laws Income Tax

Penalty u/s 271(1)(c) - defective notice u/s 274 - The notice does not delete the appropriate words and in the assessment order as well as in the penalty order, both......
May 23, 2023 Case Laws Income Tax

Penalty levied u/s 221 - default on the part of assessee or deeming the assessee to be an assessee on default - Failure to collect tax u/s 206C while selling timber -......
May 23, 2023 Case Laws Income Tax

Disallowance of salary expenses - AO has not recorded in the assessment order whether any reply or confirmation was received from such person and vaguely noted that some....

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