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Highlights / Annotations / Catch Notes For May of 2024

Home Highlights May May 2024 Year 2024

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Showing 251 to 300 of 998 Records

1 ....2 3 4 567 8 9 10........ 20

May 24, 2024 Case Laws Service Tax

CESTAT: Service tax demand dropped, refund allowed as amount deposited under protest. CENVAT credit distribution upheld.
May 24, 2024 Case Laws GST

Rajasthan HC held that expired e-way bill due to unavoidable delay doesn't indicate tax evasion. Unjust penalty quashed.
May 24, 2024 Case Laws Income Tax

ITAT JODHPUR: Addition based on cash from property agreement termination & disputed business expenses deleted.
May 24, 2024 Case Laws Income Tax

ITAT Kolkata held that no valid notice u/s 148 was issued by jurisdictional AO for reassessment. Reassessment proceedings deemed illegal.
May 24, 2024 Case Laws Income Tax

ITAT Mumbai upheld deduction u/s 80IA for business activities despite additions/disallowances on bogus purchases.
May 24, 2024 Case Laws Income Tax

ITAT held that onus shifted to AO to prove purchases were bogus. No positive evidence by Revenue.
May 24, 2024 Case Laws Income Tax

ITAT Delhi held that u/s 68, journal entries alone don't constitute unexplained cash credit.
May 24, 2024 Case Laws Income Tax

ITAT Delhi held assessment u/s 144C(13) time-barred. Date of uploading the DRP order onto the ITBA portal deemed critical.
May 24, 2024 Case Laws Service Tax

CESTAT New Delhi held that service tax on late delivery & non-execution of work as compensation is not applicable as per circular by Department of Revenue.
May 24, 2024 Case Laws Income Tax

ITAT: Best Judgement assessment u/s 144: Assessee failed to provide any material contradicting the AO's findings
May 24, 2024 Case Laws Income Tax

ITAT Raipur held disallowance u/s 14A not justified as AO mechanically applied Rule 8D without proper satisfaction.
May 24, 2024 Case Laws Income Tax

ITAT: JDA - Nature of gain from property sale. Consistency in applying decisions to connected assessees is crucial.
May 24, 2024 Case Laws Insolvency and Bankruptcy

NCLAT upholds validity of CIRP against struck-off company. Settlement agreements don't absolve Corporate Debtor's liability.
May 24, 2024 Case Laws Central Excise

Admissibility of electronic evidence u/s 36B - Compliance issue - Demand quantification based on cash to invoice value - CESTAT set aside the demand.
May 24, 2024 Case Laws Income Tax

ITAT Hyderabad upheld Corporate Guarantee Commission at 0.53% for foreign AEs. Interest on Trade Receivables benchmarked at 6% SBI rate.
May 24, 2024 Case Laws Income Tax

Penalty u/s 271(1)(c) - ITAT: Assessee aware of reasons for penalty. Non-striking of twin charges not prejudicial. Penalty deleted on merit.
May 24, 2024 Case Laws Income Tax

ITAT Indore grants registration u/s 12AB to assessee for charitable activities. Commercial receipts not exceeding 20% of total receipts.
May 24, 2024 Case Laws Customs

CESTAT Chandigarh: Appeals by Revenue below Rs.50 lakhs limit not maintainable as per CBIC circular.
May 24, 2024 Case Laws Money Laundering

SC: Arrest provisions u/s PMLA & u/r UAPA. Grounds of arrest must be communicated in writing promptly. Fundamental rights upheld.
May 24, 2024 Case Laws Indian Laws

Accused convicted u/s 138 N.I. Act for dishonour of cheque. Even a blank signed cheque leaf implies a debt under u/s 139
May 23, 2024 Case Laws Indian Laws

Collector (Stamp) lacks power to recall order u/s 47-A of Indian Stamp Act - Authority must adherence to statutory limits
May 23, 2024 Circulars FEMA

RBI issues new Directions u/s 10(4) & 11(1) of FEMA for Margin in Derivative Contracts, superseding previous Circular.
May 23, 2024 Circulars SEBI

SEBI issues Master Circular for Alternative Investment Funds incorporating provisions until March 31, 2024.
May 23, 2024 Circulars Companies Law

Relaxation of additional fees & extension of last date for filing Form LLP BEN-2 & Form 4D under LLP Act, 2008 - MCA Circular.
May 23, 2024 Circulars Customs

Amendments to Duty Drawback Rates effective from 03.05.2024. Enhanced rates for specific items.
May 23, 2024 Circulars SEBI

SEBI mandates standardized half-yearly reporting for Investment Advisers starting March 31, 2024. Reports due within 7 working days post-period.
May 23, 2024 Circulars SEBI

Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA u/s 11A of PMLA, 2002.
May 23, 2024 Circulars Customs

Duty Drawback not disbursed in some cases due to unvalidated Bank details by PFMS. Take action on ICEGATE for registration/modification.
May 23, 2024 Circulars Customs

Refunds of IGST on exports delayed due to SB005 error. Exporters must ensure invoice details match in GSTR 1 and shipping bill.
May 23, 2024 Circulars Income Tax

Guidelines for compulsory selection of returns for Complete Scrutiny in FY 2024-25 issued by CBDT. Key parameters include surveys u/s 133A, searches u/s 132, and notices u/s 142(1) & 148.
May 23, 2024 Circulars DGFT

Export Obligation: 3% non-achievement amount applies to AA issued u/s Para 4.49(b) post 01.04.2023. 10% CIF value applies to AA u/s Para 4.49(a)(ii) post 01.04.2023.
May 23, 2024 Case Laws Income Tax

In a case of undisclosed investment in family property, High Court upholds ITAT's decision confirming the addition.
May 23, 2024 Case Laws Income Tax

Reassessment Order validity questioned due to CIT(A) errors. AO appeal allowed due to lack of independent decision by CIT(A).
May 23, 2024 Case Laws Income Tax

ITAT Kolkata held that addition u/s 50C not sustainable as lower authorities failed to refer to DVO for fair property value.
May 23, 2024 Case Laws Income Tax

ITAT Hyderabad directed TP adjustment to be based on transactions with AEs only. Manufacturing segment to consider TNMM, trading segment to consider RPM. Segmentation issue remanded.
May 23, 2024 Case Laws Income Tax

ITAT Mumbai allowed 50% deduction u/s 80G for donation exceeding 10% of income to approved educational institution.
May 23, 2024 Case Laws Income Tax

ITAT Mumbai allowed the exemption u/s 54 for LTCG as construction not started within 3 years. AO directed to tax only unutilized amount u/s 45.
May 23, 2024 Case Laws Income Tax

ITAT Delhi held that as the assessee lacked books of accounts, Sec 68 doesn't apply. Assessee proved lender's creditworthiness, identity, and transaction genuineness.
May 23, 2024 Case Laws Income Tax

ITAT Chennai held no disallowance u/s 14A r.w.r. 8D as no exempt income earned. Re-examine TDS u/s 195 on technical services considering DTAA. Dismissed prior period expenditure claim.
May 23, 2024 Case Laws Income Tax

HC held that TDS u/s 194H not applicable to transactions between appellant and distributors of SIM. Relationship is not that of agent but principal-principal.
May 23, 2024 Case Laws GST

High Court: Registration cancellation during pandemic set aside, registration restored with return filing deadline.
May 23, 2024 Case Laws GST

Madhya Pradesh High Court directs release of original documents seized by Respondent, allows cross-examination of witnesses, and ensures principles of natural justice are upheld.
May 23, 2024 Case Laws Income Tax

HC revoked provisional attachment order u/s 281B for Fixed Deposit Receipts due to business hardship. Attachments released.
May 23, 2024 Case Laws Income Tax

Order u/s 92CA: High Court held that the AO's second reference post limitation period was unwarranted as TPO had already acted on ITAT's directions.
May 23, 2024 Case Laws Income Tax

ITAT allowed additional evidence on LTCG & deduction u/s 54F. CIT(A) erred in not admitting evidence.
May 23, 2024 Case Laws Income Tax

ITAT held interest on outstanding receivables as international transaction, requiring separate benchmarking. ALP to be determined using LIBOR+200 points.
May 23, 2024 Case Laws Income Tax

ITAT held that land was not registered in the name of assessee, hence not a capital asset. Not taxable as capital gain.
May 23, 2024 Case Laws Income Tax

ITAT deleted the additions as unexplained investment, for payment made to company. Assessee's explanations on genuine transactions accepted.
May 23, 2024 Case Laws Income Tax

ITAT condoned delay in filing appeal for registration u/s 12A & 80G. Trust's application restored for de-novo consideration by CIT.
May 23, 2024 Case Laws Income Tax

ITAT allowed the deduction u/s 80JJAA as the assessee's CA filed Form 10DDA before the due date, even though it was accepted later.

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