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Highlights / Annotations / Catch Notes For May of 2024

Home Highlights May May 2024 Year 2024

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Showing 51 to 100 of 998 Records

123 4 5 6........ 20

May 30, 2024 Case Laws GST

GST levy for ocean freight, ITC eligibility, and penalty u/s 122(2)(a) of CGST Act. The court partially allowed the Writ Petition.
May 30, 2024 Case Laws Income Tax

Non admission of appeal before the CIT(A) for non-payment of advance tax: Assessee not liable for advance tax u/s 208. Appeal restored.
May 30, 2024 Case Laws Income Tax

Valuation of closing stock: Retrospective amendment in Section 145A would not apply if FIFO not adopted for valuing stock in AY 2017-18
May 30, 2024 Case Laws Income Tax

Penalty u/s 271D for cash receipt in case of immovable property transfer not applicable as cash was deposited in bank.
May 30, 2024 Case Laws Income Tax

CIT has erred while invoking the powers of revision u/s. 263 - Issues involved: Sale of Residential Property, Capital Gains Computation, JDA, Land & Building Appropriation.
May 30, 2024 Case Laws Income Tax

Addition u/s 69 or 56(2)(vii)(b) based on stamp valuation vs. actual purchase. No undisclosed investment found.
May 30, 2024 Case Laws Income Tax

Income tax proceedings against dissolved/insolvent companies cannot be continued. Liabilities for periods pre-resolution plan approval extinguished.
May 30, 2024 Case Laws Income Tax

Failure to get accounts audited u/s 44AB: penalty u/s 271B not applicable as assessee didn't maintain books of accounts.
May 30, 2024 Case Laws Income Tax

Best judgment assessment u/s. 144 sustained due to late filing of return. Cash deposit during demonetization period deemed unexplained. Profit rate determined at 8%.
May 30, 2024 Case Laws Income Tax

Interest on GST is allowable business expenditure. Interest on TDS is not allowable as business expenditure since akin to income tax liabilities
May 30, 2024 Case Laws Customs

Smuggling of Gold of foreign origin: Applicant's request for anticipatory bail u/s 438 CrPC denied due to lack of evidence in smuggling case.
May 30, 2024 Case Laws Customs

Rejection of benefit of Export Incentive Scheme. Following the precedence, DGFT directed to allow the claim under the FPS and MEIS Scheme
May 30, 2024 Case Laws Customs

The order from not imposing penalty u/s 114 on Respondents for smuggling undeclared cigarettes, confirmed. Penalty imposed on others u/s 112(a).
May 30, 2024 Case Laws Customs

Levy of penalty for misclassification of imported products for chewing gum; confirmed. Mis-declaration led to extended period for duty payment.
May 30, 2024 Case Laws Customs

Classification of 'enterogermina' imports clarified, emphasizing adherence to General Rules for Interpretation.
May 30, 2024 Case Laws Insolvency and Bankruptcy

Liquidator's special powers in liquidation process clarified. Adjudicating Authority upholds refund of BG amount.
May 30, 2024 Case Laws Insolvency and Bankruptcy

Application for CIRP initiation was rightly dismissed due to absence of operational debt. Pre-existing dispute found.
May 30, 2024 Case Laws Money Laundering

PIL alleging money laundering and tax evasion dismissed, citing IT Department's examination. No further directions needed.
May 30, 2024 Case Laws Money Laundering

Court dismisses bail application citing delay in trial, no entitlement solely on that ground.
May 30, 2024 Case Laws Service Tax

Demand of service tax for Extended Warranty Scheme (EWS) is sustainable post 01.07.2012.
May 30, 2024 Case Laws Service Tax

Refund claim for Service Tax paid under reverse charge mechanism. Claim was Time-barred, revenue succeeds.
May 30, 2024 Case Laws Central Excise

Mens rea is proven in case of refund granted twice. Levy of penalty u/s 11AC sustained.
May 30, 2024 Case Laws Central Excise

Appeal dismissed due to excessive adjournments. Courts condemn mechanical adjournments. Follow rules to avoid dismissal.
May 30, 2024 Case Laws Central Excise

Colour Television Sets in SKD condition not classifiable as CTVs. Parts must have critical components for classification.
May 30, 2024 Case Laws Central Excise

Attachment of property invalid, partners not liable for firm's dues. Interest not applicable pre-1996.
May 30, 2024 Case Laws VAT and Sales Tax

Scope of review jurisdiction. Review power distinct from appellate power. It corrects errors, not grievances.
May 30, 2024 Case Laws VAT and Sales Tax

Entry Tax: The constitutional validity of Section 2A (8-a) of KTEG Act, emphasizing primacy of charging provision over definition provision.
May 30, 2024 Case Laws VAT and Sales Tax

Refund of excess tax paid allowed. Alternative Tax Compliance Scheme for Contractors, 2016 found unconstitutional.
May 30, 2024 Case Laws Indian Laws

Period of limitation: Agreement to sell land case. Plaintiff failed to appear as witness, agreement not signed by all co-owners.
May 30, 2024 Case Laws Indian Laws

Proceedings u/s 138 NI Act quashed for failure to implead company as accused. Compliance of CrPC provision not applicable.
May 29, 2024 Case Laws Indian Laws

Enhancement of compensation: substantial justice in condoning appeal delays. Liberal interpretation of Limitation Act's Section 5 but strict on Section 3.
May 29, 2024 Notifications Customs

Notification extends Countervailing Duty on 'Saccharin in all forms' from China PR until 28th Feb 2025.
May 29, 2024 Circulars DGFT

Gold/Platinum/Silver exports: Public Notice No. 05/2024 u/s Foreign Trade Policy 2023 is in abeyance till 31st July 2024 for reassessment.
May 29, 2024 Circulars Customs

Mid-year Special Drive (MSD) at Mumbai Customs Zone-II aims to enhance trade facilitation and logistics efficiency. Join the drive now!
May 29, 2024 Circulars DGFT

Gold/Platinum/Silver exports: Public Notice No. 05/2024 dated 27.05.2024 kept in abeyance till 31.07.2024
May 29, 2024 Case Laws Income Tax

Various tax issues: Foreign Exchange Gain, Deduction u/s 10B, MAT computation, Leave Encashment, 14A r.w.r. 8D, TP Adjustment, Weighted deduction u/s 35(2AB).
May 29, 2024 Case Laws Income Tax

Reassessment proceedings u/s 147: ITAT's finding that the reassessment was based on a change of opinion was perverse and unsustainable in law.
May 29, 2024 Case Laws GST

Review petition dismissed regarding the fraudulent I.T.C. claim as new evidence presented could have been submitted earlier.
May 29, 2024 Case Laws GST

Failure to comply with E-way bill rules led to penalty imposition under WBGST Act. Petitioner's jurisdiction argument rejected.
May 29, 2024 Case Laws GST

Demand u/s 73 of CGST Act due to lack of notice receipt set aside. Petitioner granted opportunity to respond.
May 29, 2024 Case Laws GST

The order u/s 73 of CGST Act, 2017 lacked consideration of petitioner's detailed reply. AO directed to pass fresh order.
May 29, 2024 Case Laws GST

Retrospective cancellation of GST registration without reasons violates natural justice. Registration can't be cancelled mechanically.
May 29, 2024 Case Laws GST

Taxpayer did not cooperate in verifying Input Tax Credit. Order set aside due to lack of proper consideration. Matter restored back.
May 29, 2024 Case Laws GST

Detained goods may be released u/s 129(1)(a) of CGST Act, 2017. Petitioner can appeal against penalty.
May 29, 2024 Case Laws GST

Retrospective cancellation of GST registration without proper reasons violates natural justice. Show Cause Notice lacked details.
May 29, 2024 Case Laws Income Tax

Tribunal's remand to reassess 'pit filling' expenses was justified. No substantial question of law arises.
May 29, 2024 Case Laws Income Tax

IBC 2016 prevails over Income Tax Act. AO have limited jurisdiction during moratorium. Can assess the tax but cannot recover.
May 29, 2024 Case Laws Income Tax

Condonation of delay: 506-day delay in filing an appeal refused due to lackadaisical attitude of the assessee.
May 29, 2024 Case Laws Income Tax

Allowability of expenditure u/s 37(1) against partner's interest & remuneration. Deductions allowed for business expenses.
May 29, 2024 Case Laws Income Tax

Interest income from land acquisition not taxable u/s 28 - Additions of interest income derived from fixed deposits towards joint bank guarantee confirmed.

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