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Highlights / Annotations / Catch Notes For June of 2023

Home Highlights June June 2023 Year 2023

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Showing 551 to 600 of 619 Records

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June 5, 2023 Case Laws Service Tax

Reversal of CENVAT Credit proportionate pertaining to unsold area of flat/residential complex for which they got occupation certificate on 27.01.2017 - the respondent......
June 5, 2023 Case Laws Central Excise

Budgetary Support Scheme - scheme introduced in lieu of grant of General Exemption and refund of goods and services tax where eligible - There are no reason to not grant....
June 5, 2023 Case Laws Central Excise

CENVAT Credit - capital goods or not - GP coils, GP sheets, aluminum sections used in making air ducts for humidification machinery - The Tribunal was not justified in......
June 5, 2023 Case Laws Central Excise

CENVAT Credit - inputs or capital goods or used for the manufacture of the final product - steel items - appellant is not even claiming the Cenvat credit in respect of......
June 5, 2023 Case Laws Indian Laws

Validity of CPE program being conducted by ICAI - Conducting the programs on its on instead of outsourcing - This Court is unable to accept that the jurisdiction of the.....
June 3, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - notice issued u/s 148A(b) - non availing the opportunity to defend its case to the petitioner - As some technical snag on the portal,......
June 3, 2023 Case Laws Income Tax

Penalty u/s. 271F - non- filing of ITR - Reasonable cause for failure - assessee is an Advocate by profession and is also a partner in a law firm - ignorance of law is......
June 3, 2023 Case Laws Income Tax

Penalty u/s 271(1)(c) - Interest as obtained through interest bearing fund and used for non-business purposes - Assessee has voluntarily offered such interest......
June 3, 2023 Case Laws Income Tax

Enhancement of income - Exercise of power by the CIT(A) u/s 251 - introducing new source of income - It is not open for the ld. CIT(A) to travel outside the assessment......
June 3, 2023 Case Laws Income Tax

Exemption u/s 11(1)(a) and Section 11(2) for Deemed income u/s 11(3) - Assessee would be allowed to accumulate the income if there is “real income” which is in......
June 3, 2023 Case Laws Income Tax

Long-term capital gains - receipts by the assessee as per the consent decree passed by the Hon”ble Bombay High Court - suit for specific performance of the Agreement to.....
June 3, 2023 Case Laws Income Tax

Penalty u/s. 271B - assessee had not filed audit report - Only a qualified CA is permitted to Audit books of account. In the affidavit it is claimed by the Accountant of....
June 3, 2023 Case Laws Income Tax

Transfer of case - order u/s 127 - a valid order u/s 127 which is required to be passed for transferring a case from one AO to another AO could not be brought on record,....
June 3, 2023 Case Laws Companies Law

Oppression and Mismanagement - Transfer of Shares - allotment of shares - Forum Shopping - It is clear that even as on 1998, there was no business conducted by the......
June 3, 2023 Case Laws Companies Law

Restoration of the name of the Company - The Appellant Company has failed to file its Financial Statements and Annual Returns for the Financial Years 2015-16 and 2016-17....
June 3, 2023 Case Laws Insolvency and Bankruptcy

Dissolution of Corporate Debtor - The Insolvency Resolution Process under the I & B Code, 2016, is a Time Bound Process, and the Appellant / Promoter, having failed to......
June 3, 2023 Case Laws Insolvency and Bankruptcy

CIRP - Objection to the Resolution Plan approved by the Committee of Creditor - decisions taken by the CoC are not invalidated by a subsequent change in the composition.....
June 2, 2023 Notes Income Tax

Computation of their Turnover for the purpose of tax audit u/s 44AB - Speculation Business or Derivatives, futures, and options or Delivery based transactions
June 2, 2023 Manuals Income Tax

Taxation of ULIP - In case of ULIP, When the premium payable for any of the year during the tenure of the ULIP either exceed 10% of the sum assured or the annual premium....
June 2, 2023 Notifications Income Tax

Angle Tax - Investment in start-ups from 21 countries - Provision U/s 56(2)(viib) of IT Act 1961 shall not apply in respect of Exemption from any consideration for issue....
June 2, 2023 Notifications Income Tax

Angle Tax - Investment in Start-ups Recognized by DPIIT - Provision of section 56(2)(viib) of IT Act 1961, shall not apply to consideration received by a company for......
June 2, 2023 Notifications Income Tax

Exemption limited increased to Rs. 25,00,000 against Leave encashment by the employees other than an employee of the Government - Income Tax Notification
June 2, 2023 Notifications DGFT

Export of Rice (Basmati and Non-Basmati) - Requirement of Certificate of Inspection - to EU member states and other European Countries namely Iceland, Liechtenstein,......
June 2, 2023 Notifications Income Tax

First appellate authority being Joint Commissioner (Appeals) [JCIT(A)] with the Commissioner (Appeals) CIT(A) - Income-tax (Sixth Amendment) Rules, 2023 - Implementation....
June 2, 2023 Notifications Income Tax

Deduction u/s 80G - Provisional approval shall be effective from the assessment year relevant to the previous year in which such application is made - Income-tax (7th......
June 2, 2023 Notifications Income Tax

Exemption to buyers of PSU shares during selloff under strategic disinvestment - Income-tax (Eighth Amendment) Rules, 2023 - Notification
June 2, 2023 Case Laws GST

Applicability of GST Act - works contract commenced prior to 01.07.2017 and completed partially before 1.7.2017 or payment received partially before 1.7.2017 - Scope of.....
June 2, 2023 Case Laws Income Tax

Denial of cross-examination process of witness - ACIT restricted cross examination process by denying the questions asked by the Petitioner during cross examination -......
June 2, 2023 Case Laws Income Tax

Addition u/s 68 - proceeds from the sale of shares by treating the scrips as penny stocks - This is the case wherein the AO merely on the basis of suspicion rejected the....
June 2, 2023 Case Laws Income Tax

Maintainability of appeal before the ld. CIT(A) - Violation of section 249(4) - non-payment of admitted tax - no appeal is provided against order of the CIT(A) declining....
June 2, 2023 Case Laws Income Tax

Addition u/s 41(1) - long outstanding balances in sundry creditors accounts - AO made the additions, since the assessee has not shown any steps have been taken for......
June 2, 2023 Case Laws Income Tax

Short grant of TDS credit - CPC has denied the TDS credit on the ground that amount is not reflected in 26AS - when there such pressing circumstances and Revenue is......
June 2, 2023 Case Laws Income Tax

Salary income - Perquisites - Addition u/s. 17(2)(v) towards insurance premium paid by the employer - any policy to effect an assurance on the life of the assessee shall....
June 2, 2023 Case Laws Income Tax

Unexplained investment - Unaccounted cash for purchase - addition based on the statement / admission of the third party - Mere admission of the third party cannot be a......
June 2, 2023 Case Laws Income Tax

Reopening of assessment u/s 147 - Bypassing the option to initiate scrutiny assessment u/s 143(3) - The assessment proceedings would cease to be pending either by......
June 2, 2023 Case Laws Income Tax

TP Adjustment - specified domestic transaction of project management and supervision - Capitalized expenditure - AO is incorrect in determining the arm’s-length price of....
June 2, 2023 Case Laws Customs

Classification of imported goods - The General Rules for Interpretation of Schedule in Customs Tariff Act, 1975 require that classification should proceed from the......
June 2, 2023 Case Laws Companies Law

Compounding of offences - default in holding Annual General Meeting the company - non-compliance of Section 166/96 of the Companies Act, 1956/2013 - Once the appellant......
June 2, 2023 Case Laws Service Tax

Extended period of limitation - within the same Department the Adjudicating Authority has taken stand that the value of consumables is to be added and the Commissioner......
June 2, 2023 Case Laws Central Excise

Levy of interest on the differential duty paid during the relevant period - extended period of limitation - With regard to applicability of period of limitation for......
June 2, 2023 Case Laws Central Excise

Finalisation of provisional assessment - Denial of adjustment of excess payment against the alleged short payment of duty - appellant had passed on the excess amount of.....
June 2, 2023 Case Laws Central Excise

Reliance on the statement of the manager of the manufacturer for demand of duty - the presence of documentary evidences prevails over the oral statement which is not put....
June 2, 2023 Case Laws Central Excise

Extended period of limitation - earlier show-cause notices were issued on the issue of valuation also which have been adjudged by the Commissioner (Appeals) in favour of....
June 2, 2023 Case Laws VAT and Sales Tax

Classification of goods - Computer peripherals - LAN Connection Cable - the term peripheral has been given an expansive meaning and is not restricted to input/output......
June 2, 2023 Case Laws VAT and Sales Tax

Condonation of delay in filing of appeal - Service of order - order was sent to old address - Revenue’s main contention is that the orders were served at the address......
June 2, 2023 Case Laws Indian Laws

Dishonour of Cheque - matter settled in National Lok Adalat - Had the settlement been involuntary or on the basis of fraud, there was no occasion of acting upon such......
June 1, 2023 Manuals Income Tax

Section 194S : TDS on payment on transfer of virtual digital asset - Deduction of Tax at Source (TDS), Collection of Tax at Source (TCS) / Withholding Tax
June 1, 2023 Case Laws GST

Refund / Return money deposited during investigation - petitioner claims that he was forced to make a deposit under threat and coercion - Admittedly, the petitioner did.....
June 1, 2023 Case Laws GST

Cancellation of GST registration of petitioner - appeal rejected as time barred under section 107(1) and (4) of the CGST Act - scope of the beneficial notification dated....
June 1, 2023 Case Laws Income Tax

Reopening of assessment - determination of the 'income chargeable to tax' - The amount of “capital gain” is to be considered or the “entire sale consideration” to be......

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F: Transfer of ITC without filing ITC-02

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H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

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H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

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H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

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