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Highlights / Annotations / Catch Notes For June

Home Highlights June

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Showing 451 to 500 of 6336 Records

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June 15, 2024 Case Laws Customs

CESTAT ruled on Customs Broker License revocation due to fraudulent export practices. Time limits were met. License partly revoked, fine upheld.
June 15, 2024 Case Laws Customs

CESTAT ruled on misclassification of copper goods for export incentives. Penalties not justified. No abetment found. Appeal allowed.
June 15, 2024 Case Laws Customs

CESTAT ruled on smuggling case involving foreign gold bars seized from two individuals at a railway station. Appeal dismissed.
June 15, 2024 Case Laws Companies Law

In a recent case, the court clarified that the right to recover money through a mortgage is a Constitutional right. Priority of claims upheld.
June 15, 2024 Case Laws Insolvency and Bankruptcy

NCLAT approved Resolution Plan giving flats to Homebuyers without price hike. Dissenting Creditors' appeal dismissed.
June 15, 2024 Case Laws FEMA

Appellant directed to provide bank guarantee for penalty under FERA 1973. Tribunal found Appellant's actions intentional. Penalty reduced.
June 15, 2024 Case Laws FEMA

Appellate Tribunal found appellant guilty of accepting cricket bets for clients overseas. Reduced penalty imposed for FEMA violations.
June 14, 2024 Case Laws GST

Refund claim denied for GST assessment at 18% instead of 5% by KG Foundation. Recipient not paid the GST, petition dismissed.
June 14, 2024 Case Laws GST

HC: Levy of tax, interest, and penalty on CMWSSB for supplying purified water. Order remanded for reconsideration.
June 14, 2024 Case Laws GST

Argument that respondent failed to provide hearing opportunity due to portal issues rejected. Petitioner's tax credit shortfall upheld. Petition dismissed.
June 14, 2024 Case Laws GST

Violation of natural justice, lack of reasoning in orders, fraud by tax consultant. Orders set aside for re-adjudication.
June 14, 2024 Case Laws Income Tax

High Court ruled that petitioner can appeal order passed u/s 143(3) r/w sec 144B. Petitioner must file appeal within 15 days for consideration.
June 14, 2024 Case Laws Income Tax

Petitioner's delay in filing tax return for AY 2022-23 due to accountant's illness condoned. Genuine hardship recognized.
June 14, 2024 Case Laws Income Tax

Penalty notices must clearly state the offense committed by the assessee. Failure to do so can lead to cancellation of penalties.
June 14, 2024 Case Laws Income Tax

Investors' addition u/s 68 deleted as transactions were genuine. No proof of cash deposits found. Notional interest addition also deleted.
June 14, 2024 Case Laws Income Tax

ITAT directed fresh assessment u/s 263 for FMV of shares. Existing shareholders not taxable. Pr.CIT's revisional action unjustified.
June 14, 2024 Case Laws Income Tax

Club expenses disallowed as personal by AO, but erroneous. Company has no personal expenses. Expenses must be for business. Appeal allowed.
June 14, 2024 Case Laws Income Tax

Assessment reopened u/s 147 for undisclosed income source of property investment. AO lacked jurisdiction for additional tax.
June 14, 2024 Case Laws Income Tax

Revision u/s 263 - discrepancies in assessment - undisclosed TDS, wrong deductions. Tribunal held PCIT didn't act independently.
June 14, 2024 Case Laws Income Tax

Advance written off as expense is allowable u/s 37 if related to business. Loss not capital.
June 14, 2024 Case Laws Customs

Penalty reduced for Customs House Agent due to lack of direct involvement in fraudulent exports.
June 14, 2024 Case Laws Insolvency and Bankruptcy

NCLAT ruled on delay in filing appeal. No free copy of order obtained. Law of limitation applies. Appeal dismissed.
June 14, 2024 Case Laws Money Laundering

Money laundering case: Illegal possession of property can be proceeds of crime. Attempt to conceal, possess, or use crime proceeds is covered.
June 14, 2024 Case Laws Money Laundering

Provisional attachment order upheld in money laundering case involving illegal foreign remittances. Evidence supports prosecution complaints. Property attachment aims to preserve proceeds of crime.
June 14, 2024 Case Laws Service Tax

Petitioner not at fault for payment delay under Sabka Vishwas Scheme. Allowed to avail benefits. Previous case supports decision.
June 14, 2024 Case Laws Service Tax

CESTAT ruled no service tax on revenue shared with distributor for cinema hall services. In earlier case, Supreme Court upheld decision.
June 14, 2024 Case Laws Central Excise

CESTAT rejected application u/s 35C(2) of Central Excise Act, 1944 on bank discount from auto dealers. Order quashed, remanded for review.
June 14, 2024 Case Laws Income Tax

Business setup date is crucial for expense deduction. Actual income generation not necessary for expenditure allowance.
June 14, 2024 Case Laws Income Tax

Expenses must directly relate to income to be deductible. Liquidation expenses not linked to interest income not allowed.
June 14, 2024 Case Laws Income Tax

Appellate Tribunal ruled trust not AOP. Income taxed to beneficiaries, not trust. Beneficiaries not AOP.
June 14, 2024 Case Laws Income Tax

Denial of interest on delayed DDT refund was wrong. Appellant entitled to interest payment. Lower authority's decision set aside.
June 14, 2024 Case Laws Income Tax

The tribunal ruled in favor of the trust, stating its activities are charitable and not commercial. Rental income below 20% qualifies for exemption.
June 14, 2024 Case Laws Income Tax

Application for approval u/s 80G rejected due to late filing. Date of activity start not crucial. Form filed within due date.
June 14, 2024 Case Laws Income Tax

Validity of reopening assessment questioned due to lack of fresh information with new AO. Reassessment should be based on new info, not a change of opinion.
June 14, 2024 Case Laws FEMA

Appellate Tribunal ruled that receiving money from NRE account in Indian currency still violates FERA. Denial of cross-examination not fatal.
June 14, 2024 Case Laws FEMA

Appellate Tribunal found company guilty of violating FERA by diverting cargo to Dubai instead of Russia. Directors held liable.
June 14, 2024 Case Laws FEMA

Appellant denied allegations under FERA 1973, requested cross-examination not granted. Lack of evidence against appellant, order set aside.
June 13, 2024 Case Laws GST

Validity of order u/s 73(9) regarding Input Tax Credit error on import of goods. Petitioners get another chance to explain.
June 13, 2024 Case Laws GST

Petitioner's GST registration cancelled for not filing returns. Court sets aside cancellation, with conditions.
June 13, 2024 Case Laws GST

Taxpayer's delay in filing GST registration revocation application condoned. If all requirements met, revocation will be considered.
June 13, 2024 Case Laws GST

Taxpayer entitled to refund of Input Tax Credit. Portal issue prevented timely filing. Allowed to submit manual application within 2 weeks.
June 13, 2024 Case Laws GST

Violation of natural justice challenged in assessment orders due to discrepancies in tax returns. Orders quashed, case remitted for fresh assessment.
June 13, 2024 Case Laws GST

Appeal dismissed due to 53-day delay, not 152 days as stated. Appellate authority can condone delay beyond 120 days.
June 13, 2024 Case Laws GST

Writ-petition challenging GST circulars remanded back to court of single bench for decision.
June 13, 2024 Case Laws Income Tax

Petitioner used shell entity for accommodation entries, failed to provide evidence, writ petition dismissed.
June 13, 2024 Case Laws Income Tax

Cash payments u/s 40A restricted for business expenses. Exemptions for special cases. Assessee must prove cash payment necessity. WP Dismissed.
June 13, 2024 Case Laws Income Tax

Assessment reopened for bogus purchases, but no valid reason found. No addition can be made without proper explanation. Appeal allowed.
June 13, 2024 Case Laws Income Tax

Bar Association granted registration u/s 80G. Activities found charitable. Time limit extended. Appeal allowed.
June 13, 2024 Case Laws Income Tax

Assessee's claim for lower tax rate u/s 115BAA rejected due to late filing. ITAT lenient on procedural lapses for substantive benefits.
June 13, 2024 Case Laws Income Tax

Penalty of Rs. 150,000 for not filing audit report on time set aside as no prior approval obtained. Appeal allowed.

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