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Highlights / Annotations / Catch Notes For June

Home Highlights June

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Showing 851 to 900 of 6336 Records

1 ....14 15 16 171819 20 21 22........ 127

June 4, 2024 Case Laws GST

RCM - Individual truck owners providing transport services are considered Goods Transport Agency for GST purposes.
June 4, 2024 Case Laws Income Tax

Penalty u/s 271(1)(c) not justified on estimate basis of 6% bogus purchases. No concealment proved.
June 4, 2024 Case Laws Income Tax

Levy of penalty u/s 271D without valid satisfaction recorded u/s 269SS - Penalty deleted for AY 2016-17 & 2017-18.
June 4, 2024 Case Laws Income Tax

Expenses on ESOP scheme held allowable u/s 37(1) - ESOP expenses actually incurred are allowable
June 4, 2024 Case Laws Income Tax

Disallowance of provision for leave encashment upheld u/s 43B(f) - deduction allowed on actual payment basis. Excise duty subsidy held as capital receipt not taxable.
June 4, 2024 Case Laws Income Tax

Validity of additions u/s 153A questioned - no incriminating material found - Tribunal rules in favor of assessee.
June 4, 2024 Case Laws Income Tax

Reopening of assessment u/s 147 beyond 4 years quashed. Addition u/s 68 not justified. Assessee provided documents to support claim.
June 4, 2024 Case Laws Income Tax

TP adjustments - CUP method justified, TNMM adopted. CIT(A) upheld royalty rate at 5%. Management fees & IT costs justified.
June 4, 2024 Case Laws Income Tax

Cash sales supported by audited books, VAT returns, stock tally cannot be disregarded u/s 68. CIT(A) rightly relied on tribunal judgments.
June 4, 2024 Case Laws Income Tax

Land transfer under section 2(47) for capital gain - Delay in project completion not a defense. Fair market value as cost of acquisition.
June 4, 2024 Case Laws Customs

Appellant's goods (Thiram) classified under wrong heading, anti-dumping duty wrongly imposed. 3808 9230 specifically covers 'Thiram'
June 4, 2024 Case Laws Customs

Imported goods misclassified as Biofos MCP under tariff heading 2835 2810 instead of 2309 9090. Deliberate attempt to misclassify goods for lower duty rate.
June 4, 2024 Case Laws Insolvency and Bankruptcy

Approval u/s 35(5) for Liquidator is mandatory. Post facto approval makes proceedings competent. No need to notify party before approval.
June 4, 2024 Case Laws Insolvency and Bankruptcy

Initiation of CIRP u/s 7 - Number of allottees key for threshold. Validity of possession and Occupancy Certificate discussed. No error in admitting application.
June 4, 2024 Case Laws Insolvency and Bankruptcy

Restoration of dismissed petition for non-prosecution allowed. Applicant showed sufficient cause. Forum shopping involved.
June 4, 2024 Case Laws Service Tax

Refund claim denied due to unjust enrichment. Appellant failed to prove no unjust enrichment. Appeal dismissed.
June 4, 2024 Case Laws Service Tax

Transporting coal from pit heads to railway sidings not classified as mining services, but as GTA services.
June 3, 2024 Notifications DGFT

Notification: Amendment in item description of 'Glufosinate Technical' under HS Code 38089390. Import now 'Prohibited' below Rs. 1289/Kg.
June 3, 2024 Circulars DGFT

Amendment in Appendix 6B of FTP/HBP, 2023: Value addition requirements updated for spices under Chapter 9 of ITC(HS) Code.
June 3, 2024 Case Laws GST

Seizure order declared illegal by High Court. BI (EO) lacked authority for search & seizure. Petition allowed, seizure set aside. (EO)
June 3, 2024 Case Laws Income Tax

Deduction u/s 11(1) on accumulated income. Donations not hit by Explanation 2. Tribunal rules in favor of assessee.
June 3, 2024 Case Laws Income Tax

Restriction on set-off of loss from house property upheld as constitutional. Amendment not retrospective.
June 3, 2024 Case Laws Income Tax

Salary income: One-time payment to ESOP holders not taxable as perquisite u/s 17(2)(vi).
June 3, 2024 Case Laws Income Tax

Interest received on compensation from auction sale deemed capital receipt, not taxable.
June 3, 2024 Case Laws Income Tax

Reassessment proceedings u/s 147 after 4 years lacked fresh material. No valid reason to reopen assessment.
June 3, 2024 Case Laws Income Tax

Validity of reassessment u/s 148 challenged - AY 2013-14 beyond block period - Notice quashed.
June 3, 2024 Case Laws Income Tax

Legal right to challenge auction of HUF properties granted. Lis Pendens principle upheld. Auction purchasers not protected.
June 3, 2024 Case Laws Income Tax

Addition as unexplained income was unjustified. Lack of proof on transactions led to deletion of addition.
June 3, 2024 Case Laws Income Tax

Exemption u/s 54F for investment in residential house denied. Property used for manufacturing, not residential purpose.
June 3, 2024 Case Laws Income Tax

Discrepancy in Form 26AS & income return resolved. Salary disallowance overturned. No disallowance u/s 14A.
June 3, 2024 Case Laws Income Tax

Payments to overseas entities not liable for TDS, deemed as relocation expenses. - DDT liability remitted back for adjudication. - Finance lease depreciation allowed, confusion clarified.
June 3, 2024 Case Laws Income Tax

Disallowance of royalty payment & TDS u/s 195 upheld in favor of assessee. No disallowance u/s 14A r.w.r.8D. ESI contribution payment issue restored to CIT(A).
June 3, 2024 Case Laws Income Tax

Rectification of mistake u/s 154 beyond limitation period - AO's duty not fulfilled - AO directed to dispose the application.
June 3, 2024 Case Laws Income Tax

Non-taxable contributions from members upheld under doctrine of mutuality. Incorrect reporting doesn't change tax status. Deduction under u/s 80P(2)(d) allowed.
June 3, 2024 Case Laws Income Tax

Expenses disallowed due to non-deduction of TDS: Opportunity for representation granted. Waiver of loan: Addition u/s 41(1) deleted as this provision was not invoked.
June 3, 2024 Case Laws Income Tax

Unexplained cash deposits in bank account: Assessing officer's addition u/s 69A challenged. Relief granted for pre-demonetisation deposits.
June 3, 2024 Case Laws Income Tax

Assessee allowed LTCG deduction u/s 54B for lands purchased in family members' names. Entire investment made by assessee.
June 3, 2024 Case Laws Customs

CESTAT Chennai ruled that royalty payments to Valeo, France not linked to import of raw materials. Extended period not valid for duty demand.
June 3, 2024 Case Laws Customs

Gold smuggling case: Currency & cars confiscated based on unreliable statements. Onus on department to prove guilt. Appeals succeed.
June 3, 2024 Case Laws Customs

Imports of 'Prime Pre-painted Steel Coils - MIP violation - Confiscation u/s 111(d) - Redemption fine & penalty set aside - No malafide intent.
June 3, 2024 Case Laws Customs

Imported glass sheets undervaluation case: Revenue failed to justify rejection of declared value. Tribunal sets aside demand & penalties.
June 3, 2024 Case Laws Customs

Jurisdictional limits of Advance Rulings u/s 28J of Customs Act, 1962. Binding nature of rulings emphasized.
June 3, 2024 Case Laws Customs

Import of 'Transformer and its accessories' with price variation clause - reassessment of bills of entry upheld. Assessment deemed provisional.
June 3, 2024 Case Laws Customs

Refund claim of Special Additional Duty allowed. Test of unjust enrichment Passed. Original and appellate authorities' findings upheld.
June 3, 2024 Case Laws Insolvency and Bankruptcy

Applicability of U.S. Bankruptcy Court moratorium in India. High Court upholds principles of Comity of Nations.
June 3, 2024 Case Laws Insolvency and Bankruptcy

Financial Default and Demand Notice upheld as per IBC provisions. OTS failure justifies insolvency. Creditor's conduct held as fair.
June 3, 2024 Case Laws Insolvency and Bankruptcy

RP's application for approval of Resolution Plan rejected for non-compliance of IBC sections. Adjudicating Authority lacked reasons for rejection. Appeal allowed for fresh consideration.
June 3, 2024 Case Laws Insolvency and Bankruptcy

Forfeiture of INR 10 Crores upheld by NCLAT. Appellant's non-compliance justifies forfeiture. CoC's actions lawful.
June 3, 2024 Case Laws FEMA

Adjudication proceedings under FEMA 1999 - Rule 4(3) Clarified- no need to provide reasons to person against whom proceedings initiated.
June 3, 2024 Case Laws Money Laundering

Substitution of attached property with a bank guarantee in money laundering case allowed. Bank guarantee to be renewed till trial conclusion.

1 ....14 15 16 171819 20 21 22........ 127

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