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Highlights / Annotations / Catch Notes For July of 2023

Home Highlights July July 2023 Year 2023

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Showing 51 to 100 of 543 Records

123 4 5 6........ 11

July 29, 2023 Case Laws Indian Laws

Dishonour of Cheque - prosecution based upon second or successive dishonour of the cheque - there is nothing in the provisions of Section 138 of the Act that forbids the....
July 28, 2023 Case Laws Income Tax

Deduction u/s. 80IB(1) - Assessee was not the owner of the land and the approval of the project was not in the name of Assessee - the section does not prescribe anywhere....
July 28, 2023 Case Laws Income Tax

Validity of assessment against non existent company - amalgamation proceedings concluded - the assessment order passed on a non-existent Company is bad in law, inasmuch.....
July 28, 2023 Case Laws Income Tax

Disallowance on account increase in expenditure as excessive payments - Ultimately it is a business decision and does not call for the AO to sit in judgment over this.......
July 28, 2023 Case Laws Income Tax

Taxability of income in India - It is not the case of the Ld. AO that the services rendered by the assessee are in the nature of FIS/royalty etc. It cannot be said that.....
July 28, 2023 Case Laws Income Tax

Revision u/s 263 - Validity of order passed by the A.O. u/s.143(3) questioned - when the impugned order of reassessment u/s 143(3), in itself had been passed on the......
July 28, 2023 Case Laws Income Tax

MAT u/s 115JB - The findings of the ld.CIT(A) holding the impugned expenses to be not in the nature of prior period expenses, but confirming the adjustment made to the......
July 28, 2023 Case Laws Income Tax

Deduction u/s 54EC - LTCT or STCG - Investment of consideration against sale of depreciable assets - Section 50 cannot convert long term capital assets into short term......
July 28, 2023 Case Laws Income Tax

Scope of total income - Exclusion of amount transferred to special reserve - That special reserve belongs to the assessee only and is reserved for utilization in certain....
July 28, 2023 Case Laws Income Tax

Assessment framed u/s 153A r.w.s 143(3) as barred by limitation - We are of the considered view that the information called for by the department from Swiss authorities.....
July 28, 2023 Case Laws Income Tax

TP Adjustment - MAM - adjustment made towards the AMP expenses by adopting an approach similar to bright line test - if the net profit margin meets the Arm's length......
July 28, 2023 Case Laws Income Tax

Revision u/s 263 - at the time of exercise of jurisdiction under Section 263, admittedly, proceedings before AAR was pending on the issue of taxability of receipts from.....
July 28, 2023 Case Laws Customs

Power to seizure vehicle - apprehension of misuse in future - If a possible future use of a vehicle as a means of transport for smuggling goods confers a power of......
July 28, 2023 Case Laws Customs

Authority and jurisdiction - Power to search versus Power to seal u/s 105 - it does not appear that the premises of the petitioner were not available for the purpose of.....
July 28, 2023 Case Laws Customs

Revocation of order to operate as ship chandler - levy of penalty u/s 117 of CA - prohibited goods or not - allowing the goods for export - it was the duty of the......
July 28, 2023 Case Laws Customs

Levy of Penalty u/s 112(b)(i)- Smuggling of Gold Bars - town seizure - There is violation of the provision of Section 138C of the Act, as well as the principles of......
July 28, 2023 Case Laws SEBI

SEBI requisite legal power vested in it to direct the petitioner bank - Right of the bank to recovery dues and proceed with under the SARFAESI Act, 2002 - The orders......
July 28, 2023 Case Laws Insolvency and Bankruptcy

Misconduct by Resolution Professional - Now certain new facts from the communication of the Liquidator has come to light and in the normal course, query raised by the......
July 28, 2023 Case Laws Service Tax

Refund of Service Tax alongwith Interest - Export of services - even if a person has a fixed establishment in India, but if the services are provided and consumed in......
July 28, 2023 Case Laws Central Excise

Refund - Refund was sanctioned by the lower authority pending the audit objection - The Tribunal ought to have considered the contentions as urged on behalf of the......
July 28, 2023 Case Laws Central Excise

Exemption to specified goods supplied to specified institutions - Even if there is a small lacuna on the part of the authority signing the certificates cannot be......
July 28, 2023 Case Laws Central Excise

Scope of SCN - The basis on which the Adjudicating Authority has confirmed the demand has never been subject matter of the show cause notice and therefore, we hold that.....
July 28, 2023 Case Laws Central Excise

Extended period of limitation - if Cenvat Credit has been allowed in respect of the same services to the other assessee’s there is no justifiable reason for denying the.....
July 28, 2023 Case Laws Central Excise

Levy of penalty - During the impugned period i.e January 2003 to January 2005, there was no provision to impose penalty for issuance of invoices without supplying the......
July 28, 2023 Case Laws Wealth-tax

Wealth tax assessment - ownership of the land has been transferred or not - there can be no doubt in holding that the requirements of section 53A of the Transfer of......
July 28, 2023 Case Laws Indian Laws

Arbitration Agreement - Section 8 of the Arbitration and Conciliation Act Act - The MoU has been executed between the appellant and the first respondent. The non-family.....
July 28, 2023 Case Laws Indian Laws

Dishonour of Cheque - compounding fee- during the pendency of the present petition, parties have settled their dispute -The petitioner is permitted to compound the......
July 28, 2023 Case Laws Indian Laws

Dishonour of Cheque - Liability of the Managing Director of the company - The petitioners have failed to bring on record any unimpeachable material or material of......
July 27, 2023 Circulars GST

TCS liability u/s 52 - where multiple ECOs are involved in a single transaction of supply of goods or services or both through ECO platform and the Supplier-side ECO is.....
July 27, 2023 Circulars GST

TCS liability u/s 52 - where multiple ECOs are involved in a single transaction of supply of goods or services or both through ECO platform and where the supplier-side......
July 27, 2023 Circulars GST

Difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in FORM GSTR-2A for the period 01.04.2019 to 31.12.2021. - CBIC clarified the issues in detail
July 27, 2023 Circulars GST

Interest u/s 50(3) of the CGST Act, 2017, in cases of wrong availment of IGST credit and reversal thereof - There will not be any interest liability u/s 50(3) of CGST......
July 27, 2023 Case Laws GST

Jurisdiction - power to issue a notice u/s 61(3), once returns have been submitted by the assessee before initiating action u/s 74 of the Act - The scrutiny proceedings.....
July 27, 2023 Case Laws GST

Levy of GST - Credit Card loan - tax charged by the bank on each instalment of interest together with the loan amount paid by the appellant. - the appellant’s above......
July 27, 2023 Case Laws GST

Dereliction of duties on the part of the concerned officer - Almost two years of the judicial time has been wasted only for the reason that respondent at first wanted to....
July 27, 2023 Case Laws GST

Violation of the principles of natural justice (audi alteram partem) - When the statute itself provides that a hearing is required to be given to the person against whom....
July 27, 2023 Case Laws GST

Validity of rejection of appeal due to non supply of certified copy of the order - defective appeal - the appellate authority has to intimate the applicant with regard......
July 27, 2023 Case Laws Income Tax

Compounding of offences - compounding application rejected due to delay in filing the application - just because the first application was rejected for default, does not....
July 27, 2023 Case Laws Income Tax

Estimation of gross profit - Unexplained expenditure u/s 69C - authorities below have not accepted books results and have estimated the profit - Merely because there is.....
July 27, 2023 Case Laws Income Tax

Applicability of higher rate of tax u/s 115BBE - The contention that excess cash could be treated as business income rejected. - The action of the lower-authorities in......
July 27, 2023 Case Laws Income Tax

Accrual of interest expenditure / income - CIT(A) deleted the disallowance u/s 36(1)(iii) - Where there is no certainty of collection, revenue cannot be said to be......
July 27, 2023 Case Laws Income Tax

Addition u/s 271AAB - assessee has disclosed the income after the search - in the assessment order penalty was initiated for the marriage expenses of the son for which......
July 27, 2023 Case Laws Income Tax

Deduction u/s 80IA(4) - whether assessee is not a contractor, but developer of infrastructure facilities? - we have analyzed one contract/agreement with the government......
July 27, 2023 Case Laws Income Tax

Enhancement of income made by CIT(A) u/s 251(1) - valuation of shares - Rule 11UA(2)(b) - Discounted Cash Flow Method (DCF) - the CIT(A) have committed an error in......
July 27, 2023 Case Laws Income Tax

Addition u/s 68 - accommodation entry receipts - The investors are corporate entities duly assessed to tax and have made investment through banking channel from their......
July 27, 2023 Case Laws Income Tax

TDS u/s 194C - payments to several vendors in relation to its procurements from them, consisting of apparels/ clothes/ footwear/ goods manufactured by these vendors -......
July 27, 2023 Case Laws Income Tax

Rectification u/s 154 - Modification of order more than 10-year-old order - The interest u/s 234B and u/s 234C has not been charged while issuing the intimation and the.....
July 27, 2023 Case Laws Customs

Revenue appeal - Question of law or facts - Drawback claim - If there is violation of the principles of natural justice, the court can interfere. If there is an error of....
July 27, 2023 Case Laws Customs

Levy of Penalty - diversion of gold - Bin handler to keep the gold in safe custody - The allegation in the show-cause notice is that as the importer could not fulfill......
July 27, 2023 Case Laws Customs

Exemption from Customs Duty - high density polyethylene granules - Ican be seen that the product is high density polyethylene and it consists of 98% ethylene by weight......

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F: Transfer of ITC without filing ITC-02

F: assessment order

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

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

F: ITC Issue in case of Acqusition of Company in Insolvency

H: Goods matched documents like e-way bill and invoices; detention order ...

H: Goods Inspection Matches E-Way Bill, Lack of Tax Evasion Intent Quashe...

H: Income tax reassessment validity: AO initiated proceedings u/s 147 ins...

H: Reassessment Rules Interpretation: Taxpayer Wins Over Accommodation En...

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...

H: Microphone Tech Classification: Functionality Over Technology.

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

H: Claim for performance pay not an operational debt under IBC; Multiple ...

A: Director Identification Number

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A: Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on...

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