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Highlights / Annotations / Catch Notes For July of 2024

Home Highlights July July 2024 Year 2024

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Showing 201 to 250 of 998 Records

1 2 3 456 7 8 9........ 20

July 27, 2024 Case Laws Customs HC

Roasted areca nuts classified under CTH 2008 19 20, not CTH 08 02 80; specific entry prevails over general entry.
July 27, 2024 Case Laws Customs AT

Imported tyres: Provisional release ordered due to lack of technical analysis. Classification based on import parameters, not end-use. Customs can't assume transport authority role.
July 27, 2024 Case Laws Companies Law HC

Company dissolved after liquidation due to lack of funds/inability to continue. Remaining balance transferred to Common Pool Fund.
July 27, 2024 Case Laws Insolvency and Bankruptcy AT

Wilful defaulter can't misuse IBC to evade debt; unclean hands disentitle Sec 10 relief. Stalling tactics, selective reprieve bid negate resolution objective.
July 27, 2024 Case Laws FEMA HC

Show cause notice issued by competent authority (Additional Director) valid in Rs.11.27 crore FEMA case as per pecuniary limits. Transfer from Special Director valid.
July 27, 2024 Case Laws Service Tax AT

Tax evasion by suppressing service value in returns. Dept relied on TDS data. Non-cooperation led to extended period invocation & penalties.
July 27, 2024 Case Laws Central Excise AT

CENVAT credit allowed on ISD invoices sans prescribed details; splitting tax permissible. Credit distribution to units okayed as per HC ruling. Demand & penalty set aside.
July 27, 2024 Case Laws VAT and Sales Tax HC

Secured creditor's priority charge upheld over dues. Precedent grants priority over taxes. Bank claim registered earlier. Tax authority can recover from debtor.
July 27, 2024 Case Laws Indian Laws SC

Dishonour of cheque: SC upholds strict interpretation of "drawer" as cheque issuer, excluding authorized signatories from primary liability.
July 27, 2024 Case Laws Indian Laws SC

Permanent injunction for outstanding storage charges allowed. Separate suit maintainable for distinct causes of action like damages.
July 27, 2024 Case Laws Indian Laws HC

Writ against SARFAESI notices rejected; new contract superseded old restructuring letter. SC precedents followed.
July 26, 2024 Case Laws Income Tax AT

Depreciation on non-compete fees allowed. Divergent HC views. Supreme Court to decide. Penalty u/s 271(1)(c) can't be imposed.
July 26, 2024 Case Laws GST HC

Goods detained due to technical error in E-Tax Invoice generation, despite compliance. No discrepancy found. Mere human error. Proceedings unjustified without mens rea.
July 26, 2024 Case Laws GST HC

GST registration cancelled retrospectively without reasons, violating natural justice. Cancellation order set aside. Proper officer's power not arbitrary.
July 26, 2024 Case Laws GST HC

Non-receipt of show cause notice violated natural justice. Order set aside, fresh hearing ordered. Authorities must provide all documents within 2 weeks.
July 26, 2024 Case Laws GST HC

GST authorities redesigned portal, but issued notice before change. Court allows petition, sets aside order & remands for fresh review.
July 26, 2024 Case Laws GST HC

Petitioner's GST registration cancellation challenged. Court ordered verification of additional business place within 3 weeks for restoration.
July 26, 2024 Case Laws GST HC

Cancellation of GST registration quashed due to lack of reasoning, violation of natural justice. Constitutional remedy available despite time-bar.
July 26, 2024 Case Laws Income Tax HC

Assessment order deemed complete only upon communication, not mere signing. Order unpronounced/unpublished ineffective.
July 26, 2024 Case Laws Income Tax HC

Agricultural land exemption restricted to rural areas. "Urban agricultural land" under "capital asset". MAT can't include exempt agri income.
July 26, 2024 Case Laws Income Tax HC

High Court quashed reassessment notice beyond limitation & notice by Joint AO outside faceless scheme as illegal.
July 26, 2024 Case Laws Income Tax HC

Mentality of tax evasion, non-cooperation for 20 years, wilful default. Compounding rejected as belated after conviction. Paying dues /= compounding.
July 26, 2024 Case Laws Income Tax HC

Writ allows submitting grievance petition on arrears adjustments. Assessing officer to consider petition, grant hearing & dispose within 2 months.
July 26, 2024 Case Laws Income Tax HC

Appellate authority to hear appeal promptly. Recovery proceedings against appellant to be kept on hold until appeal disposal or stay.
July 26, 2024 Case Laws Income Tax AT

LTCG deductions u/s 54B allowed if capital gain utilized for new asset before filing return u/s 139(4). Investment made till filing date eligible.
July 26, 2024 Case Laws Income Tax AT

Flat allotment surrender = capital loss, not income; 'Right to acquire' = capital asset; Sec 50C/56(2)(X) inapplicable; Voluntary claim withdrawal pre-AO confrontation = no penalty.
July 26, 2024 Case Laws Income Tax AT

Funds remitted from HK to NRE account with FIRC evidence. Tribunal: Source outside India proved, no Indian income/business link. AO's addition deleted.
July 26, 2024 Case Laws Income Tax AT

Addition limited to parties in WhatsApp chat. GP 8.60% on undisclosed sales Rs. 26,58,600 & Rs. 6,11,043. Partial relief on undisclosed sales.
July 26, 2024 Case Laws Income Tax AT

Short-term capital gains from share trading rightly taxed as business income. Investment claim rejected due to separate account, delivery-based transactions & prior acceptance of capital gains.
July 26, 2024 Case Laws Income Tax AT

Delay of 1154 days in filing appeal not condoned. Reasons like leaving tax matters to CA, ignorance & busy with agriculture/household not "sufficient cause". Casual approach won't suffice.
July 26, 2024 Case Laws Income Tax AT

Tax residency upheld for Mauritius company; control, management in Mauritius. Eligible for Indo-Mauritius tax treaty benefit.
July 26, 2024 Case Laws Income Tax AT

Unexplained income treated as advances rightly deleted; loan amounts recorded, supported by evidence. Assessee not owner of unrecorded assets. Double addition rightly deleted by CIT(A).
July 26, 2024 Case Laws Income Tax AT

Addition on estimated turnover after rejecting books; notices to verify purchases unserved. Penalty deleted as addition was estimate-based.
July 26, 2024 Case Laws Income Tax AT

Premium on redemption of privately placed NCDs is interest income, not capital gains. Long-term capital loss set-off restored. No perquisite on flat purchase.
July 26, 2024 Case Laws Customs AT

IGST exemption under EPCG Scheme rejected wrongly. Demands of duty, confiscation, penalties set aside as premature before license expiry.
July 26, 2024 Case Laws Customs AT

Appellant failed to advise client on SCOMET export authorization, wrongly relied on declaration. Penalty upheld, revocation set aside.
July 26, 2024 Case Laws Customs AT

Imported 'Color Toner Black' excluded from anti-dumping duty on 'black toner powder' as color toners comprise CMYK colors.
July 26, 2024 Case Laws Companies Law HC

Investors failed to provide FEMA certificate, delaying refund under 'buy-back' clause. Despite deposit, non-compliance waived claim rights. Funds to be used for creditors' claims instead.
July 26, 2024 Case Laws Companies Law HC

ROC can strike off companies from register under old & new Companies Acts. New Act has detailed procedure & remedy for deregistration.
July 26, 2024 Case Laws Companies Law HC

Peaceful vacant possession granted to applicant from Official Liquidator. Objector's rights terminated upon sub-lease termination. Leave granted to disclaim property.
July 26, 2024 Case Laws Companies Law HC

Court ordered company dissolution, discharged Liquidator u/s 481 as winding up couldn't proceed. Relied on Meghal Homes case.
July 26, 2024 Case Laws Insolvency and Bankruptcy AT

Impleadment allowed sans prior notice; court's discretion. Appellant's contention rejected. Appeal dismissed for lack of merits.
July 26, 2024 Case Laws Insolvency and Bankruptcy AT

Doctrine of necessity invoked to grant chance to deposit balance & avoid liquidation, enabling Corporate Debtor revival.
July 26, 2024 Case Laws FEMA HC

Writ petition against FEMA penalty dismissed due to statutory remedies. No immunity from adjudication pre-insolvency. No breach of rights/natural justice. Authority empowered to penalize.
July 26, 2024 Case Laws Central Excise AT

Penalty u/r 26(2) quashed; appellant vindicated. Invoices valid, goods received, duty paid.
July 26, 2024 Case Laws Indian Laws HC

Cheque dishonor case: Summons issued. Scope of Sec 138 & 482 CrPC examined. Disputed facts, outstanding dues, security cheques.
July 26, 2024 Case Laws Indian Laws HC

Appeal against arbitrator's decision on liquidated damages dismissed. Legal injury must be proved for both types of damages.
July 26, 2024 Case Laws Indian Laws HC

Courts reluctant to quash cases with substantial compliance. No mini-trial u/s 482 CrPC. Allegations proved at trial.
July 25, 2024 Circulars DGFT

Verify e-docs like licenses, certificates via UDIN on DGFT site. Key UDIN to download e-copy & cross-check paper copy.
July 25, 2024 Circulars Customs

Exemptions on imports for R&D, manufacturing, renewables, exports. Concessional duties on artwork, samples. Extension of exemptions till 2026. Some exemptions to lapse in 2024.

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N: Seeks to rescind Notification No. 08/2022-Central Excise dated 30th Ju...

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H: Authorities denied personal hearing despite request, order quashed.

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H: Quashed penalty for transporting goods after e-way bill expiry; proced...

H: High Court quashes penalty order for not generating e-invoices; direct...

H: Freight forwarder wins case against govt, gets refund of unconstitutio...

H: Popular flour mixes with spices & ingredients classified differently, ...

H: Customs penalties overturned due to denial of cross-examination, inadm...

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H: Tax reopening quashed, AO's reasons cryptic & lacking nexus for belief...

H: Tax dispute settled under Vivad se Vishwas Act despite minor delay in ...

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