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Highlights / Annotations / Catch Notes For July of 2024

Home Highlights July July 2024 Year 2024

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Showing 251 to 300 of 998 Records

1 ....2 3 4 567 8 9 10........ 20

July 25, 2024 Circulars Customs

Bank account attachment requires officer's opinion, reasons, service, Commissioner's approval. 6 months max, extendable after hearing. Specify duration, address order. Release communication mandatory.
July 25, 2024 Circulars DGFT

Export obligation fulfilled by quantity, no penalty if minimum value addition met. Value addition shortfall? Pay 1% FOB online via DGFT site.
July 25, 2024 Case Laws GST HC

Paid IGST instead of CGST+SGST? Approach appellate authority for relief from penalty & interest if bona fide mistake.
July 25, 2024 Case Laws GST HC

GST registration cancellation without reasons violated natural justice. Cryptic notice failed to specify violations, unreasoned order didn't disclose grounds. Set aside for lack of reasons.
July 25, 2024 Case Laws GST HC

GST registration cancellation notice challenged for unspecified allegations. Court: Though notice lacked details, clarified later. Reissuing notice unnecessary. Respond to clarified allegations.
July 25, 2024 Case Laws GST HC

Circular No.9 upheld; no need for notification to authorize adjudication power under Sec 2(91). Assessing authority's dual role valid.
July 25, 2024 Case Laws GST AAAR

Car lease facility by employer is taxable if exact amount is recovered from employees' salaries as it's a supply of service.
July 25, 2024 Case Laws GST AAR

Input tax credit for women's transport facility eligible u/s 16, CGST Act, 2017. ITC allowed on tax paid for services 8 PM-6 AM as per TN notification.
July 25, 2024 Case Laws GST AAR

R&D services for insecticide-infused mosquito nets not exempt from GST. Services distinct from pharma R&D.
July 25, 2024 Case Laws GST AAR

FAO UN grant not a supply under GST Act. Grant received gratuitously, not for goods/services. Activities using grant not taxable supply. No GST payable.
July 25, 2024 Case Laws Income Tax HC

Computer software payments not taxable as royalty in India. Amounts paid for resale/use not royalty income. No TDS liability.
July 25, 2024 Case Laws Income Tax HC

Deduction for housing projects approved before 31st March allowed based on approved plans, excluding built-up area concept retrospectively.
July 25, 2024 Case Laws Income Tax AT

Tribunal: AO failed to justify rejecting startup's exemption claim under 56(2)(viib). CIT(A) endorsed AO's reasoning sans addressing exemption claim. Remanded for fresh adjudication.
July 25, 2024 Case Laws Income Tax AT

Business advances sans interest permissible if capital suffices. Market conditions dictate business plans' viability. Consequential expenses allowed.
July 25, 2024 Case Laws Income Tax AT

AO failed to inquire alleged bogus LTCG, not examining bankers, brokers, Demat agencies, source of funds, synchronized trades.
July 25, 2024 Case Laws Income Tax AT

Tribunal quashed notice & proceedings for exceeding time limit u/s 149, despite amendment, favoring assessee's case.
July 25, 2024 Case Laws Income Tax AT

Assessing Officer exceeded jurisdiction by disallowing claim of unabsorbed depreciation through rectification u/s 154, as CIT(A) didn't direct such disallowance.
July 25, 2024 Case Laws Income Tax AT

Unverified third-party info can't justify disallowance. Assessee's documents substantiated purchases. Opportunity for cross-examination a must.
July 25, 2024 Case Laws Customs SC

Confiscated goods redemption u/s 125 attracts customs duty & interest on delayed payment u/ss 28AB & 28 respectively.
July 25, 2024 Case Laws Companies Law HC

7000 equity shares transfer blocked. 4000 shares certificates & deeds possessed. Consideration payment disputed. Timeline discrepancy alleged.
July 25, 2024 Case Laws Companies Law HC

Company liquidation closed due to lack of assets. Liquidator exempted from publication, allowed to close books after expenses.
July 25, 2024 Case Laws Indian Laws HC

Insufficient funds cheque dishonor: No vicarious liability if not partner/signatory. Unsubstantiated averment trial is abuse of process.
July 25, 2024 Case Laws Indian Laws HC

CMM can take secured asset possession within jurisdiction. Impugned order outside limits void. Approach DRT u/s 17 for creditor enforcement.
July 25, 2024 Case Laws Indian Laws HC

Cheque dishonor case dismissed due to lack of petitioner's signature, despite joint account. Vicarious liability not established.
July 24, 2024 Case Laws GST HC

Violation of natural justice - notices on GST Portal led to unawareness. Case remitted for fresh order after depositing 10% tax. Impugned order quashed.
July 24, 2024 Case Laws GST HC

Excess stock found during survey can't initiate proceedings u/s 130 of UPGST Act. Tax liability to be determined u/s 35(6) & 74.
July 24, 2024 Case Laws GST HC

GST refund claim filed within time limit as period from Mar'20-Feb'22 excluded based on GST Council's recommendations. Order set aside.
July 24, 2024 Case Laws GST HC

Petitioner challenged GST notices for not generating e-invoices during PETN explosives transfer. Court: Pay penalty, exemption needs examination. Directed adjudication conclusion.
July 24, 2024 Case Laws GST HC

Discount eligibility hinges on invoice recording or prior agreement. Supplier liable for full tax sans proof.
July 24, 2024 Case Laws GST HC

Order quashed for lack of natural justice. Tax demand remanded. Petitioner to pay 10% & reply. Monitor GST portal.
July 24, 2024 Case Laws GST HC

Petition maintainable despite alternative remedy. Order appealable. Govt issued clarification on appeal due to non-constitution of Tribunal. HC disposed writ petition.
July 24, 2024 Case Laws GST AAR

Ruling: KSTP status not covered. Govt contractor's road/bridge works for public use taxable 12% till 17.07.2022, 18% after. KSTP is Kerala PWD wing.
July 24, 2024 Case Laws GST AAR

KLDC, a govt undertaking, classified as "Governmental Entity", subject to 18% GST for works executed 01.01.2022-17.07.2022 as per SGST Circular.
July 24, 2024 Case Laws Income Tax HC

Notices by JAO u/s 148 invalid after Finance Act 2021. Faceless assessment mandatory from notice stage. Circulars can't override statutes.
July 24, 2024 Case Laws Income Tax HC

Guest-house expenses disallowed, food/beverage=entertainment. 50% dealer conference allowed. Presentation articles=ad expense.
July 24, 2024 Case Laws Income Tax HC

High Court bars reassessment notices issued after April 1, 2021, under old provisions. Follows Supreme Court's Ashish Agarwal case.
July 24, 2024 Case Laws Income Tax AT

Undisclosed receipts added to profit, assessee claimed corresponding expenditure. CIT(A) deleted addition as double assessment, ITAT upheld.
July 24, 2024 Case Laws Income Tax AT

Long-term capital gain exemption denied for not depositing unutilized sale proceeds, construction delay & multiple properties.
July 24, 2024 Case Laws Income Tax AT

Lower tax rate option once exercised applies to subsequent years. Cannot be withdrawn for same/previous years. Validly opted for AY 2020-21.
July 24, 2024 Case Laws Income Tax AT

Deduction denied for income from shop sale, as not owned/operated as multiplex part. Lost ownership/control over integral shop. Previous year's treatment irrelevant.
July 24, 2024 Case Laws Income Tax AT

Reassessment notice invalid due to lack of jurisdiction. ACIT lacked pecuniary jurisdiction. Defect incurable u/s 292BB.
July 24, 2024 Case Laws Income Tax AT

Development pact doesn't trigger capital gain tax in year of agreement; taxable when built area transferred. Rental income & loans from kin accepted. Rs. 90k unexplained, taxable. Relief granted.
July 24, 2024 Case Laws Income Tax AT

Trust denied tax exemption due to undisclosed income, bogus donations, staff salary recovery & fraud. Violated Sections 13(1)(c)&(d).
July 24, 2024 Case Laws Income Tax AT

TP adjustment on guarantee fees paid to AE deleted as borrowing cost+fee<bank rate. Economic rationale upheld.
July 24, 2024 Case Laws Income Tax AT

Tribunal accepted purchases, GST payments, and expenses. CIT(A) erred in applying profit rate, defying logic. Assessee discharged onus with evidence.
July 24, 2024 Case Laws Customs HC

Bail granted in e-cig import case. Applicant not directly involved. Evidence weak. Released on bail with conditions.
July 24, 2024 Case Laws Customs HC

Fraudulent IGST refund, drawback benefits violate Regulation 10(n). Suspension permissible during probe, not penalty. Reliance on DGFT, GST docs valid. CESTAT erred.
July 24, 2024 Case Laws Insolvency and Bankruptcy AT

During CIRP, RP liable for pending payments like maintenance, electricity as per IBC & RERA. CoC decisions on dues recovery paramount.
July 24, 2024 Case Laws Money Laundering SC

Judges must be cautious in staying bail orders, as it curtails liberty. Stays should be rare & exceptional, not ex parte or mechanical.
July 24, 2024 Case Laws Money Laundering HC

Sec 50 PMLA upheld, not violating Art 14, 20, 21 & Sec 132 Evidence Act. Accused admitted paying crores for favors, is money laundering.

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