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Highlights / Annotations / Catch Notes For July of 2024

Home Highlights July July 2024 Year 2024

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Showing 301 to 350 of 998 Records

1 ....3 4 5 678 9 10 11........ 20

July 24, 2024 Case Laws Money Laundering HC

Property owner's rights upheld. Provisional attachment quashed for lack of notice, violating natural justice. Duty to issue notice before confirming attachment.
July 24, 2024 Case Laws Money Laundering HC

Bail extension denied for knee surgery; court says procedure can be done in custody. Applicant allowed to reschedule & reapply.
July 24, 2024 Case Laws Service Tax AT

Construction services for non-profit edu trusts exempt from service tax as per Board's Circular deeming edu institutions non-commercial.
July 24, 2024 Case Laws Indian Laws SC

Builder forfeited right to file statement, but could argue legal points. No new grounds/inconsistent pleadings allowed. No error found.
July 24, 2024 Case Laws Indian Laws HC

Failure to provide relied upon docs with show cause notice violates natural justice by denying fair response opportunity. Supplying underlying docs is vital for effective reply.
July 23, 2024 Notifications Customs

Critical minerals exempted from customs duty & surcharge. Concessional 2.5% duty on graphite, quartz & silicon dioxide.
July 23, 2024 Notifications Customs

Revising Health Cess on certain items, exercising powers u/s 25(1) of Customs Act & Section 141 of Finance Act. Amending previous notification.
July 23, 2024 Notifications Customs

Customs duty exemptions extended till Mar'29 for some electronics. New items added to exemption list. 15% duty on PCB assemblies, chargers & mobiles.
July 23, 2024 Notifications Customs

Reduced rates for imported gold, silver & platinum under specific schemes from 9.35% to 4.35% effective 24/07/2024.
July 23, 2024 Notifications Customs

Govt revises Agriculture Infrastructure & Development Cess (AIDC) on precious metals & other items. Rates reduced substantially.
July 23, 2024 Notifications Customs

Duty-free import of commercial samples: value limit hiked from Rs. 1L to Rs. 3L/consignment. Effective 24/07/2024.
July 23, 2024 Notifications Customs

Customs rules amended for new exporters' subsidy review. Provisional assessment, guarantees allowed. Retrospective duty possible.
July 23, 2024 News GST

CSD to file GST refund applications sequentially on portal. Upload invoices, bank details. Preview before submission. NIL claim if no refund.
July 23, 2024 News Budget

3 schemes: 1-month wage for new workforce, incentives for manufacturing jobs & EPFO contribution reimbursement for 2 years.
July 23, 2024 News Budget

GST simplified tax, reduced burden on common man & logistics cost. Facilitated trade with amendments like liquor exemption & regularization.
July 23, 2024 News Budget

Income Tax reforms: Simplification, digitalization, dispute resolution scheme. TDS rationalization, higher appeal limits. STT hike, buyback tax.
July 23, 2024 News Budget

Capital gains tax: 20% on short-term gains, 12.5% on long-term gains. Higher exemption limit for long-term gains on financial assets.
July 23, 2024 News Budget

Customs reforms boost manufacturing, value addition, exports & simplify taxation. Exemptions for minerals, drugs, key sectors. Duty cuts for mobiles, chargers & renewable energy.
July 23, 2024 News Budget

Income tax relief for salaried & pensioners under new regime. Higher std deduction & family pension deduction. Revised tax slabs.
July 23, 2024 News Bill

Union Budget 2024: Finance (No.2) Act, Budget Speech, Economic Survey highlights & news.
July 23, 2024 Case Laws GST HC

Order u/s 74(9) post taxpayer's demise unenforceable. SCN issued, reply filed. Hearing on 7/2/24. 13/3/24 order set aside.
July 23, 2024 Case Laws GST HC

HC held GST dept can't deny refund on inverted duty citing SC's Kusum Ingots ratio. Impugned order set aside, fresh order for refund in 3 months.
July 23, 2024 Case Laws GST HC

Petitioner's contentions disregarded, GSTR mismatch unaddressed. Flawed order on ITC, classification. Opportunity for hearing ordered.
July 23, 2024 Case Laws GST HC

Lack of ASMT-10 notice invalidated scrutiny, not adjudication. Petitioner's silence confirmed tax demand. Chance to contest merits granted on 10% deposit.
July 23, 2024 Case Laws GST HC

Order upholding quashing of penalty for goods transport upheld. Seizure allowed only if documents not genuine under Act. Documents genuine.
July 23, 2024 Case Laws GST HC

Petitioner can file representation to Additional Chief Secretary on tax liability for govt contracts pre/post GST within 4 weeks. Decision in 4 months.
July 23, 2024 Case Laws GST HC

Expats' service tax on salaries & perks under manpower supply agency: Petitioners get time till 15.01.2024 to respond. No coercive recovery if adverse order.
July 23, 2024 Case Laws GST AAAR

Transit fee paid to Forest Dept. for coal movement not exempt under GST. Continuous service exceeding Rs. 5000/yr, ineligible for exemption.
July 23, 2024 Case Laws Income Tax HC

AO reassessed on seized docs, dictated by superiors, no independence, bias. HC upheld ITAT: order on dictation, delay beyond limitation.
July 23, 2024 Case Laws Income Tax HC

Income from commodity transactions disclosed; reopening of assessment invalid. Lack of factual basis & non-application of mind by Revenue.
July 23, 2024 Case Laws Income Tax HC

Expenditure on power, fuel & hired machines treated as capital expenditure for cement unit by ITAT, contrary to Revenue.
July 23, 2024 Case Laws Income Tax HC

Interest can't be charged post-CIRP if amount frozen by IBC moratorium & not in approved plan. Excluded claims extinguished.
July 23, 2024 Case Laws Income Tax AT

Domestic company paid higher DDT on dividends to Mauritius holding co. instead of lower DTAA rate. Claimed refund but failed to show Mauritius extended treaty protection. Appeals dismissed.
July 23, 2024 Case Laws Income Tax AT

Expenditure disallowed for bogus transactions, but financial charges allowed for genuine business. Order of CIT(A) sustained.
July 23, 2024 Case Laws Income Tax AT

Delayed PF & ESIC payment addition upheld in 143(1) intimation, Checkmate case inapplicable. Limitation not breached. Adjustment valid despite email non-receipt. (1)
July 23, 2024 Case Laws Income Tax AT

Approval u/s 153D must reflect due diligence, not mere formality. Scrutiny of seized docs mandatory. Safeguard against arbitrary assessment.
July 23, 2024 Case Laws Income Tax AT

Assessment order invalid, notice u/s 153C mandatory post-search. 6-year period from seizure date. Assessee's grounds allowed.
July 23, 2024 Case Laws Income Tax AT

Improper invocation of reassessment proceedings u/s 147 sans jurisdiction, as per precedents. Revenue failed to prove error.
July 23, 2024 Case Laws Income Tax AT

Bogus purchases reopening upheld; money laundering suspected. 6% income estimation sustained. Unexplained loans deleted; recorded in books. Penny stock losses allowed; from disclosed bank accounts.
July 23, 2024 Case Laws Income Tax AT

Interest income earned by a co-op society from deposits with another co-op bank is tax-deductible u/s 80P(2)(d). However, excess gratuity fund contribution is rightly disallowed.
July 23, 2024 Case Laws Income Tax AT

Profit set off against business loss & unabsorbed depreciation, no taxable income. Reopening futile after SC ruling. Revision quashed.
July 23, 2024 Case Laws Income Tax AT

Deductor's failure to deposit TDS can't deny credit to assessee. Declared income, no discrepancy found.
July 23, 2024 Case Laws Income Tax AT

Cash deposits during demonetization; nexus with disclosed sales established. No double addition if already assessed u/s 44AD.
July 23, 2024 Case Laws Income Tax AT

Transfer pricing adjustments & benchmarking required for quasi-equity transactions. Lease accounting differs for operating & finance leases. ESOP expenses deductible.
July 23, 2024 Case Laws Income Tax AT

Non-profit's 12A & 80G registrations cancelled citing loan default, TDS delays, PF lapses, GST dues. Tribunal set aside 12A cancellation. Approvals directed to be granted.
July 23, 2024 Case Laws Customs HC

Court: Quasi-judicial bodies must record reasons; vital contentions overlooked. Order set aside on Rs. 1.75 cr deposit; fresh order after hearing.
July 23, 2024 Case Laws Customs HC

Penalty for export violation quashed due to lack of show cause notice & hearing, violating natural justice principles.
July 23, 2024 Case Laws Customs AT

Importer paid duty on apples via scrips, later paid cash+interest. No fraud/evasion proven. Penalty set aside. Goods not confiscatable.
July 23, 2024 Case Laws Customs AT

Importers penalized for undervaluation & duty evasion racket. Forensic evidence exposed malpractice. Failed to justify waiver. Penalties upheld.
July 23, 2024 Case Laws Service Tax AT

Tour operator service requires planning, scheduling tours; standalone hotel booking not covered. Hotel service taxable from 01.05.2011; prior exemption & double taxation avoidance discussed.

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