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Highlights / Annotations / Catch Notes For July of 2024

Home Highlights July July 2024 Year 2024

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Showing 651 to 700 of 998 Records

1 ....10 11 12 131415 16 17 18........ 20

July 11, 2024 Case Laws Income Tax AT

Power transfer pricing: Market value based on State Electricity Board rates for industrial consumers, not generator-distributor rates.
July 11, 2024 Case Laws Income Tax AT

Inflated expenses in revised return disallowed, penalty imposed under 271(1)(c) despite disclosure. Delayed contribution penalty dropped.
July 11, 2024 Case Laws Income Tax AT

Revision u/s 263 invalid due to DVO's failure to provide opportunity of being heard & report beyond statutory time limit u/s 142A(6).
July 11, 2024 Case Laws Income Tax AT

Assignment of contract to JV partner not expenditure, but project execution cost. No profit element. CIT(A) order accepted. Losses allowed.
July 11, 2024 Case Laws Income Tax AT

Belated GST payment after due date of filing return - disallowance u/s 43B. ITR filed u/s 139(4) can't be treated as filed u/s 139(1) for section 43B.
July 11, 2024 Case Laws Customs AT

Appellant proved gold ownership; Revenue failed to establish smuggling. Hearsay inadmissible without corroboration. Case based on assumptions, not evidence. Penalty set aside.
July 11, 2024 Case Laws Customs AT

Service of SCN for undervaluation before assessment defective. Canon India case: Sec 28 power operative post final assessment. Legally defective notice violates natural justice.
July 11, 2024 Case Laws Customs AT

Transponder, Muxponder, Optical splitter cards classified as 'parts' under CTI 8517 70 90, not 'other communication apparatus' CTI 8517 62 90. #
July 11, 2024 Case Laws Insolvency and Bankruptcy AT

Appellant proved continuous loan defaults by Respondent post IBC suspension. Debt admitted. Default date justified insolvency plea u/s 7. Appeal allowed.
July 11, 2024 Case Laws Money Laundering HC

No crime, no PMLA case. Aiding concealment doesn't need charge in main case. But acquittal kills PMLA proceedings.
July 11, 2024 Case Laws Service Tax HC

Rebate claim rejected for illegally mined sea sand exports. No incentives for crime proceeds. Export incentives only for legitimate exports.
July 11, 2024 Case Laws Service Tax AT

Service tax exemption for UN agencies & edu. institutes upheld. J&K, SEZ services remanded for fresh adjudication. Penalties lack evidence. No evasion proved. Interest & penalties recalculated.
July 11, 2024 Case Laws Central Excise AT

Appellants' pool lifting charges add value, excise duty applicable. Tribunal's Victory Electricals case binding. No penalty sans mens rea.
July 11, 2024 Case Laws Central Excise AT

Copper anode moulds used captively attract excise duty despite marketability. Cost subsumed, double taxation allowed Duty demand upheld, value determined. Penalty cancelled.
July 11, 2024 Case Laws VAT and Sales Tax AT

Inter-state stock transfer of packaged explosives from manufacturing unit to depots not inter-state sale. Sale upon supply to subsidiaries.
July 11, 2024 Case Laws Indian Laws SC

Purchase of goods (CAR) for directors' personal use isn't "commercial purpose" under Consumer Act. Profit nexus key, not self-employment.
July 11, 2024 Case Laws Indian Laws SC

Trial Court didn't determine admissibility of unstamped doc, just prevented abuse. No Stamp Act violation sans judicial ruling.
July 11, 2024 Case Laws Indian Laws HC

Vicarious liability: Directors liable for company's offences under NI Act only if in charge of day-to-day affairs & management.
July 10, 2024 Case Laws GST HC

Writ against SCN & attachment order allowed. SCN not properly uploaded, violating natural justice. 30 days to respond granted. Approach appellate authority permitted. Attachment quashed.
July 10, 2024 Case Laws GST HC

GST registration can't be cancelled for non-response to show cause notice. Allow response on principal place allegation & details of operations.
July 10, 2024 Case Laws GST HC

SCN issued sans reasons for registration cancellation. Authorities lauded for natural justice compliance. Directed to follow HC's 2022 directives.
July 10, 2024 Case Laws GST AAR

Tax credit on rent disallowed - sub judice. Reverse charge on freight inadmissible under Sec 98(2). Input/output set-off query outside Sec 97(2).
July 10, 2024 Case Laws GST AAR

Supply of security services to BBMP not exempt from GST as not related to functions under Articles 243G/243W. Outsourced security services attract GST.
July 10, 2024 Case Laws GST AAR

Pure services to State Govt related to Panchayat functions under Article 243G are GST exempt as per Entry 3 of Notification 12/2017-CTR.
July 10, 2024 Case Laws GST AAR

Employers can recover bonuses/allowances from employees who exit early, as per contract. It's not a taxable service under GST.
July 10, 2024 Case Laws GST AAR

Professional tax filing services for BWSSB don't qualify for exemption as it's not a local authority & services aren't for panchayat/municipality functions.
July 10, 2024 Case Laws GST CCI

Movie ticket prices hiked despite GST cut from 28% to 18%, violating law. Rs. 88.67 lakh profiteered amount not passed to customers. Directed to refund with interest & penalized.
July 10, 2024 Case Laws Income Tax SC

Excise contractors not "buyers" for tax deduction at source under Sec 206C. Distinct transactions for vending rights & retail sale.
July 10, 2024 Case Laws Income Tax HC

Non-resident software payments not royalties, not taxable in India. No TDS obligation under Sec 195. Upholds Engineering Analysis.
July 10, 2024 Case Laws Income Tax HC

Faceless assessment regime u/s 151A bars Jurisdictional AO from issuing notice u/s 148; exclusive jurisdiction to FAO/JAO, not both. Unlawful action by Authority quashed.
July 10, 2024 Case Laws Income Tax HC

Loss & profit from F&O trades not taxable if net effect is nil. No correlation between assessee's transactions & market manipulation.
July 10, 2024 Case Laws Income Tax HC

Settlement applications filed before 31.03.2021 valid despite retrospective amendment. Vested right upheld.
July 10, 2024 Case Laws Income Tax AT

Taxpayer bought 4 flats as single unit, got deduction u/s 54F on capital gains from asset sale for entire cost despite separate IDs.
July 10, 2024 Case Laws Income Tax AT

IBC 2016 prevails over Income Tax Act 1961. Tax authorities can determine dues but can't recover during IBC moratorium.
July 10, 2024 Case Laws Income Tax AT

CIT(A) deleted addition on unaccounted income, accepted retraction of statement, agreed cash payment from surplus, not suppressed sales.
July 10, 2024 Case Laws Income Tax AT

Interest on enhanced compensation is taxable as income from other sources, not capital gains.
July 10, 2024 Case Laws Income Tax AT

Discontinued biz loss disallowed; no revival likelihood. Interest income taxed at 10% as per India-NZ DTAA for NZ residents.
July 10, 2024 Case Laws Income Tax AT

AO erred by disregarding CBDT guidelines on cash deposits up to ₹2.5L. ITAT granted relief based on binding precedents.
July 10, 2024 Case Laws Income Tax AT

Trust's mutual fund investments from corpus allowed. Settlor's accommodation clause infructuous post death. Registration cancellation improper. Actual activities genuine. Order set aside.
July 10, 2024 Case Laws Income Tax AT

Assessee's appeal dismissed; share premium treated as unexplained cash credit under Sec 68 due to accommodation entries.
July 10, 2024 Case Laws Income Tax AT

Assessee valued intangible assets per AS-26, CIT wrongly assumed non-compliance. Tribunal upheld valuation, CIT's jurisdiction flawed.
July 10, 2024 Case Laws Income Tax AT

TPO's interest rate determination flawed. DRP rightly considered future projections & risk for arm's length rate. Final assessment valid.
July 10, 2024 Case Laws Income Tax AT

Daurau Farms LLP partner paid Rs. 30L cash for cows from firm's sales. Revenue doubted, made addition. ITAT accepted explanation, deleted addition.
July 10, 2024 Case Laws Income Tax AT

Flat renovation cost disallowed due to lack of evidence. Bills in unrelated entity's name, unsecured loan advanced. Partial cost allowed based on assessee's bills. Appeal dismissed.
July 10, 2024 Case Laws Customs HC

Commissioner Appeals can't pass order based on quashed order. New facts emerged, should've remanded for fresh consideration.
July 10, 2024 Case Laws Customs AT

Refund of CVD paid on re-import after GST implementation due to system error & insistence, not time-barred. Drawback paid, no duty liability.
July 10, 2024 Case Laws Customs AT

Imported goods valuation: Retail vs bulk packs must be considered. NIDB data alone can't enhance value. Quantities & quality are key.
July 10, 2024 Case Laws Companies Law HC

Delayed filings denied fee waiver. Pay late fees for restoration. Court upholds previous order's condition. No relief beyond granted.
July 10, 2024 Case Laws Service Tax AT

GTA service tax liability on recipient, not provider. Reimbursement expenses not taxable. Order set aside, appeal allowed. Demand time-barred.
July 10, 2024 Case Laws Service Tax AT

Subcontractor services to SEZ units exempt from service tax, regardless of provider's location. Complex laws, debatable issue. Limitation period wrongly invoked, demand set aside.

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