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Highlights / Annotations / Catch Notes For July of 2024

Home Highlights July July 2024 Year 2024

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Showing 951 to 998 of 998 Records

1 ....16 17 18 1920

July 2, 2024 Case Laws Income Tax AT

The Tribunal ruled in favor of AO on certain expenses but found some additions unsustainable. Evidence and admissions supported AO's decision.
July 2, 2024 Case Laws Income Tax AT

Tribunal denies deduction u/s 54F for property not used as residence, despite religious use. No pro-rata deduction allowed.
July 2, 2024 Case Laws Customs HC

Court ruled Sweet Whey powder not duty-free as "Leavening Agent." Expert doubts its role. Appeal dismissed on question of facts.
July 2, 2024 Case Laws Customs HC

High Court ruled on Rs. 1 crore penalty for not meeting export obligations. Petitioner used fake bills. Appeal denied.
July 2, 2024 Case Laws Customs HC

Court ruled against releasing imported gold for export that was diverted to domestic market, citing serious violation.
July 2, 2024 Case Laws Customs AT

Customs Broker License revoked for involvement in fraudulent export activities. Violated Licensing Regulations, failed to act diligently.
July 2, 2024 Case Laws Customs AT

Importers won case on 'inshell walnuts' duty dispute! Tribunal said time limit exceeded, deferment notice not proper, penalties invalid.
July 2, 2024 Case Laws Service Tax AT

In a case about service classification, tribunal ruled no property transfer, so it's Consulting Engineering Service, not Works Contract.
July 2, 2024 Case Laws Service Tax AT

CESTAT ruled "convenience fee" & "cancellation charges" by appellant not taxable. Fees solely for booking air tickets. No penalties imposed.
July 2, 2024 Case Laws Central Excise AT

Appellate Tribunal ruled that printed paper labels are classified under sub-heading 4901.90, exempting them from duty.
July 2, 2024 Case Laws Central Excise AT

EOU using CENVAT Credit for NCCD on Mobile Phones in DTA can now use service tax credit for NCCD payment.
July 1, 2024 Circulars Insolvency and Bankruptcy

Insolvency Pros: File forms electronically for voluntary liquidation process. Timely submission crucial to avoid penalties.
July 1, 2024 Circulars SEZ

New rule allows non-SEZ tech units in SEZs. Guidelines issued 9th April 2024 after Dec 6, 2023 amendment. Cert needed for duty refund proposals.
July 1, 2024 Circulars DGFT

India extends Interest Equalisation Scheme for MSME exporters for 2 months beyond June 30, 2024. Rs. 750 Cr cap. Non-MSME claims not accepted.
July 1, 2024 Circulars SEBI

New rules by SEBI aim to make investing easier! Small investors can now have a Basic Services Demat Account with up to Rs. 10 Lakhs in securities. Charges based on holdings value.
July 1, 2024 Notifications SEBI

New rules by SEBI: Crackdown on fraud and unfair trade practices in the securities market. Watch out for "mule accounts"! Effective from the Official Gazette.
July 1, 2024 Notifications SEBI

SEBI's new rules mandate stock brokers to prevent fraud and market abuse with surveillance, KYC, and whistleblower policies. Reports due within 48 hours.
July 1, 2024 Notifications Customs

The Ministry of Finance updated Sea Cargo rules, extending deadline to 31st August 2024 for old form & reducing monetary amounts to Rs. 5 lakhs for furnishing of Bond and bank guarantee.
July 1, 2024 Notifications Customs

New tariffs value effective June 29, 2024! Changes in values for goods like oils, scrap, nuts, gold, and silver. Stay updated!
July 1, 2024 Case Laws GST HC

High Court rules against seizing goods in transit due to lack of evidence on undervaluation. Revenue Appeal dismissed.
July 1, 2024 Case Laws GST HC

High Court found lack of details in fake invoice claim, orders review of assessment order. Petitioner to pay 20% disputed tax for reconsideration.
July 1, 2024 Case Laws GST HC

Court discussed late appeal filing due to physical re-filing date. Emphasized acknowledgment date's importance. Delay condoned, fresh review ordered.
July 1, 2024 Case Laws GST HC

High Court examined refund claim for GST on healthcare services, emphasizing unjust enrichment principle. Writs under Article 226 discretionary. Alternative remedies available. Petition dismissed.
July 1, 2024 Case Laws GST HC

Court dismisses petition challenging GST levy on Extra Neutral Alcohol for lack of explanation. Opportunity missed to clarify before court challenge.
July 1, 2024 Case Laws GST HC

High Court ruled no intent to evade tax in e-way bill case. Rs. 25,000 penalty imposed. Petitioner wins refund.
July 1, 2024 Case Laws GST HC

High Court rules GST registration can't be canceled arbitrarily. Reasons required for cancellation under GST Act.
July 1, 2024 Case Laws Income Tax AT

ITAT analyzed TP adjustments, excluding companies for functional differences. Working capital adjustment denied, interest calculated with LIBOR rates. Appeal partly allowed.
July 1, 2024 Case Laws Income Tax AT

The Tribunal ruled land sale proceeds as capital gains, not business receipts. Exemption u/s 54F applied for reinvested proceeds in flats.
July 1, 2024 Case Laws Income Tax AT

Levy of penalty against estimated income: ITAT rules penalty invalid due to inconsistent grounds for imposition. Precedents cited. Assessee's appeal allowed.
July 1, 2024 Case Laws Income Tax AT

Appellate Tribunal denied interest expense claim u/s 57(iii) as no direct link to income. Expenditure must be "wholly and exclusively" for earning income.
July 1, 2024 Case Laws Income Tax AT

ITAT said no late fee u/s 234E for old TDS returns! Assessing Officer can't charge late fee for 2012-13 and 2013-14.
July 1, 2024 Case Laws Income Tax AT

The tax tribunal ruled that payments for technical support are not taxable as royalty under India-US tax treaty.
July 1, 2024 Case Laws Income Tax AT

Appellate Tribunal upheld revenue loss due to default in property payment & rejected AO's valuation, dismissing Revenue's appeal.
July 1, 2024 Case Laws Income Tax AT

Appellate Tribunal overturns CIT(A) decision due to missed notices. Assessee gets chance to present case with evidence. Update contact info within 60 days.
July 1, 2024 Case Laws Income Tax AT

TP Adjustment - ITAT upheld cost allocation using 'headcount' for support services. Pricing at Arm's Length. No adjustments made for consistency.
July 1, 2024 Case Laws Income Tax AT

ITAT addressed undisclosed income, flat investment, and gold futures. Pending appeals reviewed. Evidence crucial for rebuttal.
July 1, 2024 Case Laws Income Tax AT

Appellate Tribunal upholds Income Tax Addition for unexplained cash credits. Lack of proof on individuals' investments led to the decision.
July 1, 2024 Case Laws Income Tax AT

The court allowed appeal despite 1100-day delay due to practitioner's misunderstanding. Justice prevails as ex-parte order set aside.
July 1, 2024 Case Laws Income Tax AT

ITAT rectified intimation denial for Form 10BB. Appellant's return deemed invalid, taxed without exemption. Ruling favors appellant citing court judgment.
July 1, 2024 Case Laws Customs AT

CESTAT overturned decision on Customs Broker's license revocation, security deposit forfeiture, and penalty imposition.
July 1, 2024 Case Laws Customs AT

Imported marble slabs underpriced, faced fines. Appeals Commissioner lessened penalty due to unintentional error. Tribunal reduced fines further, citing past cases.
July 1, 2024 Case Laws Customs AT

Dispute over imported goods value resolved by Tribunal. Declared value accepted after engineer examination. Customs must justify deviations.
July 1, 2024 Case Laws Customs AT

SEZ unit: Appellant challenges customs values, wins appeal due to lack of communication & violation of justice principles.
July 1, 2024 Case Laws Insolvency and Bankruptcy Tri

Tribunal ruled against personal insolvency for guarantor due to forum shopping. Clean hands required.
July 1, 2024 Case Laws Service Tax AT

The tribunal ruled in favor of appellants on service tax issues. Collection for Visa/Passport not taxable. Charges retained not taxable. Trade margin not taxable. No proven failure to deposit.
July 1, 2024 Case Laws Central Excise AT

In a tax refund case, the CESTAT ruled interest should start from deposit date, not later.
July 1, 2024 Case Laws Central Excise AT

PVC flooring for railways classified under chapter 86 for exemption. Tribunal upholds appellant's classification.
July 1, 2024 Case Laws VAT and Sales Tax HC

High Court reviewed interest levy challenge under AGST Act. No tax collection from consumers, no interest warranted.

1 ....16 17 18 1920

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