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Highlights / Annotations / Catch Notes For August of 2020

Home Highlights August August 2020 Year 2020

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Showing 1 to 50 of 336 Records

12 3 4 5........ 7

August 31, 2020 Circulars Income Tax

Banks are advised to immediately refund the charges collected, if any, on or after 1st January 2020 on transactions carried out using the electronic modes prescribed u/s....
August 31, 2020 Case Laws Income Tax

Income from House Property - Payment made to Mumbai Port Trust claimed by assessee u/s 23 - the term local authority cannot be rigidly interpreted to mean only a local......
August 31, 2020 Case Laws Income Tax

TDS u/s 195 - Disallowance of Project Specific Costs u/s 40(a)(i) - There cannot be a retrospective obligation to deduct tax at source and therefore as on the date when.....
August 31, 2020 Case Laws Income Tax

Deduction of tax at Source (TDS) - any income derived by them is taxable only in their country of residence and not in India. Therefore, the Treaty provisions being more....
August 31, 2020 Case Laws Income Tax

Deemed dividend u/s 2(22)(e) - loan advanced by the company - Ultimate beneficiary of a part of loan advanced by M/s. Maplewood Trading Pvt. Ltd. is either the assessee.....
August 31, 2020 Case Laws Income Tax

MAT computation - Valuation of assets on amalgamation - determining book profit - Since, the capital reserve is out of purview of Section 115JB, and the “Revaluation......
August 31, 2020 Case Laws Insolvency and Bankruptcy

Whether an advance amount for supply of goods can be considered as an Operational Debt under Section 5(20) of the I&B Code? - the advance amount paid by the Respondent......
August 31, 2020 Case Laws Service Tax

Valuation - Supply of tangible goods service - Supply of piped natural gas - inclusion of charges collected for supply of pipes and measuring equipment to its customers.....
August 31, 2020 Case Laws Service Tax

Amnesty Scheme - SVLDRS - CENVAT Credit on input services - In fact, in order to ensure that the Designated Committee does not dispute the tax through input credit, a......
August 31, 2020 Case Laws Service Tax

CENVAT Credit - input services, value of which not included in value of output services - As the receipts excluded from computation of assessable value are not......
August 31, 2020 Case Laws VAT and Sales Tax

Once the appellate authority comes to the conclusion that there was a bona fide belief of the assessee then an absolute relief should have been granted. Granting a......
August 31, 2020 Case Laws VAT and Sales Tax

Levy of penalty u/s 10-A read with Section 10(b) of CST Act - The learned Appellate Tribunal was justified in holding that the Assessee was entitled to purchase the said....
August 31, 2020 Case Laws VAT and Sales Tax

Levy of penalty u/s 10A of the Central Sales Tax Act, 1956 - allegation of improper procurement of Low sulphur Heavy Stock Furnace Oil from oil companies against C - it.....
August 29, 2020 Case Laws GST

Classification of goods - applicable rate of tax - Printing and supply of Security Excise Adhesive Labels - the product in question is classified under the Heading 4911.....
August 29, 2020 Case Laws GST

Profiteering - purchase of flat - whether there was any additional benefit of ITC with the introduction of GST availed by the Respondent or not. - This case does not......
August 29, 2020 Case Laws GST

Profiteering - supply of “Services by way of admission to exhibition of cinematograph films” - allegation that the benefit of reduction in the rate of tax not passed on.....
August 29, 2020 Case Laws Income Tax

Jurisdiction of AAR to decide an issue because of non-existence of “Jurisdictional Fact” u/s 245R(2) - Issue was already pending - a question cannot be said to be......
August 29, 2020 Case Laws Income Tax

Provision for warranty - provision of warranty was made every year in accordance with accounting standards 29 and the provision is worked out scientifically every year......
August 29, 2020 Case Laws Income Tax

Nature of expenditure - manufacturing and administrative expenses incurred by the appellant for development of a product in the course of its manufacturing activity......
August 29, 2020 Case Laws Income Tax

Corrected / revised computation of taxable total income filed before ITAT - pleading to admit the fresh claim / additions evidences - Tribunal has rightly held that......
August 29, 2020 Case Laws Income Tax

Reassessment proceeding under Section 147 was made to form change of opinion and therefore, it would clearly amount to reviewing the original order of assessment u/s 147....
August 29, 2020 Case Laws Income Tax

Eligibility of deduction u/s 80ID - five year tax holiday to new hotels of two, three and four star categories and convention centers - The assessee has commenced......
August 29, 2020 Case Laws Income Tax

Disallowance of interest - loan was used for the purpose of horse-trading and horse racing business - the finding of the CIT(A) rejecting the claim of the assessee on......
August 29, 2020 Case Laws Income Tax

Validity of assessment u/s 153A/143(3) - wrong reference to a section under which an order is made - the aforesaid mistake cannot be stretched to the extent for......
August 29, 2020 Case Laws Customs

Non-Service of notice - Section 153 of the Customs Act - Non-fulfilment of export obligation - Admittedly, in this case, the Authority has not served the notice on the......
August 29, 2020 Case Laws Customs

Change in classification of imported goods - Quick Lime - purity is less than 98% - in view of the Board s Circular as well as HSN Explanatory Note, the product......
August 29, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - The payment received for shares, duly issued to a third party at the request of the payee as evident from official records, cannot be a debt, not to....
August 29, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Apart from the fact that the Joint Development Agreement entered into, is a contract of reciprocal rights and obligations, both parties are......
August 29, 2020 Case Laws Service Tax

Classification of services - job of “metal spreading for supply uncoursed black Trap Rubble stone” - The overall work is of construction of bunds which falls under......
August 29, 2020 Case Laws Central Excise

Refusal to accept the surrender of Central Excise Registration Certificate - the demand, which was a subject matter in the CESTAT, before the Hon'ble Supreme Court, no......
August 29, 2020 Case Laws VAT and Sales Tax

Determination of sales turnover - When the assessing authorities could accept the explanation of the assessee for the subsequent years, there is no reason for them to......
August 28, 2020 Case Laws GST

Recovery of GST - Non filing of returns - there is a caveat in terms of provision u/s 62(2) where on receipt of such information, as noticed above, was received by the......
August 28, 2020 Case Laws GST

Claim of transitional credit - submission of form TRAN-1 - mistake while submitting the aforementioned form TRANS-1 was that, instead of filing it under the Central GST,....
August 28, 2020 Case Laws Income Tax

Capital gains arising out of land acquisition compensation - date of accrual of capital gains for the purpose of Section 45 - capital gains shall be deemed to have......
August 28, 2020 Case Laws Income Tax

Can the decision of ITAT for later Assessment Year (i.e AY 1975-1976) be questioned in the second round of litigation - the revenue had every reason to question the......
August 28, 2020 Case Laws Income Tax

Penalty u/s. 271(1)(c) - non disclosure of sale the lands and windmill - As carefully perused the penalty order dated 25.09.2015 and we find that the Assessing Officer......
August 28, 2020 Case Laws Income Tax

TDS u/s 194N - Consequences of failure to deduct or pay u/s 201 - cash withdrawal exceeding Rupees One Crore in an year from the bank account - Not agree with the stand.....
August 28, 2020 Case Laws Income Tax

Short deduction of TDS - Addition u/s 40 (a) (ia) - the assessee has deducted tax on the above sum the rate of one percent instead of 2% as held by the assessing officer....
August 28, 2020 Case Laws Income Tax

Rectification of mistake - when there is no provision for condonation of delay for filing of the miscellaneous application, then the miscellaneous application filed......
August 28, 2020 Case Laws Income Tax

Addition u/s 68 - Unexplained share capital receipt - Mere paperwork by the assessee does not take the authorities anywhere, when the learned AO suspected the real......
August 28, 2020 Case Laws Income Tax

Addition u/s 14A - Whether the provisions of section 14A are applicable even when no exempt income is earned? - Recently, the Hon'ble Supreme Court has dismissed the SLP....
August 28, 2020 Case Laws Customs

Power of Central Government to impose quantitative restrictions - Import of Peas - Powers u/s 3 versus u/s 9A of the FTDR Act - Notwithstanding Section 9A, the Central......
August 28, 2020 Case Laws Customs

Validity of Show Cause Notice (SCN) - Violation of Foreign Trade Policy - SFIS scheme - This is a premature writ petition, we are not inclined to give any relief to the.....
August 28, 2020 Case Laws Customs

Principles of Natural Justice - Mutuality of interest - while remanding back the matter, it is observed that: the initial SCN was adjudicated by the Commissioner and the....
August 28, 2020 Case Laws Service Tax

Merely because the total amount has been billed using the number of man hours / man days as a measure, it does not become a manpower supply service. If this logic is......
August 28, 2020 Case Laws Central Excise

CENVAT Credit - input - film rolls - Kodak branded film rolls supplied free of cost with Camera - when the film roll is being clubbed with the camera and both packed in.....
August 28, 2020 Case Laws VAT and Sales Tax

Determination of mandatory pre-deposit for admission of an appeal - adjustment of deposit with input tax credit (ITC) / Net credit - No authority is cited by the......
August 28, 2020 Case Laws VAT and Sales Tax

Penultimate sale - leather garments - The mere claim of the Assessee that the Assessing Authority had initially allowed such exemption u/s 5(3) of the Act upon due......
August 27, 2020 Case Laws GST

Liability of GST - Funds received from Govt. of Kerala for paying the cost of the water metro project - the services rendered by the applicant to the Government of......
August 27, 2020 Case Laws GST

Exemption from GST - Hostel facility to its students - Whether there is any tax liability on hostel fees collected from outside students staying at the hostel for study.....

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