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Highlights / Annotations / Catch Notes For August of 2024

Home Highlights August August 2024 Year 2024

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Showing 451 to 500 of 933 Records

1 ....6 7 8 91011 12 13 14........ 19

August 16, 2024 Case Laws Income Tax

Indian citizen's appeal delay condoned due to overseas stay. CIT(A) directed to reconsider matter afresh.
August 16, 2024 Case Laws Income Tax

Assessee's disallowance restricted; paintings expensed; currency fire loss remanded for fresh adjudication.
August 16, 2024 Case Laws Income Tax

Taxability of receipts, debentures, acquisitions, improvements & losses in business.
August 16, 2024 Case Laws Customs

Employees penalized for exporter's attempt to claim excess duty drawback through overvaluation lacked concrete evidence
August 16, 2024 Case Laws Customs

Customs issued notice without probe into alleged license forgery. DGFT letter inconclusive after 10 yrs. Forgery unproven. Order denying exemption, duty & penalty set aside.
August 16, 2024 Case Laws SEBI

Petitioners resigned as directors before alleged offence per Form-32, a public document. Respondent's letter can't override it.
August 16, 2024 Case Laws SEBI

Unregistered advisory services to 290 investors earned INR 12 cr. Show Cause Notice for disgorgement, prohibition, penalties.
August 16, 2024 Case Laws SEBI

Unregistered CIS mobilized over Rs. 132 crores; SEBI orders freeze on accounts & cessation of activities to safeguard investors.
August 16, 2024 Case Laws Insolvency and Bankruptcy

Applicant can't withdraw insolvency petition u/s 9 at any stage & file afresh as a matter of right. Adjudicating authority rightly denied liberty.
August 16, 2024 Case Laws Insolvency and Bankruptcy

Corporate Debtor's assets freed post RP approval. Clean slate for new mgmt. NCLT erred not lifting ED's attachment.
August 16, 2024 Case Laws FEMA

Adjudication u/s 16(1) FEMA can proceed during appeal against s37A(1) seizure order. Distinct functions of authorities. No writ against show cause notice after adjudication.
August 16, 2024 Case Laws Service Tax

Notice Pay recovered from employees for quitting early is not liable to service tax.
August 16, 2024 Case Laws Service Tax

Equipment rented on monthly basis=deemed sale under Sec 366(29A)(d). Excluded from 'service' as per Sec 65B(44). Tribunal upheld transaction as sale, not service.
August 16, 2024 Case Laws Service Tax

Penalty u/s 78 cannot be imposed with penalty u/s 76 for same offense. Nizam Sugar Factory case applies sans fraud, etc. Demand u/s 73(1) only when no fraud.
August 16, 2024 Case Laws Service Tax

Tax liability upheld due to misstatement of facts in ITR & ST-3 Returns. Failure to provide documents to dept. Interest & penalty imposed.
August 16, 2024 Case Laws Central Excise

Appellant's duty refund on revised invoice upheld. Dept can't retain duty not payable under law. Cancelled invoice can't demand duty sans evidence.
August 16, 2024 Case Laws Indian Laws

Bail granted; no prima facie case under UAPA. Letting out premises insufficient. No antecedents, no organizing training.
August 16, 2024 Case Laws Indian Laws

Dishonored cheque attracts liability; respondent failed to rebut presumption. Offense committed under NI Act. Interest rate discrepancy immaterial.
August 14, 2024 Circulars GST

Massive crackdown on fake GST registrations from 16 Aug-15 Oct 2024. Suspicious GSTINs flagged, ITC blocked & recovered, arrests made.
August 14, 2024 Notifications Companies Law

NFRA appoints Sanjay Kallapur & Prof. R. Narayanswamy as part-time members. Amendment notified by MCA under Companies Act.
August 14, 2024 Notifications SEBI

SEBI amends REIT regulations, exempting REITs from filing draft offer documents for fast track rights issues, subject to conditions.
August 14, 2024 Notifications Income Tax

UIDAI exempted from income tax on govt grants, fees, interest u/s 10(46) for 5 yrs till 2028-29. Conditions apply. No commercial activity.
August 14, 2024 Notifications Income Tax

West Bengal Transport Workers' Social Security Scheme exempted from income tax u/s 10(46) for govt grants, cess, fees & interest income.
August 14, 2024 Notifications Companies Law

Foreign companies must file docs in Form FC-1 with Registrar, Central Registration Centre. Rules effective 09.09.2024.
August 14, 2024 Case Laws GST

High Court quashed seizure order as E-way bill produced before order; no contravention occurred. Authorities didn't verify transaction.
August 14, 2024 Case Laws GST

Illness grounds for quashing assessment orders. Remanded for fresh orders considering petitioner's reply & medical condition within 30 days.
August 14, 2024 Case Laws GST

GST Registration cancellation: violating natural justice. Registration restored but ITC utilization barred until fresh proceedings.
August 14, 2024 Case Laws Income Tax

Gift receipts accepted, penalty waived; interest applicable. Justified 'spirit of settlement'. Conditions u/s 115BBE not met. No interference warranted.
August 14, 2024 Case Laws Income Tax

Penalty on LAO for non-TDS deduction on land acquisition compensation set aside as he followed Court order in good faith.
August 14, 2024 Case Laws Income Tax

Legal reps don't need to inform about assessee's death. Dept must recall notices issued to deceased. Legal heirs need fresh notice.
August 14, 2024 Case Laws Income Tax

Reassessment notice quashed; interest from NCDs taxed u/s 194LD, not dividend; variation in reasons recorded & final order.
August 14, 2024 Case Laws Income Tax

Registration approved despite delay in filing audit report. Commissioner should have condoned delay instead of rejecting application.
August 14, 2024 Case Laws Income Tax

Settlement Commission can't reopen concluded proceedings via Sec 154; its order final except for fraud/ misrepresentation. Interest payable only until settlement application allowed.
August 14, 2024 Case Laws Income Tax

Reassessment quashed due to email issues. Petitioner to address income source for deposits, pay Rs.25L/year. Fresh orders for closed firm's assessment.
August 14, 2024 Case Laws Income Tax

Interest earned on margin deposits for business loans rightly treated as business income, netted off against interest capitalized in WIP. Upheld based on nexus with business.
August 14, 2024 Case Laws Income Tax

Revised return & Form 67 filed on time. Salary earned abroad taxed under DTAA. Late filing can't deny treaty benefit. No double taxation.
August 14, 2024 Case Laws Income Tax

Penalty for non-compliance with income tax notices invalid without proof of service & willful default. Separate proceedings required for each failure.
August 14, 2024 Case Laws Income Tax

Assessee undervalued sales, but no addition under sec 43CA. Excess payment not interest, no TDS. Sec 40(a)(ia) not applicable.
August 14, 2024 Case Laws Income Tax

Trustee bought car with charity funds but denied tax exemption. Registering in managing trustee's name for tax benefit rejected.
August 14, 2024 Case Laws Income Tax

Assessment reopened to check non-filing status. Reopening based on survey operation at hotel. Incorrect return filing info = invalid jurisdiction.
August 14, 2024 Case Laws Income Tax

Investment in hotel building not explained. DVO report estimation-based, no incriminating material found. 4-star hotel qualifies for deduction.
August 14, 2024 Case Laws Income Tax

Dispute over agricultural income resolved! Assessing Officer added income, but Tribunal ruled in favor of assessee.
August 14, 2024 Case Laws Income Tax

Appellant's cash deposits during demonetization were explained sufficiently, supported by evidence of cash withdrawals. No additions.
August 14, 2024 Case Laws Income Tax

Assessee entitled to interest relief u/s 234B if tax paid before final determination. Refund exceeds 10% of tax demand.
August 14, 2024 Case Laws Income Tax

Penalty overturned for non-compliance with notices due to hostile Director. Appeal allowed by Tribunal.
August 14, 2024 Case Laws Income Tax

Dispute over Income Tax Act adjustments due to Form 10B filing issue. AO's scope limited. CPC made errors. Remanded for review.
August 14, 2024 Case Laws Customs

SCOMET list: Aircraft engines from U.A.E. deemed civilian; export rules must be rational
August 14, 2024 Case Laws Customs

Dispute over import valuation! Court emphasizes written certificate for electronic evidence. Appellant's challenge upheld.
August 14, 2024 Case Laws Insolvency and Bankruptcy

Appeal dismissed as court rules no breach of Insolvency Code. Corporate Debtor's non-payment caused default.
August 14, 2024 Case Laws FEMA

Property forfeiture challenge denied under SAFEMA & TADA. No nexus needed for notice validity. Appellant's claims lacked proof.

1 ....6 7 8 91011 12 13 14........ 19

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