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Highlights / Annotations / Catch Notes For August of 2024

Home Highlights August August 2024 Year 2024

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Showing 501 to 550 of 933 Records

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August 14, 2024 Case Laws Service Tax

Appeal rights under FEMA clarified by top court. Orders of Tribunal can be challenged in High Court with restrictions. No bypassing statutory provisions.
August 14, 2024 Case Laws Service Tax

Can excess service tax be adjusted against short-payment? Tribunal says no. Recovery rule must apply. Department's time limit extended unjustified. CESTAT allows appeal.
August 14, 2024 Case Laws Service Tax

Railway rakes control by Indian Railways. Not a tangible goods service. Appeal allowed.
August 14, 2024 Case Laws VAT and Sales Tax

High Court upheld tax assessment u/s 7A for missing sale bill. Burden on dealer to prove transactions not taxable. Penalty upheld.
August 14, 2024 Case Laws Indian Laws

Cheques for debts should be decided at trial, not initially. NI Act promotes cheque use for business. Debt terms defined.
August 14, 2024 Case Laws Indian Laws

Partners are jointly liable for business acts under Partnership Act. Directors have different responsibilities. Partners remain liable without public notice of retirement.
August 14, 2024 Case Laws Indian Laws

Dispute over bounced cheques: Did Respondent have to repay? Court looked at legal duties and presumptions. Respondent raised doubt, won.
August 13, 2024 Case Laws GST

State GST officer suspended for issuing refund to fake exporter challenged. Lack of evidence and proper verification cited. Suspension quashed.
August 13, 2024 Case Laws GST

Court allowed fresh chance to petitioner due to discrepancies in turnover. Responding to notices could have changed the outcome.
August 13, 2024 Case Laws GST

Petitioner challenged GST Assessment Orders, lacked info, charges may be taxable. Court quashed orders, remitted for fresh assessment.
August 13, 2024 Case Laws GST

Goods transferred from FTWZ to DTA or within FTWZ, subject to CGST Act. Ruling confirms bonded warehouse status. Addressing IGST levy & input tax credit reversal. FTWZ as SEZ warehouse.
August 13, 2024 Case Laws Income Tax

Tax officer fined Rs.25,000 & faces jail for disobeying court order.
August 13, 2024 Case Laws Income Tax

AO corrected mistake under sec 154 due to audit objections. Tribunal upheld assessee's appeal. Revenue's appeal dismissed.
August 13, 2024 Case Laws Income Tax

High Court ruled reopening proceedings invalid as AO lacked fresh material. AO's reason for reopening didn't show failure to disclose. Assessment order addressed issue already. Notice u/s 148 quashed.
August 13, 2024 Case Laws Income Tax

Court ruled converting blocks to slabs is "manufacture" under tax law. Impact on tax liabilities crucial. Upheld High Court decision.
August 13, 2024 Case Laws Income Tax

The case involves fake purchases in bullion sector. Key issue is Gross Profit rate. Tribunal directs 0.15% GP rate for disputed purchases.
August 13, 2024 Case Laws Income Tax

Company in liquidation faced income tax reassessment. NCLT appointed liquidator. IBC overrides. ITAT appeals dismissed.
August 13, 2024 Case Laws Income Tax

TP adjustment excludes incomparable companies due to related party transactions. Cost allocation change disallowed. 25% depreciation on intangible assets allowed.
August 13, 2024 Case Laws Income Tax

Assessee disputed TDS liability on provisions in books. Appellate authority ruled in favor citing precedent.
August 13, 2024 Case Laws Income Tax

AO added stock based on search & statements from GM/Director. Discrepancies due to search activities. AO misinterpreted finished goods accounting. ITAT allowed assessee's appeal.
August 13, 2024 Case Laws Income Tax

Assessee denied exemption, challenges denial due to missing registration docs. ITAT rules existing registration protects exemption claim.
August 13, 2024 Case Laws Income Tax

Tax case: Unexplained cash credit from alleged bogus loans. Assessee proved loan genuineness with evidence. ITAT upholds decision.
August 13, 2024 Case Laws Benami Property

Appellant's properties attached in benami case. Tribunal confirms some but sets aside others due to inadequate consideration.
August 13, 2024 Case Laws Customs

Tribunal cuts fine & penalty for importing old clothes. Confiscation upheld but fine & penalty reduced to 10% & 5%. CESTAT
August 13, 2024 Case Laws Customs

Dispute over imported goods as 'Capital Goods' for customs exemption resolved in favor of importer.
August 13, 2024 Case Laws Customs

Penalty overturned for arranging lorries in illegal export case. Lack of proof of knowledge crucial.
August 13, 2024 Case Laws Insolvency and Bankruptcy

Payment dispute case: Invoices overdue? Time-barred claims rejected. Preexisting dispute on 11th invoice. Appeal dismissed.
August 13, 2024 Case Laws Insolvency and Bankruptcy

Appellate Tribunal: Bank Guarantee can be invoked in moratorium. Assets of surety separate from Corporate Debtor. Appeal allowed.
August 13, 2024 Case Laws FEMA

Property seized under SAFEMA isn't automatically linked to TADA cases. Declaratory suits in Bombay HC won't affect SAFEMA proceedings. No need to prove income-property link for SAFEMA notice validity.
August 13, 2024 Case Laws FEMA

Court allows using documents from other legal proceedings as evidence in FERA case. Proceeds independently. The Director found guilty.
August 13, 2024 Case Laws FEMA

Business trip with $50,000 in Cheques without permission led to FEMA violation. Appellant not liable, but Finance Manager aware. Penalties reduced.
August 13, 2024 Case Laws FEMA

Company directors' liability under FEMA depends on their role, not just title. Lack of evidence led to dismissal.
August 13, 2024 Case Laws Money Laundering

Challenge to property attachment in case. Adjudicator equates property value to proceeds. Definition clarified in related case. Appellant's failure to disclose source led to dismissal.
August 13, 2024 Case Laws Money Laundering

Seizure order challenged under PMLA 2002 not valid if investigation not done within 365 days. Court allows appeal, sets aside order.
August 13, 2024 Case Laws Service Tax

Appellant wins refund claim for non-commercial project, no service tax liability.
August 13, 2024 Case Laws Central Excise

Dispute over CENVAT credit for construction services resolved! Tribunal broadens rules, allowing credit for plant security.
August 13, 2024 Case Laws Central Excise

Appellant wins cenvat credit case on Bills of Entry! Tribunal rules in favor citing Customs Act.
August 13, 2024 Case Laws Indian Laws

Court ruled exchange rate on deposit date applies for converting foreign arbitral award to INR. Interest ceases on deposit.
August 13, 2024 Case Laws Indian Laws

Court rules interest on money award at 3x RBI rates with monthly compounding. Debtor must pay in 4 weeks. Compliance due Aug 6, 2024.
August 12, 2024 Notifications SEZ

1.11 hectares de-notified from Pune IT SEZ, leaving 3.95 hectares. Land to aid SEZ infrastructure. Approved by authorities.
August 12, 2024 Notifications FEMA

Non-residents can buy/sell Indian Sovereign Green Bonds in IFSC. Inward remittance for purchase & outward remittance of sale proceeds allowed.
August 12, 2024 Notifications SEZ

Notification amends previous ones, changing Developer's name from "M/s. GIFT SEZ Limited" to "M/s. Gujarat International Finance Tec-City Company Limited".
August 12, 2024 Case Laws GST

Writ petition maintainability depends on statutory redressal mechanism availability, not purely legal issues. High Court discretion upheld.
August 12, 2024 Case Laws GST

Bio-fertilizers classified under different chapters leading to disparate GST rates. Order quashed, remanded for fresh hearing.
August 12, 2024 Case Laws GST

Validity of GST demand notice challenged for licensing services on minerals from 1/7/17 to 31/12/18. HC issued notice, no coercive recovery.
August 12, 2024 Case Laws GST

AAR denied error rectification. Queries not ruled. No error found. Differential IGST ineligible for ITC. Application rejected.
August 12, 2024 Case Laws GST

Plastic parts like rope handle & vent plug for lead acid batteries fall under heading 8507, not plastic chapters.
August 12, 2024 Case Laws GST

Summary order quashed, bank accounts unattached due to lack of order. Lift attachment directed.
August 12, 2024 Case Laws GST

Extension of time for tax recovery order contested. Affidavits required. Jurisdictional issue raised. Interim stay till Dec 2024.
August 12, 2024 Case Laws GST

Appeal rejected wrongly. Explanation overlooked. Hear appeal on merits soon per HC order.

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