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Highlights / Annotations / Catch Notes For August of 2024

Home Highlights August August 2024 Year 2024

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Showing 551 to 600 of 933 Records

1 ....8 9 10 111213 14 15 16........ 19

August 12, 2024 Case Laws GST

Cancellation order sans reasons, violating natural justice. SCN lacked specifics on alleged fraud/misstatement. Order lacks grounds.
August 12, 2024 Case Laws GST

Electricity services exemption challenged. Distribution licensee entitled to exemption notification. Circular ultra vires. Interim protection granted.
August 12, 2024 Case Laws Income Tax

Reopening notice invalid, income already considered in regular assessment. General info insufficient reason. Mechanical sanction, no application of mind.
August 12, 2024 Case Laws Income Tax

Income from BCCI to Kerala Cricket Association - exempt u/s 2(15) or business income? Remanded to decide based on Ahmedabad case. Fresh orders in 6 months.
August 12, 2024 Case Laws Income Tax

Disallowed interest on interest-free loans to related parties. Onus on assessee to prove commercial expediency. Failed to justify.
August 12, 2024 Case Laws Income Tax

Penalty u/s 271(1)(c) deleted as assessee provided all facts for computing income & detailed explanations for deduction claim.
August 12, 2024 Case Laws Income Tax

Reopening upheld on info of escaped income. Addition u/s 68 deleted as books not rejected. Cross-exam denied. Edelweiss transactions misunderstood.
August 12, 2024 Case Laws Income Tax

Exemption u/s 54F/54 allowed if new property acquired within 1 year before sale; possession date key, not legal transfer.
August 12, 2024 Case Laws Income Tax

AO can't reject DCF method & apply NAV for share valuation. Independent parties' Rs 13.94/share value accepted under FEMA/RBI.
August 12, 2024 Case Laws Income Tax

NRI transferred rights via assignment deed in USA; capital gain not taxable in India as asset situs outside India.
August 12, 2024 Case Laws Income Tax

Bank's gratuity & leave provisions are real expenses, not notional. Taxable income is real, not book entries. ITAT upheld assessee's claim.
August 12, 2024 Case Laws Income Tax

AO made u/s 68 addition for director's loan account mismatch but Tribunal held previous year transactions can't be income for current year.
August 12, 2024 Case Laws Customs

Tribunal upheld confiscation & penalties on 5 unexported containers but set aside same for 231 exported containers due to dept's delay.
August 12, 2024 Case Laws Customs

Customs classification of imported flow meters, pressure & level transmitters disputed. Assessing authority's lack of reasoning. Appellate authority's flawed justification.
August 12, 2024 Case Laws Customs

Customs valuation of cyanuric chloride rejected by revenue. Appellant's 2000MT import at lower price upheld by CESTAT.
August 12, 2024 Case Laws Customs

measure gas pressure via electrical phenomena, classifiable under sub-heading 9026 20 00 of are pressure sensors; previous rulings classify similar devices under Heading 9026 when specific entry exists
August 12, 2024 Case Laws Customs

Advance ruling application dismissed over pending classification issue for 13 lithium-ion cell products. Pre-import queries allowed but post-import rulings issued.
August 12, 2024 Case Laws Money Laundering

Bail granted in Excise Policy case due to prolonged incarceration & denial of speedy trial despite allegations' seriousness.
August 12, 2024 Case Laws Service Tax

Cenvat credit on immovable property post completion certificate denied, treated as sale of goods. Credit allowed only on inputs within 1 year.
August 12, 2024 Case Laws Service Tax

Service tax demand on income shown in IT Return justified. Suppression of facts to evade tax. Extended period invoked. Penalty upheld.
August 12, 2024 Case Laws Central Excise

Interest rate on delayed excise refunds capped at 6% p.a. despite claims for higher rates. Govt empowered to fix 5-30% rate.
August 12, 2024 Case Laws Central Excise

Duty paid by mistake to govt passed on to contractor under protest. Contractor withheld excess payment. No proof duty wasn't credited. Unjust enrichment.
August 12, 2024 Case Laws Central Excise

Duty abatement allowed for machine closure period sans prior payment. Claimable under Pan Masala Rules & CESTAT precedents. Demand unsustainable.
August 12, 2024 Case Laws Central Excise

Port services qualify as 'place of removal' for CENVAT credit on cargo handling services for exports. Interpretation issue, not suppression.
August 12, 2024 Case Laws Central Excise

Items like Polycril & Sector 130/140 can't be treated as raw materials but consumables as they don't remain in final product.
August 12, 2024 Case Laws Indian Laws

Cheque dishonour case valid if filed within 30 days of notice. No need to prove notice service. Onus on accused to rebut service presumption. :
August 10, 2024 Case Laws GST

Notice uploaded, though under wrong tab. Adequacy not decided. Avail appeal remedy within 30 days. Petition disposed.
August 10, 2024 Case Laws GST

Petitioner sought Writ to unfreeze company accounts. Court ordered respondent to decide appeal after pre-deposit within 2 weeks.
August 10, 2024 Case Laws GST

GST registration cancellation order & SCN set aside due to vague allegations violating natural justice. Cryptic notice can't be basis for cancellation.
August 10, 2024 Case Laws GST

GST registration cancelled retrospectively without valid SCN, violating natural justice. Order lacked reasons & wrongly backdated.
August 10, 2024 Case Laws GST

Authorities' portal redesign addressed issue of improper notice service under GST Act. Court set aside order, remanded for fresh adjudication.
August 10, 2024 Case Laws GST

Tax demand set aside due to GSTR mismatch. 10% tax payable in 2 weeks, reply to show cause allowed.
August 10, 2024 Case Laws Income Tax

Unexplained cash credit addition deleted; authorities failed to analyze assessee's stand. AO's findings on cash deposit trend incorrect.
August 10, 2024 Case Laws Income Tax

Reassessment notice invalid, investment not income. Capital transaction, no income earned. Discrepancy not mentioned, violates natural justice.
August 10, 2024 Case Laws Income Tax

Bogus transactions are tax evasion camouflage. Authorities must inquire, procure info from other depts to tax real income & prevent evasion.
August 10, 2024 Case Laws Income Tax

Company dissolved after NCLT-approved Resolution Plan can't be reassessed. M Tech Developers, Sree Metaliks & Rishi Ganga view prevails.
August 10, 2024 Case Laws Income Tax

Faceless assessment notices by Joint AO invalid. HC strikes down u/s 148 notices issued by JAO citing lack of jurisdiction.
August 10, 2024 Case Laws Income Tax

Petitioner firm failed to prove Rs 1.01 cr investment/expense belonged to partners. Rental income used for maintenance.
August 10, 2024 Case Laws Income Tax

Roaming charges paid by telcos are "fees for technical services" u/s 194J, attracting TDS due to integral human intervention & expertise for smooth roaming.
August 10, 2024 Case Laws Income Tax

Sec 44AB inapplicable for tax-exempt income. No penalty u/s 271B for non-audit if income exempt u/s 10(34).
August 10, 2024 Case Laws Income Tax

Transfer of funds by assessee to own foreign account doesn't attract TDS u/s 195 as remittance wasn't to another person.
August 10, 2024 Case Laws Income Tax

CIT(A) erred in allowing appeal without considering facts. Section 50B applicable for slump sale capital gains computation.
August 10, 2024 Case Laws Income Tax

Interest income earned by govt co-op society in regular operations qualifies as cottage industry revenue eligible for 80P(2)(a)(ii) deduction.
August 10, 2024 Case Laws Income Tax

Voluntary income surrender /= concealment. AO failed to prove concealment. Not deemed concealment under Exp. 5A to 271(1)(c).
August 10, 2024 Case Laws Income Tax

Assessee proved identity & genuineness of share applicants; creditworthiness verification in shareholders' hands if doubted.
August 10, 2024 Case Laws Income Tax

Disallowance u/s 14A: AO to accept assessee's suo moto disallowance. Only non-exempt income yielding investments considered. Deduction u/s 80G allowed except for specific Kosh, Fund & CSR contributions.
August 10, 2024 Case Laws Income Tax

Filing Form 10-IE for new tax regime & Form 67 for FTC before due date is directory. Consider if filed before assessment.
August 10, 2024 Case Laws Income Tax

AO's findings on unspent funds u/s 11 set aside. Capital fund use for assets, WIP & current assets excluded from Sec 11(2)/(5). Remanded for fresh adjudication.
August 10, 2024 Case Laws Income Tax

Unexplained share capital & premium received = assessee's own unaccounted money flowing back. Creditworthiness proved. No sec 68 addition.
August 10, 2024 Case Laws Income Tax

Land valuation can't solely rely on DVO report. Land-locked properties' market value considered by independent valuer.

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