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Highlights / Annotations / Catch Notes For September of 2019

Home Highlights September September 2019 Year 2019

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Showing 51 to 100 of 510 Records

123 4 5 6........ 11

September 27, 2019 Case Laws Customs

Suspension of Importer Exporter Registration granted to the petitioner (IEC) - Licensing Authority, if intends to suspend or cancel the license, should state specific......
September 27, 2019 Case Laws Customs

Validity of Show cause notice - Merely because that the investigation before issuing the SCN was conducted by some other authority, the same cannot be a ground to......
September 27, 2019 Case Laws Customs

Claim of Interest on amount deposited during investigation - amount was deposited voluntary or under coercion - amount was deposited in 2008 in installments on different....
September 27, 2019 Case Laws Customs

Seizure of goods - Confiscation - Even though the appellant have waived SCN, atleast adjudicating authority should have adhered to time limit as prescribed in section......
September 27, 2019 Case Laws Companies Law

Conversion of the companies into LLPs - compounding of offence - Adopting a blood thirsty approach and that too against compliant entities is unwarranted moreso when......
September 27, 2019 Case Laws Companies Law

Constitutional validity of Corporate social responsibility (CSR) - Both the tests of equality have been satisfied - Section 135 of the Companies Act, 2013 is not......
September 27, 2019 Case Laws Central Excise

Imposition of penalty - revenue neutral situation - assessee paid the tax demand along with interest prior to the issuance of SCN itself - The penalty is imposable u/s......
September 27, 2019 Case Laws Income Tax

Characterization of income - subsidy received - Focus Marketing Scheme - the amount was not an export incentive, but rather capital receipt and therefore, not taxable. - HC
September 27, 2019 Case Laws Income Tax

Addition u/s 41(1) - proof of seizure of Sundry Creditors - except making the averments to the effect that these Sundry Creditors were paid, no documentary proof thereof....
September 27, 2019 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Corporate Debtor unable to repay the amount - Non Performing Asset - Right of the Bank - In absence of any specific order of taking over the......
September 27, 2019 Case Laws Service Tax

Valuation - The value of material which is supplied free by the service recipient cannot be treated as “gross amount charged” as that is not a “consideration” for......
September 27, 2019 Case Laws Service Tax

Cenvat credit - to state that, the franchise service could not be termed as an input service, for management consultancy is against the spirit of the CENVAT Credit mechanism - AT
September 27, 2019 Case Laws Central Excise

CENVAT credit - Credit of EOU availed by its DTA unit - Cursory reading of Sub Rule 4 of Rule 12 A would indicate that Cenvat Credit available with one of registered......
September 27, 2019 Case Laws Income Tax

Disallowance of depreciation u/s 32 - the issue is not regarding discount on debentures but the cost of Compensatory Afforestation of 134 ha. of forest land for which......
September 27, 2019 Case Laws Income Tax

Disallowance of write off of tax deducted at source (TDS) - non–allowance of TDS credit to the assessee due to non–receipt of TDS certificates amounts to loss of income.....
September 27, 2019 Case Laws Income Tax

Disallowance of provision for expenditure - assessee consistently following this accounting method from past years - the assessee has reversed the provision in the......
September 27, 2019 Case Laws Income Tax

Penalty u/s. 271D - Cash borrowing to make this urgent cash payments appears to be reasonable. -there was reasonable cause for accepting this loan in cash and hence, in.....
September 27, 2019 Case Laws Income Tax

Claim of depreciation, interest and maintenance expenses for the BMW car - Assessee has not established that it is owner of the impugned Car and the car was used wholly.....
September 27, 2019 Case Laws Income Tax

Penalty u/s 271(1)(c) - assessee was very well aware that it was deliberately showing capital account transaction loss as loss on revenue account. Hence by no stretch of....
September 27, 2019 Case Laws Income Tax

TCS u/s 206C - sale of 'scrap' of arising on dismantling of ships - the non-excisable products are obtained from the ships and sold as it is without undergoing any......
September 27, 2019 Case Laws Service Tax

Whether the Offshore Upfront Fee paid by the respondent is an interest or a fee? - - the said amount on which the service tax is being demanded and Upfront Fee is......
September 26, 2019 Circulars Central Excise

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - certain clarifications on the Scheme
September 26, 2019 Case Laws Insolvency and Bankruptcy

Winding up petition - time limitation - recovery of dues - A suit for recovery based upon a cause of action that is within limitation cannot in any manner impact the......
September 26, 2019 Case Laws GST

Input tax credit (ITC) - As the commercial production of exempted goods did not begin in 2018-19, the entire input tax on input services, subject to the provisions under....
September 26, 2019 Case Laws GST

Input tax credit (ITC) - the assessee is required to compute the admissible amount of the input tax credit on the capital goods used for both taxable and exempt supplies....
September 26, 2019 Case Laws Income Tax

Expenses incurred for the preoperative period towards the project development cost - the treatment given in the books of account by the assessee would not be conclusive.....
September 26, 2019 Case Laws Income Tax

Levy of fee u/s 234E - Late filing of TDS returns - no fee was leviable to the assessee u/ s 234E in violation of section 200(3), because assessee had furnished the......
September 26, 2019 Case Laws Customs

Imposition of Penalty - Once the value has been found misdeclared the goods become liable for confiscation under Section 111(m) of the Customs Act, 1962 and the person......
September 26, 2019 Case Laws Customs

Appropriation of the amount said to be deposited voluntarily by the importer - by issuing the show cause notice, Revenue has itself opted not to settle the issue in......
September 26, 2019 Case Laws Customs

Irregular imports - In the present case the goods were seized and then provisionally released. After provisional release of the goods they have been re-exported. In such....
September 26, 2019 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Petition u/s 7 of the I&B Code is to be considered by the Adjudicating Authority on its own merits taking into consideration the records and in......
September 26, 2019 Case Laws Service Tax

Works contract service - Site Formation and Clearance, Excavation, Earthmoving and Demolition Service - the contract being indivisible, no Service Tax can be levied upon....
September 26, 2019 Case Laws Central Excise

Refund of CENVAT Credit - Duty drawback claimed for export goods - since the drawback scheme itself has provided for a single rate of drawback, which, according to the......
September 26, 2019 Case Laws Central Excise

Requirement with the pre-deposit - Section 35F The prayer of the petitioner for being permitted to prosecute its appeal before the CESTAT without complying with the......
September 26, 2019 Case Laws Wealth-tax

Non filing of return of wealth - Penalty levied u/s 18(1)(c) of the Wealth Tax Act - third member confirms that, penalty be imposed against the assessee.
September 26, 2019 Case Laws GST

Exemption of GST - providing services to Government of Mizoram, as a Financial Management Specialist and Institutional Development Specialist - The Applicant is,......
September 26, 2019 Case Laws VAT and Sales Tax

Vires of Section 33 of HVAT Act 2003 - declaration of 'C' Forms - At the time of arguments, realising that vires cannot be challenged in appeal, learned counsel for......
September 26, 2019 Case Laws Income Tax

LTCG - Characterization of income - Benefit of exemption - as the assessee has entered into multiple transactions for various listed Companies, it was a regular feature.....
September 26, 2019 Case Laws Income Tax

Bogus LTCG - exemption claimed u/s 10(38) denied - No evidence of actual sale except the contract notes issued by the share broker were produced by the assessee. No......
September 26, 2019 Case Laws VAT and Sales Tax

Taxable event in case of ‘Central Excise’ and ‘Sales Tax’ is different. While ‘manufacture’ is the event in case of Central Excise; the taxable event in the case of VAT.....
September 26, 2019 Case Laws Income Tax

TDS u/s 194C or 194I - Expenses on Advertising and Exhibition - space is allotted to the assessee for carrying-out its business activities. Thus, a property for a......
September 26, 2019 Case Laws Income Tax

Capital gain on asset sold - LTCG OR STCG - period of holding - merely because there is a change in the nature of immovable property, the principles of determining date.....
September 26, 2019 Case Laws Income Tax

Admission of additional evidences under rule 46A by the CIT(A) - whether in earlier years the declared income of the assessee have been accepted in framing assessment......
September 26, 2019 Case Laws Income Tax

Disallowance u/s 36(l)(vii) r.w.s. 36(2) - bad debts written off in the P & L account - Writing off of sums which represent money lent in the ordinary course of business....
September 26, 2019 Case Laws Income Tax

Validity of order passed u/s 201(1) & 201(1A) - period of limitation - TDS u/s 195 - order u/s 201(1) & 201(1A) r.w.s 195 for A.Y 2007-08 in the case of the assessee......
September 26, 2019 Case Laws Income Tax

Bogus LTCG - Penny stock transaction - denying exemption u/s. 10(38) - This is a classic case of penny stock transaction. Such conversion of unaccounted money through......
September 26, 2019 Case Laws Income Tax

Rate of depreciation - nature of assets - Colour solution machines, have rightly been classified as plant and machinery by the DRP. It correctly held that these are......
September 26, 2019 Case Laws Income Tax

Set off of unabsorbed depreciation against Income from House Property and Income from Other Sources - the ‘set off’ of the ‘unabsorbed depreciation’ cannot be bridled......
September 25, 2019 Act Rules SEBI

ANNUAL REPORT - - SCHEDULE - 11 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 as amended.
September 25, 2019 Act Rules SEBI

ACCOUNTING POLICIES AND STANDARDS - - SCHEDULE - 09 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 as amended.

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H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

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H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

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