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Highlights / Annotations / Catch Notes For September of 2020

Home Highlights September September 2020 Year 2020

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Showing 201 to 250 of 415 Records

1 2 3 456 7 8 9

September 15, 2020 Case Laws Income Tax

Correct head of income - Rental income - where, in the terms of memorandum of association, the main object of the assessee given was to acquire properties and earn......
September 15, 2020 Case Laws Income Tax

Unexplained income - difference between the turnover declared by the assessee and the turnover declared in form 26AS - Once the assessment of the assessee was completed.....
September 15, 2020 Case Laws Income Tax

The interest expenditure correlating to the interest paid by the assessee firm on the funds borrowed is to be disallowed u/s 36(1)(iii), to the extent, the same were......
September 15, 2020 Case Laws Income Tax

Penalty u/s 271AAB - Defects in the notice issued u/s 274 - CIT(A) reduced the penalty to 10% applying provisions of Section 271AAB(a) of the Act as against penalty......
September 15, 2020 Case Laws Customs

Valuation of imported goods - Commissioner (Appeals) allowed the appeal accepting the declared value - The assessing officer have been making enhancement in a routine......
September 15, 2020 Case Laws Customs

Benefit of exemption - certificate of origin - The rejection of certificate of origin is bad as it was a case of minor discrepancy and was fit to be ignored in terms of.....
September 15, 2020 Case Laws Insolvency and Bankruptcy

Initiation of disciplinary proceedings - complaint against the IP by the petitioner - Regulation 7(3) of IBC - Merely informing the petitioner as has been done in the......
September 15, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Outstanding dues and Adjustment of retention money - The IBC is not a substitute for a recovery forum. - Since there was a dispute existing prior to....
September 15, 2020 Case Laws Central Excise

Classification of goods - RBD Palm Stearin - Making a wrong claim of classification, per se, is neither fraud nor collusion nor wilful misstatement nor suppression of......
September 14, 2020 Case Laws GST

Revocation of cancelled petitioner's GST registration - The cancellation of registration in the instant case is under Section 29(2)(a) of the CGST Act and the order......
September 14, 2020 Case Laws GST

Profiteering - supply of Services by way of admission to exhibition of cinematography films where the price of admission ticket - there has been a reduction in the rate.....
September 14, 2020 Case Laws Income Tax

Advance ruling system for residents - it appropriate to recommend to the Central Government to consider the efficacy of the advance tax ruling system and make it more......
September 14, 2020 Case Laws Income Tax

Interest income of the appellant-Corporation - income from other sources u/s 56 or Business income u/s 28 - The business activity of the appellant-Corporation is really.....
September 14, 2020 Case Laws Income Tax

Addition u/s 40A(3) - cash payments made by the assessee to the agriculturists/farmers for purchase of land - CIT-A have found that the assessee has failed to prove the.....
September 14, 2020 Case Laws Income Tax

Exemption u/s 54EC - Since assessee had invested ₹ 71 lakhs in two different financial years and within six months from the date of transfer of the capital assets,....
September 14, 2020 Case Laws Income Tax

Addition on account of deemed dividend u/s 2(22)(e) - Admittedly, the assessee company is registered with stock exchange and fulfill all the conditions of Section 2(18).....
September 14, 2020 Case Laws Income Tax

Exemption u/s 11 - income applied outside India - Proper application for approval u/s 11(1)(c) - When the Assessing Officer appeared before us in person, he did not even....
September 14, 2020 Case Laws Income Tax

Disallowance of Travelling and conveyance expenses appearing as credit card payment in the AIR - No doubt, the taxpayer is having details of expenses claimed as......
September 14, 2020 Case Laws Customs

Confiscation - imposition of redemption fine and penalties - mis-declaration of imported goods - the overseas supper had wrongly shipped different types of goods -......
September 14, 2020 Case Laws VAT and Sales Tax

Levy of penalty - Evidently there was no intention on the part of the assessee to evade or avoid taxes and therefore, levy of 15% penalty being totally illegal is......
September 14, 2020 Case Laws Customs

Under-valuation of import goods - Since the investigations with regard to alleged fraud committed in exportation of goods in the originating country, has not attained......
September 14, 2020 Case Laws Customs

The adjudicating authority has lost sight of the fact that the appellant's company is an artificial or non-human entity, cannot function or operate without involvement......
September 14, 2020 Case Laws Service Tax

Proof of payment of service tax - challans copies do not have legible bank seal - since the said challans are supported with CBEC website payment confirmation, there is.....
September 14, 2020 Case Laws Companies Law

Restoration of the name of the Company in the Register of Companies - The present petition is filed by the shareholder-cum-promoters of the Company and is within the......
September 14, 2020 Case Laws Companies Law

Restoration of name of respondent in the Registrar of Companies - allowing this petition would only enable the petitioner (Income Tax Department) to conduct further......
September 12, 2020 Case Laws Income Tax

Penalty u/s 271D and 271E - violation of provision of section 269SS and 269T - Loan or deposits in Cash - Belief on the part of the assessee in view of the past history.....
September 12, 2020 Case Laws Income Tax

Assessment u/s 147 - Additions u/s 68 - The regular assessment and block assessment are both separate proceedings and even can run parallel - assessee has failed to......
September 12, 2020 Case Laws Income Tax

Status of a trust/AOP - Valid status - assessee trust is a revocable trust - provisions of Sec. 61 to 63 of the Act would be applicable to it - there would be no legal......
September 12, 2020 Case Laws Income Tax

TDS u/s 194A - Disallowance u/s.40(a)(ia) - non-deduction of tax at source on interest paid to some of the members, which were held to be not legal members - whether......
September 12, 2020 Case Laws Income Tax

Exemption u/s 11 - undue benefit in lieu of salary and allowances to the persons specified u/s 13(3) - In the present case, even if it is held that there is violation of....
September 12, 2020 Case Laws Customs

Provisional release of car imported - whether the imported vehicle is a brand new one or it is a second hand model - When the statute itself provides for provisional......
September 12, 2020 Case Laws Customs

Levy of Penalty u/s 112 (a) of the Customs Act on the employees of CHA - The appellant was working as per the instructions given to him by his senior. There is no case......
September 12, 2020 Case Laws Companies Law

Restoration of name of company - The Appellant has been able to satisfy this bench that it has certain assets which necessitate and justify the restoration of its name......
September 12, 2020 Case Laws Companies Law

Voluntary revision of financial statements - Income Recognition - NPA - Section 131 of the Companies Act, 2013 - The petitioner-company fulfilled the requirements under.....
September 12, 2020 Case Laws Companies Law

Non-conduct of Annual General Meeting - In view of the mandatory requirement under the provisions of the Companies Act, 2013 and in view of the paramount interest of the....
September 12, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - It is true that after invocation of the pledge, Shares were transferred in dematerialised form in the DP Account of SBI CAP Trustee Company Ltd. and....
September 12, 2020 Case Laws Insolvency and Bankruptcy

Approval of Resolution Plan - CIRP process - dissenting financial creditors - No financial creditor either assenting or dissenting can challenge a Resolution Plan, as......
September 12, 2020 Case Laws Service Tax

Refund of accumulated credit - ascertainment of eligible refund under Rule 5 - In both the numerator and denominator, the amount of export turnover have to be considered....
September 12, 2020 Case Laws Service Tax

Refund of Service Tax - Club or Association Service - principles of Unjust Enrichment - The fact that the appellant has passed on the tax element to its service......
September 12, 2020 Case Laws Service Tax

Club and Association Service - The ‘club or association’ was earlier defined under section 65(25a) and 65(25aa) to mean ‘any person’ or ‘body or persons’ providing......
September 12, 2020 Case Laws Wealth-tax

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of.....
September 12, 2020 Case Laws Wealth-tax

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Section 21AA has been introduced in order to prevent tax evasion - The Bangalore Club is....
September 11, 2020 Case Laws GST

Period of limitation for filing an appeal - whether the appellate authority was justified in rejecting the appeal on the ground of limitation or not? - there was no......
September 11, 2020 Case Laws GST

Grant of Bail - pre trial detention of accused - In view of the allegations of creating fake firms and claiming such fraudulent input tax credit and routing them through....
September 11, 2020 Case Laws GST

Refund of Service Tax - cancellation of booking of flat - Even if the payment is in the nature of service tax, the date of cancellation of flat will be considered as the....
September 11, 2020 Case Laws Income Tax

Exemption u/s 11 - Whether the appellant is entitled to a registration u/s 12AA - rejected the application on the ground that the assessee's activity of imparting......
September 11, 2020 Case Laws Customs

Constitutional Validity of Section 25(4) of the Customs Act, 1962 as amended Finance Act, 2016 - Increase in duty on crude palm oil from 30% to 44% - Electronic......
September 11, 2020 Case Laws Indian Laws

Conduct of investigation by the police officer who himself is the complainant - NDPS - There is no reason to doubt the credibility of the informant and doubt the entire.....
September 11, 2020 Case Laws Income Tax

Deduction u/s 54 - whether advance payment made by the assessee for the purchase of a residential flat would constitute a part of purchase or not, when such advance is......
September 11, 2020 Case Laws Income Tax

Estimation of income - bogus purchases - We admit additional evidence being MVAT paid by the assessee for the concerned assessment years on the impugned purchases. We......

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