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Highlights / Annotations / Catch Notes For 2020

Home Highlights Year 2020

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Showing 1051 to 1100 of 5164 Records

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October 10, 2020 Case Laws Income Tax

Long term capital gain - transfer u/s 2(47) - Year of assessment - What has to be taxed is the amount received or accrued and not any notional or hypothetical income. -.....
October 10, 2020 Case Laws Income Tax

Penalty imposed u/s. 221 r.w.s. 140A(3) - no self assessment tax was paid - the assessee shall not cease to be liable to any penalty under sub-section (1) of section 221....
October 10, 2020 Case Laws Income Tax

Addition u/s 68 - creditworthiness of the creditors and genuineness of the transaction - Merely low income declared in the return of income by the creditors is no ground....
October 10, 2020 Case Laws Income Tax

Nature of expenditure - R&D expenditure - Raw-Material, tools designs ultimately determined by the assessee and used for manufacture of customised products were not......
October 10, 2020 Case Laws Income Tax

Addition u/s 56 (2)(vii)(b) - alleged excess value of share premium over fair value - in the absence of any defect in the valuation of shares arrived by the assessee on.....
October 10, 2020 Case Laws Income Tax

Disallowance of expenditure u/s. 37 - There is merit in the alternative contention of assessee that the expenses incurred on organizing an event to celebrate Ireland......
October 10, 2020 Case Laws Customs

Classification of imported goods - air-conditioners - the six-digit and eight-digit level are to be ascertained with reference to the descriptions. The deemed erasure of....
October 10, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Debt or not - courier service agreement for delivery service - the applicant......
October 10, 2020 Case Laws Insolvency and Bankruptcy

Conversion of claim - financial claim has been converted to an operational one - the CoC which has been reconstituted upon amending the aforesaid claim, consisting of......
October 10, 2020 Case Laws Service Tax

Works contract service - scope of the term Railways - stand of the tax authorities that the admitted exception of ‘railways’ was restricted to activities engaged in......
October 10, 2020 Case Laws Service Tax

Levy of service tax - mark-up’, charged by them for recovery from the holders of credit cards - The complexity of exports and the lack of distinguishment for exports......
October 10, 2020 Case Laws Service Tax

Reverse charge mechanism - information technology software service - The discharge of tax liability after incorporation of the new levy occurred during the......
October 9, 2020 Case Laws GST

Input Tax Credit (ITC) - Validity of inquiry letter - legality of Explanation to Section 17(5)(d) of the Central Goods and Services Tax Act, 2017 - exclusion of......
October 9, 2020 Case Laws Income Tax

TDS u/s 194C - payments made to C & F agents - Assessees only contend that in clear cases where separate bills have been raised by the C & F agents towards the......
October 9, 2020 Case Laws Income Tax

Adhoc disallowance of the expenditure - Whether expenses were wholly and exclusively incurred for the business of the appellant? - Assessee was unable to point out any......
October 9, 2020 Case Laws Income Tax

Determining the rate of tax u/clauses of Section 115(A)(1)(b) - Different rates of taxes in respect of royalty and piece for technical services were provided under......
October 9, 2020 Case Laws Income Tax

Exemption u/s 10(23C)(iiiab) - Once the returns of income have been held to be invalid, there is no return of income available for making any assessment. In the absence.....
October 9, 2020 Case Laws Income Tax

Disallowing repairs and maintenance expense - The expenses reimbursed by the assessee have been paid through bank account and routine expenditure in nature. Therefore,......
October 9, 2020 Case Laws Income Tax

Dividend dividend u/s.2(22)(e) - transactions between the shareholder and company - Director of the company holding 50% shares taking temporary accommodation loans from.....
October 9, 2020 Case Laws Income Tax

Interest received by the assessee u/s. 28 of the Land Acquisition Act, 1984 - it is palpable that post the decision in Ghanshyam, a statutory amendment has been carried.....
October 9, 2020 Case Laws Income Tax

Section 271AAB of the Act, contemplates imposition of a penalty pursuant to the disclosure of income in statement recorded u/s 132(4) of the Act by the assessee. It is......
October 9, 2020 Case Laws Income Tax

Addition u/s 68 - short-term advance receipts - The amount in dispute is a short term loan which was duly repaid by the assessee through proper banking channel to M/s......
October 9, 2020 Case Laws Insolvency and Bankruptcy

CIRP proceedings - piercing of Corporate Veil - seeking invoking the Bank Guarantee furnished by the parent company - the instant application is a fit case for piercing.....
October 9, 2020 Case Laws Customs

Revocation of Customs Broker License - prohibition from transferring or selling his licence - The appellant has, by subletting their licence to another person in......
October 9, 2020 Case Laws Companies Law

Direction to Respondent's Company to issue a share certificate - transfer of interest on the basis of will - since the will is executed outside the original territorial.....
October 9, 2020 Case Laws SEBI

Interpretation of Statute - it is concluded that Section 14 and Section 238 of IBC 2016 has an overriding effect on Section 28A of SEBI Act. - SEBI is not barred from......
October 9, 2020 Case Laws Insolvency and Bankruptcy

Resolution Plan - Implementation of the approved Resolution Plan is underway. - The Appellant cannot be permitted to scuttle the process at this stage and that too......
October 9, 2020 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - Salary, retention bonus and other dues of former employees - existence of debt and dispute or not - the "Doctrine of Substance over Form" is to be......
October 9, 2020 Case Laws Central Excise

SSI Exemption - clubbing the clearances of job worker with that of the appellant - under the scheme of the Act, ipso facto the duty liability is on the job worker - the.....
October 9, 2020 Case Laws VAT and Sales Tax

Requirement of pre-deposit - consideration of merit of the matter while making interim order - It can be concluded that the prima facie merits of the case are an......
October 9, 2020 Case Laws Indian Laws

Dishonor of Cheque - insufficiency of funds - section 138 of NI Act - Failure to prove the payment of money to third person on behalf of complainant - both the trial......
October 8, 2020 Case Laws GST

Profiteering - writ of prohibition restraining the respondents from taking any coercive actions - period 01st January, 2019 to 31st March, 2019 - principal profiteered......
October 8, 2020 Case Laws Income Tax

Deduction u/s 80IC - AO has held that the profits are not matching with the consumption of the electricity at the said Unit - comparison of consumption of electricity in....
October 8, 2020 Case Laws Income Tax

Addition u/s 68 - whether Tribunal is right in law in accepting the contentions of the Assessee without giving an opportunity to the AO by way of a remand - the......
October 8, 2020 Case Laws Income Tax

Exemption u/s 11 - Determination of application of income and accumulation of income - claim of deduction of the claim of assessee for an amount u/s 24(a) from rental......
October 8, 2020 Case Laws VAT and Sales Tax

Condonation of delay in filing second appeal - no sufficient cause shown for delay - the file went missing - there are no reason to disbelieve the affidavit filed. The......
October 8, 2020 Case Laws Income Tax

Levy of tax on the royalties or fees for technical services - rate of tax under the DTAA - 12% or 10% - the substitution has the effect of deleting the old rule and......
October 8, 2020 Case Laws Income Tax

Penalty u/s 27(1)(c) - bogus LTCG claim of the assessee on transaction in penny stocks of Mukesh Choksi Group of accommodation entry providers - ITAT deleted the penalty....
October 8, 2020 Case Laws Income Tax

TP Adjustment - Working capital adjustment was denied to the assessee in absence of any reliable data provided by the assessee. - outstanding debtors beyond an agreed......
October 8, 2020 Case Laws Income Tax

Penalty u/s 271(1)(c) - bogus purchases - No clinching material had been brought on record by the revenue which could disprove the authenticity of the purchases claimed.....
October 8, 2020 Case Laws Service Tax

Classification of service - Appellant has appointed for collating and uploading the details/ information, like name, educational qualification, designation, contact......
October 8, 2020 Case Laws Companies Law

Restoration of name of the Company in the Register of Companies - The Registrar of Companies, the respondent herein, is ordered to restore the original status of the......
October 8, 2020 Case Laws Customs

Classification of imported goods - Sucrose (pharmaceutical grade) - The products enumerated in the said Explanatory Notes clearly indicates that confectionary are mostly....
October 8, 2020 Case Laws Customs

Levy of ADD - imported stainless steel CR Coils having width less than 1280 mm - The act of re-export of the goods subsequent to import by mis-declaring/non-declaring......
October 8, 2020 Case Laws Service Tax

Export of services or not - intermediary, commission and marketing service fee received - the activity of the assessee-appellant rendered is ‘intermediary service’......
October 8, 2020 Case Laws Customs

Valuation of imported goods - Cut Orchid Flowers (Dendrobium Hybrid) of various varieties and colour - undervaluation of goods - Section 17(5) of the Customs Act, 1962,.....
October 7, 2020 Case Laws GST

Submission of GST TRAN-2 / TRAN-1 return - respondent No. 3, the GST Council will look into the grievance of the petitioner, so that the petitioner may file TRAN -1 form....
October 7, 2020 Case Laws GST

Cancellation of registration - Validity of SCN - Perusal of the same indicates that to such show cause notice no response can be given by any assessee. The show cause......
October 7, 2020 Case Laws Income Tax

Deemed dividend u/s 2(22)(e) - The records placed before the assessing officer clearly shows the nature of transaction between the firm and the company and it is neither....
October 7, 2020 Case Laws Income Tax

Capital Gain or business income - surplus on sale of shares and securities - the assessee has maintained distinction between trading assets and nontrading assets and has....

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F: Time limit to upload Form GST MOV-09 on GST portal

F: Stock damaged in recent floods

F: GST on Solar Plant

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C: Guidelines to Stock Exchanges, Clearing Corporations and Depositories

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F: Transfer of ITC without filing ITC-02

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

F: ITC Issue in case of Acqusition of Company in Insolvency

H: Goods matched documents like e-way bill and invoices; detention order ...

H: Goods Inspection Matches E-Way Bill, Lack of Tax Evasion Intent Quashe...

H: Income tax reassessment validity: AO initiated proceedings u/s 147 ins...

H: Reassessment Rules Interpretation: Taxpayer Wins Over Accommodation En...

H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

H: Microphone Tech Classification: Functionality Over Technology.

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

H: Claim for performance pay not an operational debt under IBC; Multiple ...

A: Director Identification Number

A: No GST is applicable for the services provided by the Director under p...

A: Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on...

A: NON-SUBMISSION OF FORM 15G/15H TO THE COMMISSIONER FOR TDS UNDER SECTI...