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Highlights / Annotations / Catch Notes For 2021

Home Highlights Year 2021

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Showing 2951 to 3000 of 5067 Records

1 ....56 57 58 596061 62 63 64........ 102

June 5, 2021 Case Laws Income Tax

Penalty u/s 271(1)(c) - Assessee has failed to explain the source with support of evidence, but his explanation was not found to be false. The lapse committed at his end....
June 5, 2021 Case Laws Income Tax

Revision u/s 263 - Doctrine of merger - the subject-matter in question “Disallowance under section 14A r.w.r.8D” ‘ has been considered and decided by the Commissioner of....
June 5, 2021 Case Laws Income Tax

Revision u/s 263 - ‘On-money’ receipt - the view taken by the A.O. was one of the possible views and the assessment order passed by him could not be held to be erroneous....
June 5, 2021 Case Laws Income Tax

Deduction u/s 80P - Denying Section 80P deduction on parking of surplus funds in private banks and the interest received from the LIC deposits involving varying sums -......
June 5, 2021 Case Laws Income Tax

TP Adjustment - ALP adjustment qua receipt of management services - the assessee has already filed its detailed paper book in the nature of supportive evidence......
June 5, 2021 Case Laws Customs

Import of goods - refractory bricks - freely importable or restricted imports - The adjudicating authority could have contacted the other port authorities and......
June 5, 2021 Case Laws Customs

Valuation - transaction value of food supplements imported - undervaluation and mis-declaration of goods - rejection of declared value - In the present case, it is......
June 5, 2021 Case Laws Customs

Recovery of Refund of SAD - Neither the assessee can seek refund nor Revenue can proceed to recover the refund already sanctioned without challenging the earlier order......
June 5, 2021 Case Laws Companies Law

Oppression and mismanagement - Merely because the Petitioner/Applicant is a majority shareholder in the Respondent No. 1, it is not entitled or authorised to file the......
June 4, 2021 Case Laws GST

Interim release of the goods at the time of filing of the appeal - . It seems that provisions of Sections 130 and 140 of Punjab Goods Service Tax Act, 2017 are not clear....
June 4, 2021 Case Laws GST

Grant of Interim Bail - core argument of the petitioner's counsel was that the case of the petitioner would fall only under Section 132(1)(e) of the Central Goods and......
June 4, 2021 Case Laws GST

Input tax credit - non-payment of GST from April, 2018 to March 2019 - concealment of facts - initiation of inquiry under Section 74(1) of the CGST Act, 2017 -......
June 4, 2021 Case Laws Income Tax

Income from house property or income from other sources - If they are inseparable and the intention is to carry on the business of letting out the commercial property......
June 4, 2021 Case Laws Income Tax

Disallowance of deduction claimed in respect of transitional liability - scientific method adopted for ascertaining the transitional liability of Home Travel Concession.....
June 4, 2021 Case Laws Income Tax

Receipt of Interest on amount received on compulsory acquisition of land for constructing a house - If only the petitioner is able to demonstrate that the petitioner's......
June 4, 2021 Case Laws Income Tax

TP Adjustment - Treatment of export incentives as non-operating - it is not any initial period of operations of the assessee as taken note of by the DRP. It appears that....
June 4, 2021 Case Laws Income Tax

Claim of Interest u/s.36(1)(iii) - security deposits paid to director’s wife for taking her bungalow on lease - The said property had been taken on lease by the assessee....
June 4, 2021 Case Laws Income Tax

Revision u/s 263 - non examination of issue of advance given and commision expenses paid - during the assessment the assessee has filed reply to the quarry raised by the....
June 4, 2021 Case Laws Income Tax

Income from house property - Levy of deemed rent on the unsold real estate property of the assessee who is a real estate developer - nothing stops the assessing officer.....
June 4, 2021 Case Laws Income Tax

Accrual of income - ownership of land vested with the state government - Assessee is acting as an agent of the Government of Maharashtra and thus, the income in question....
June 4, 2021 Case Laws Income Tax

Revision u/s 263 - brought forward loss as deducted in computing the book profit u/s.115JB - We have been confronted with a situation in which the AO incorrectly applied....
June 4, 2021 Case Laws Income Tax

Where the TDS amount has been deposited to the Government Exchequer thorough cheque, whether the date of tendering cheque to the Government’s Banker or the date of......
June 4, 2021 Case Laws Income Tax

Capital gain of sale of asset/factory - regular sale or slump sale - It is settled law that assessee cannot be allowed to take shifting stands while it is claiming that.....
June 4, 2021 Case Laws Income Tax

Penalty u/s 271(1)(c) - addition u/s 68 - Penalty has been levied in a mechanical manner without application of mind. In our view, this is a serious mistake in the......
June 4, 2021 Case Laws Income Tax

Revision u/s 263 - addition u/s 68 - the assessee was only one of the conduit - entire amount of sales cannot be taxed in the hands of the assessee as unexplained cash......
June 4, 2021 Case Laws Central Excise

Area Based exemption - refund of Excise duty - benefit of N/N. 20/2008-Central Excise - This petition stands disposed of by directing the Principal Commissioner of GST......
June 4, 2021 Case Laws VAT and Sales Tax

The subordinate authority is not empowered to supersede the orders passed by the appellate authority and an administrative discipline requires that the subordinate......
June 4, 2021 Case Laws VAT and Sales Tax

Recovery of dues of deceased dealer - charge against property - if the Department wants to recover the dues of the deceased dealer, then the same cannot be recovered......
June 3, 2021 Case Laws GST

Transition of unutilized CENVAT credit - rectification of mistake in filing TRAN-1 form - a genuine mistake should not result in the Petitioners’ losing out on their......
June 3, 2021 Case Laws GST

Scope of the Contract - Deduction at source towards GST - Impact of increase rate of GST as 12% from existing tax as 2% or 5% - The tax liability will have to be borne......
June 3, 2021 Case Laws Income Tax

Reopening of assessment u/s 147 - excess claim of Deduction u/s 10B - The case of the respondent (Revenue) is that the petitioner was in the habit of making an excess......
June 3, 2021 Case Laws Income Tax

Reopening of assessment u/s 147 - undisclosed LTCG - when the information was specific with regard to transactions of penny stock entered into by the assessee, and the......
June 3, 2021 Case Laws Income Tax

Grant of registration u/s 12AA - The ld. CIT, Exemption had denied the grant of registration by taking into consideration that the corpus donations collected in the......
June 3, 2021 Case Laws Income Tax

Additions on account of cash deposited in bank account - receipts of gifts - since the gifts in the instant case are received from parents, brother and spouse,......
June 3, 2021 Case Laws Income Tax

Deduction u/s 54F denied - non-payment from the capital gain account within the statutory period - the assessee has not utilised the amount lying in the capital gain......
June 3, 2021 Case Laws Income Tax

Reopening of assessment u/s 147 - source of funds for investment in property - No doubt the assessee was not a regular tax payer and thus, no return could be consulted......
June 3, 2021 Case Laws Income Tax

Depreciation u/s 32(1)(ii) in respect of its “right to collect toll” - the claim of the assessee towards depreciation under Sec.32(1)(ii) in respect of its intangible......
June 3, 2021 Case Laws Income Tax

Disallowance of business loss - AO held that the intention of the assessee was only to set off the rental income against such business loss therefore, disallowed the......
June 3, 2021 Case Laws Insolvency and Bankruptcy

Initiation of CIRP - The Applicant failed to establish the "debt" and "default". Since IBC is a rigorous act, it ought to be exercised with abundant caution. There ought....
June 3, 2021 Case Laws VAT and Sales Tax

Quantum of amount to be deposited for release of detained good - Requirement of furnishing of Bank Guarantee for a sum being twice the amount of tax payable - By......
June 2, 2021 Case Laws GST

Classification of supply - rate of tax - supply of aerobic micro organism/protein derived thereof used as a biological agent to reduce the requirement of cement in all......
June 2, 2021 Case Laws GST

Cancellation of registration of petitioner - seeking specific direction to the respondent to permit the petitioner to file GSTR-3B manually while enabling credit without....
June 2, 2021 Case Laws Income Tax

Reopening of assessment u/s 147 - Non disposing of objections raised against reopening - The lapse is in clear violation of the decision of the Apex Court. We are of the....
June 2, 2021 Case Laws Income Tax

Income from other sources u/s 56(2)(vii) - ancestral property transaction - property was already acquired on power of attorney from the original/legal owners - it is......
June 2, 2021 Case Laws Income Tax

Deduction u/s 36(1)(xii) - It is for the assessee to substantiate, whether particular expenditure has been incurred for the objects and purpose of the Central......
June 2, 2021 Case Laws Income Tax

Reopening of assessment u/s 147 - Addition u/s 68 - Merely saying that assessee has a small capital of ₹ 1 lakh and nobody would invest in such a company of the......
June 2, 2021 Case Laws Income Tax

TDS u/s 195 - withholding demands under section 201 - A tax withholding liability, particularly under section 195, is a vicarious liability and its survival entirely......
June 2, 2021 Case Laws Income Tax

Unexplained cash deposits - assessee is having joint account - AO simply brushed aside the explanation and taxed the deposits in the hands of the assessee. When the......
June 2, 2021 Case Laws Income Tax

Revision u/s 263 - unexplained cash credit u/s 68 - the documents were very much available on ‘record’ when the ld PCIT examined this assessment folder. When all these......
June 2, 2021 Case Laws Income Tax

Depreciation on intangible asset being 'Right to collect toll" (HOT Assets) - the claim of the assessee towards depreciation under Sec.32(1)(ii) in respect of its......

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F: assessment order

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

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.

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

A: Director Identification Number

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