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Highlights / Annotations / Catch Notes For 2024

Home Highlights Year 2024

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Showing 3301 to 3350 of 9406 Records

1 ....63 64 65 666768 69 70 71........ 189

August 1, 2024 Notifications SEBI

SEBI amends delisting norms: promoter group defined, trade curbs, certifications, 90% shareholding threshold, relaxations for small firms.
August 1, 2024 Notifications Customs

Revised tariff values for edible oils, brass scrap, areca nut, gold & silver announced. Effective Aug 1, 2024.
August 1, 2024 Notifications Customs

Lab chemicals (excl. undenatured ethyl alcohol) under HS 9802 attract 10% customs duty if used for lab/R&D & not sold. Misuse attracts full duty.
August 1, 2024 Notifications Central Excise

Govt slashes Special Addl Excise Duty on Crude Oil to Rs. 4600/tonne from existing rate. Effective 1st Aug '24.
August 1, 2024 Notifications GST

Ministry of Finance establishes GST Appellate Tribunal with Principal Bench in Delhi, 36 State Benches across India from Sep 1, 2023.
August 1, 2024 Notes Bill

TDS rates reduced for 194D, 194DA, 194G, 194H, 194-IB, 194M, 194-O from 0.1-2% from 1.4.2025/1.10.2024. 194F omitted for MF/UTI repurchase from 1.10.2024. No change for salary, VDAs, lottery, race horses, property transfers, NR payments, contracts.
August 1, 2024 Notes Bill

Tax Deducted at Source (TDS) on insurance commission for non-corporates reduced from 5% to 2% from Apr 1, 2025.
August 1, 2024 Notes Bill

Lower TDS rate of 2% on life insurance payouts from Oct 1, 2024 to simplify taxation of capital gains.
August 1, 2024 Notes Bill

Lower 5% TDS on lottery commission/prizes to 2% from Oct 1, 2024 for income over Rs. 15,000.
August 1, 2024 Notes Bill

Income tax deduction on commission/brokerage slashed from 5% to 2% from Oct 1, 2024. Simplified capital gains taxation.
August 1, 2024 Notes Bill

Rent >Rs 50K/month? 5% TDS u/s 194-IB. From Oct '24, 2% TDS rate simplifies capital gains tax.
August 1, 2024 Case Laws GST

Petition maintainable despite pending appeal on different cause. Claimed ITC refund for exports Sep'19-Jan'20. Approach appellate authority.
August 1, 2024 Case Laws GST

Summoning order & NBW quashed for tax liability on services to edu. institutions (Apr'14-Jun'17) u/ss 89, 83 Finance Act'44, Sec 174 CGST Act'17, Sec 9 r/w 9(AA) Excise Act'44. Bail allowed.
August 1, 2024 Case Laws GST

Minor discrepancy in PIN code on Tax Invoices & E-Way Bill not a major violation. Penalty for technical breach unjustified.
August 1, 2024 Case Laws GST

Excess stock found, proceedings initiated u/ss 73 & 74 of UPGST Act applicable, not Section 130. Previous ruling overturned. Order set aside.
August 1, 2024 Case Laws GST

Impugned orders set aside, cases remitted for re-examination as per CBIC Circular. Petitioner not liable if no invoice raised.
August 1, 2024 Case Laws GST

Violation of natural justice - Inadequate notice, lack of physical verification, non-disclosure of visit attempt. Procedure flawed but dismissal justified due to petitioners' non-cooperation.
August 1, 2024 Case Laws GST

Consultancy for water schemes under Jal Jeevan Mission exempt if supplied before 01.01.2022 to MJP, a 'Governmental Authority'.
August 1, 2024 Case Laws GST

Supply of ad space in print media for municipal corps' ads on recruitment of medical staff exempted from GST as pure service. /2017
August 1, 2024 Case Laws GST

Services before 18.07.2022, invoiced later for price escalation, attract 18% GST despite earlier 12% rate under works contract. : , , , ,
August 1, 2024 Case Laws Income Tax

Tribunal's plenary powers prevail over return revisions. AO must consider additional grounds afresh. CBDT circular overruled.
August 1, 2024 Case Laws Income Tax

Merger effective 01.04.2012, transferee liable for transferor's taxes. Assessing non-existent transferor post-merger incorrect. Orders quashed.
August 1, 2024 Case Laws Income Tax

Faceless info u/s 135A can't lead to arbitrary 148 notice. Safeguards needed to prevent defective info. AO must consider assessee's version before issuing 148 notice.
August 1, 2024 Case Laws Income Tax

Assessee's AMP expense disallowed. TP adjustments in Trading & Networking upheld with directions for working capital, non-operational items. Royalty adjustment deleted; TNMM adoption appropriate. Expatriate salaries allowed.
August 1, 2024 Case Laws Income Tax

Assessment framed without valid notice from jurisdictional AO. ITO's notice non-est in law. No transfer order. Assessment order passed without valid notice u/s 143(2).
August 1, 2024 Case Laws Income Tax

Property details provided, accounts submitted, payment made in 2010, purchase deed given to AO. Tribunal: Assessment Order not prejudicial.
August 1, 2024 Case Laws Income Tax

Reopening assessment invalid-AO didn't record non-disclosure; 2nd reopening on share premium-based on impermissible change of opinion.
August 1, 2024 Case Laws Customs

Importer challenged confiscation, fine & penalty for alleged mis-declaration of value when show cause was for prohibited goods import.
August 1, 2024 Case Laws Customs

Centre can amend trade policy retrospectively for public interest; exports allowed on prior LCs.
August 1, 2024 Case Laws Customs

Customs authorities' waiver certificate binds CFS & shipping lines. Demurrage/detention charges payable only if importer delays clearance.
August 1, 2024 Case Laws Customs

Customs Tribunal: Import of new vehicles in CKD condition allowed through non-designated ports. 'Motor vehicles' excludes CKD units.
August 1, 2024 Case Laws Customs

Appellant's wrong 'Country-of-Origin' certificate led to duty, interest & reduced penalty. Notification benefit claim rejected. Penalty upheld for firm, set aside for proprietor.
August 1, 2024 Case Laws Companies Law

Court dismisses shell firm's plea, finds fund diversion of Rs. 78.45 cr by mastermind; unregistered deeds & lack of authority cited.
August 1, 2024 Case Laws Companies Law

Oppression plea by heirs rejected. Deceased accepted share transfer consideration, didn't challenge it for years despite SC ruling.
August 1, 2024 Case Laws Insolvency and Bankruptcy

Plaintiff claims defendants can't defend suit. Court says limitation issue needs examination. First defendant defaulted on Rs. 70L payment.
August 1, 2024 Case Laws Money Laundering

Bail denied for alleged hawala operator linked to online betting app. Court finds prima facie money laundering evidence.
August 1, 2024 Case Laws Service Tax

Franchise service ad charges reimbursed by franchisees can't be included in gross value as per CESTAT ruling. Revenue's case unconstitutional.
August 1, 2024 Case Laws Service Tax

Commission, incentives not taxable pre-2015. Reimbursements for warranty/service not taxable. No suppression, so no penalty.
August 1, 2024 Case Laws Service Tax

Service tax short paid by excluding free goods' value. Consideration = agreed amount, not value of free supplies.
August 1, 2024 Case Laws Central Excise

Invoices sans supply,CENVAT misuse.Partner confessed fraud.Pre-emptive reversal,no retraction.Burden on manufacturer.Order upheld.
August 1, 2024 Case Laws Central Excise

Imported goods destroyed by fire at 100% EOU; duty element uninsured but no negligence. As per rules, duty can't be demanded if goods lost.
August 1, 2024 Case Laws VAT and Sales Tax

Haryana GST Act allows best judgment assessment with single notice within 5 yrs, sans intimation of basis or personal hearing.
August 1, 2024 Case Laws VAT and Sales Tax

Non-paid sales tax dues don't create 1st charge over property. Secured creditors precede. Auction buyers get valid titles despite delays.
August 1, 2024 Case Laws Indian Laws

Bar Councils can only charge enrolment fee u/s 24(1)(f) Advocates Act 1961 for admission. Other fees construed as enrolment fee.
August 1, 2024 Case Laws Indian Laws

Complainants to get full refund + 12% interest p.a. from deposit date till refund for delayed project handover. Force majeure rejected. Appeal partly allowed.
July 31, 2024 Case Laws Service Tax

Sec 125(1) disqualifies if duty not quantified by 30.06.2019 & enquiry/investigation held. Firm's rep statement recorded on 06.07.2007 is "enquiry". But duty quantified as per HC order, so rejection quashed.
July 31, 2024 Circulars GST - States

Transfer of ESOP/ESPP/RSU by foreign holding co. to employees of domestic subsidiary co. sans fee/markup is GST-exempt.
July 31, 2024 Circulars DGFT

Public notice extends deadline for modifying wastage & SIONs for precious metals exports till 31.08.2024. Interim restores previous norms.
July 31, 2024 Notifications SEBI

Securities contracts rules revised: Exchanges to disclose shareholding quarterly. Core fund omitted. Schedules trimmed. Investment policy updated.
July 31, 2024 Notifications DGFT

Govt allows 1,000 MT Non-Basmati White Rice export to Namibia through NCEL under FTP 2023.

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F: Labour Cess applicable on cost of construction without GSt or gross cost

F: Merger of two GSTIN in the same State - Procedure to be followed

F: interest lability on ITC when payment to supplier is made after 180 days

F: GST on Solar Plant

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

F: Stock damaged in recent floods

F: TDS dedudted after 3 years after reporting invoices in GSTR 1

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

A: PENALTY ON DIRECTORS CONTRAVENING EXPORT REGULATIONS UNDER FOREIGN EXC...

A: Difference between “License” and “Royalty”

A: Penalty proceedings under Section 130 of the CGST Act cannot be initia...

N: Inland Container Depots for loading and unloading of goods - Seeks to ...

C: Guidelines to Stock Exchanges, Clearing Corporations and Depositories

T: Supreme Court Upholds Validity of Re-Assessment Notices Issued During ...

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

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