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Highlights / Annotations / Catch Notes For 2024

Home Highlights Year 2024

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Showing 3701 to 3750 of 9427 Records

1 ....71 72 73 747576 77 78 79........ 189

July 23, 2024 Case Laws Income Tax

Delayed PF & ESIC payment addition upheld in 143(1) intimation, Checkmate case inapplicable. Limitation not breached. Adjustment valid despite email non-receipt. (1)
July 23, 2024 Case Laws Income Tax

Approval u/s 153D must reflect due diligence, not mere formality. Scrutiny of seized docs mandatory. Safeguard against arbitrary assessment.
July 23, 2024 Case Laws Income Tax

Assessment order invalid, notice u/s 153C mandatory post-search. 6-year period from seizure date. Assessee's grounds allowed.
July 23, 2024 Case Laws Income Tax

Improper invocation of reassessment proceedings u/s 147 sans jurisdiction, as per precedents. Revenue failed to prove error.
July 23, 2024 Case Laws Income Tax

Bogus purchases reopening upheld; money laundering suspected. 6% income estimation sustained. Unexplained loans deleted; recorded in books. Penny stock losses allowed; from disclosed bank accounts.
July 23, 2024 Case Laws Income Tax

Interest income earned by a co-op society from deposits with another co-op bank is tax-deductible u/s 80P(2)(d). However, excess gratuity fund contribution is rightly disallowed.
July 23, 2024 Case Laws Income Tax

Profit set off against business loss & unabsorbed depreciation, no taxable income. Reopening futile after SC ruling. Revision quashed.
July 23, 2024 Case Laws Income Tax

Deductor's failure to deposit TDS can't deny credit to assessee. Declared income, no discrepancy found.
July 23, 2024 Case Laws Income Tax

Cash deposits during demonetization; nexus with disclosed sales established. No double addition if already assessed u/s 44AD.
July 23, 2024 Case Laws Income Tax

Transfer pricing adjustments & benchmarking required for quasi-equity transactions. Lease accounting differs for operating & finance leases. ESOP expenses deductible.
July 23, 2024 Case Laws Income Tax

Non-profit's 12A & 80G registrations cancelled citing loan default, TDS delays, PF lapses, GST dues. Tribunal set aside 12A cancellation. Approvals directed to be granted.
July 23, 2024 Case Laws Customs

Court: Quasi-judicial bodies must record reasons; vital contentions overlooked. Order set aside on Rs. 1.75 cr deposit; fresh order after hearing.
July 23, 2024 Case Laws Customs

Penalty for export violation quashed due to lack of show cause notice & hearing, violating natural justice principles.
July 23, 2024 Case Laws Customs

Importer paid duty on apples via scrips, later paid cash+interest. No fraud/evasion proven. Penalty set aside. Goods not confiscatable.
July 23, 2024 Case Laws Customs

Importers penalized for undervaluation & duty evasion racket. Forensic evidence exposed malpractice. Failed to justify waiver. Penalties upheld.
July 23, 2024 Case Laws Service Tax

Tour operator service requires planning, scheduling tours; standalone hotel booking not covered. Hotel service taxable from 01.05.2011; prior exemption & double taxation avoidance discussed.
July 23, 2024 Case Laws Indian Laws

Speedy trial a must; bail can't be denied solely on serious charges. Courts to uphold Article 21 over restrictive laws.
July 23, 2024 Case Laws Indian Laws

Criminal case quashed due to complainant's financial inability despite arbitration clause. Dispute arose from work delay, GST impact.
July 22, 2024 Case Laws GST

High Court dismissed challenge to 100% penalty order u/s 74 GST law. Limited scope under Art 226. No relief. Raise grievances via appellate remedy.
July 22, 2024 Case Laws GST

Tax liability of legal rep under CGST Act questioned. Court quashed order, remitted case for fresh hearing allowing petitioner to defend.
July 22, 2024 Case Laws GST

Notices/endorsements issued to non-existent entity quashed. Respondents free to pursue proceedings against appropriate entity as per law.
July 22, 2024 Case Laws GST

EOU entitled to IGST refund u/r 89 on exports, not u/r 96. Procedural lapses can't deny legitimate export incentives. Order set aside.
July 22, 2024 Case Laws GST

Navaratan Oil, Gold Turmeric Cream classified as drugs; Boroplus Cream as drug, not cosmetic; Sonachandi Chavanprash not a drug
July 22, 2024 Case Laws GST

Tax demand quashed due to lack of natural justice. Petitioner to remit 10% tax within 2 weeks for reconsideration.
July 22, 2024 Case Laws GST

Refund application dismissed. Option to pay or contest seizure. Chose payment, skipping adjudication. Delayed 7 years after release.
July 22, 2024 Notifications SEBI

SEBI amends AIF Regulations, adds new chapter for migrated venture capital funds with eligibility criteria, investment norms & restrictions.
July 22, 2024 Notifications Money Laundering

Reporting entities must obtain KYC Identifier, retrieve & update KYC records from Central Registry for client due diligence.
July 22, 2024 Notifications Customs

Govt imposes 17.57% countervailing duty on radial tyres above 16" for buses/trucks from China for 5 yrs to protect domestic industry.
July 22, 2024 Notifications Customs

Duty credit extended to SEZ units exporting under RoDTEP Scheme. Shipping bill/export bill required from 1st July 2024.
July 22, 2024 Circulars SEBI

Master Circular regulates ESG Rating Providers. Specifies requirements, obligations. Board responsible for compliance.
July 22, 2024 Circulars SEBI

SEBI allows ESG Rating Providers to rate products/issuers in IFSC under IFSCA guidelines. Aims to protect investors & promote market.
July 22, 2024 Circulars SEBI

SEBI allows CRAs to rate under IFSCA norms. IFSCA to oversee CRAs' IFSC ops, complaints & enforcement. Effective immediately.
July 22, 2024 Case Laws GST

ITC denied on commodities & cancelled dealers' supplies. Petitioner showed invoices, bills & returns. Order lacked findings, wrongly demanded lorry receipts. HC remanded, allowed fresh reply.
July 22, 2024 Case Laws GST

Delay in filing appeal rejected, mismatch in GSTR returns. HC directs appellate authority to consider appeal on merits if re-presented within 10 days.
July 22, 2024 Case Laws Income Tax

Tribunal dismissed appeal ex-parte; HC found no fault of assessee, remanded appeal back for fresh hearing on merits.
July 22, 2024 Case Laws Income Tax

Assessee's real estate income estimated at 8% turnover. 40% receipts allowed as agricultural income due to lack of documentation. Appeal partly allowed.
July 22, 2024 Case Laws Income Tax

Monetary limit not breached for 2006-07 to 2010-11, appeals dismissed. For 2011-12 & 2012-13, exemption u/s 12AA allowed.
July 22, 2024 Case Laws Income Tax

Reopening invalid: Unverified info, retracted statement, no independent inquiry. AO failed to verify evidence. Mere suspicion, no legal basis.
July 22, 2024 Case Laws Income Tax

Income duly accounted, corroborated by audits & returns. No unexplained investments/expenses. Rent, contractor payments substantiated. CIT(A) & ITAT upheld assessee's stand.
July 22, 2024 Case Laws Income Tax

Disallowances u/s 40(a)(ia) partly upheld. Arm's length pricing adjustments directed. Education cess disallowed. Stock exchange charges allowed.
July 22, 2024 Case Laws Income Tax

Reopening beyond 4 yrs invalid due to lack of evidence of non-disclosure. Deemed dividend u/s 2(22)(e) not required to be declared.
July 22, 2024 Case Laws Income Tax

Deduction u/s 57 against income u/s 56 disputed. Expenses apportionment challenged. Remanded to verify assessee's formula consistency. If consistent, no addition.
July 22, 2024 Case Laws Income Tax

Charitable entity granted exemption u/ss 11 & 12 for conducting exhibitions sans commercial intent. Accumulation sans Form 10 condoned. Prior period expenditure allowed.
July 22, 2024 Case Laws Income Tax

Interest/dividend income from co-op banks deductible u/s 80P(2)(d) for co-op societies. Allow deduction for interest earned from co-op banks.
July 22, 2024 Case Laws Customs

Bail granted despite recovery of diamonds & foreign currencies due to non-communication of grounds in known language, violating Art. 22(5). (5)
July 22, 2024 Case Laws Customs

Iron ore export duty paid excess, Fe content <62% on WMT basis. Refund ordered as per precedents. Impugned orders set aside.
July 22, 2024 Case Laws Customs

Helicopter import exempted from customs duty under condition 104 if used for non-scheduled air transport services.
July 22, 2024 Case Laws Customs

Refund claim not barred by limitation if paid under protest. Sec 27 recognizes protest payment, not vacation. Excludes penalty/fine refunds.
July 22, 2024 Case Laws Insolvency and Bankruptcy

Dismissal of salary arrears claim for 103 employees. No double payment. RP not liable for CoC-approved payments during CIRP.
July 22, 2024 Case Laws Service Tax

Drilling bore wells for agriculturists claimed exemption under negative list. Court upheld revenue's jurisdiction to issue show cause notice invoking extended period after inquiry.

1 ....71 72 73 747576 77 78 79........ 189

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