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Highlights / Annotations / Catch Notes For 2024

Home Highlights Year 2024

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Showing 4201 to 4250 of 9427 Records

1 ....81 82 83 848586 87 88 89........ 189

July 5, 2024 Case Laws Income Tax

Reassessment notice validly issued within 6-yr limit. AO recorded reasons before sanction & issued notice timely.
July 5, 2024 Case Laws Income Tax

Flawed valuation report benefits company's interest. Continuous losses lead to negative net worth. Share premium rightly taxed as income.
July 5, 2024 Case Laws Income Tax

TP adjustments: Equity broking markup tweaked, port fee allowed, no AE service markup. Program trades brokerage disallowed. Interest expense allowed due to interest-free funds.
July 5, 2024 Case Laws Income Tax

Compensation for rights transfer rightly taxed as income, not capital gains. Notional rent & interest income additions upheld. Deduction claim rejected due to lack of evidence.
July 5, 2024 Case Laws Customs

Monetary threshold for customs adjudication examined. Appellate authority rightly accepted lack of jurisdiction. Remand permissible. Limitation issue left open.
July 5, 2024 Case Laws Insolvency and Bankruptcy

Debt & default established through substantive evidence. Loan purpose irrelevant. Stamping issue inconsequential. AA's dismissal erroneous. Appeal allowed.
July 5, 2024 Case Laws Service Tax

Insurance firms can avail CENVAT credit on invoices with service tax paid. Coordinate benches bound by precedents. Dissent & referral to 3rd member impermissible.
July 5, 2024 Case Laws Service Tax

IT-enabled services resale value can't exclude reimbursable expenses. Gross customer charge basis for principal's price u/s 67. Revenue neutrality no defense for limitation.
July 5, 2024 Case Laws Central Excise

Fatty Acid Pitch (FAP) exemption wrongly denied citing fuel use without evidence. Lack of inquiry despite details provided. Invoking extended period sans proof is untenable.
July 5, 2024 Case Laws Indian Laws

Petitions dismissed for delay, laches & not availing s.397 CrPC remedy. S.482 powers can't override specific provisions like s.397(2).
July 4, 2024 Circulars Central Excise

Revised monetary limits for adjudication of show cause notices in Central Excise for tobacco & tobacco products. Applicable from 01.07.2017.
July 4, 2024 Circulars FEMA

All cross-border remittances now require Form A2, regardless of value. Earlier exemption up to $25K withdrawn. ensure compliance.
July 4, 2024 Circulars FEMA

Authorised Dealers can facilitate unlimited remittances based on Form A2 online/physically, subject to FEMA conditions. ADs to frame guidelines with Board approval.
July 4, 2024 Circulars SEBI

Master Circular consolidates debt securities issuance & listing norms. Supersedes previous circulars. Compliance mandatory for recognized entities.
July 4, 2024 Circulars SEBI

SEBI permits private placement of debt securities & preference shares at â‚¹10,000 face value with conditions like merchant banker, interest/dividend, & credit rating.
July 4, 2024 Circulars GST - States

Circular: 1) Car leasing sans operator not 'same line'. 2) Electricity reimbursed by lessees taxable. 3) Malted barley job work 5% GST. 4) District Mineral Trusts exempt. 5) CPWD landscaping exempt.
July 4, 2024 Circulars GST - States

Strict SOP for GST registration cancellation of fraudulent taxpayers. Curbing fake invoices, wrongful ITC claims. Evidence-based scrutiny, reasoned orders.
July 4, 2024 Circulars GST - States

Services by directors in personal capacity exempt from RCM. Official services attract RCM. Cinema food taxed at 5% GST if unbundled.
July 4, 2024 Circulars GST - States

KGST Act: Recipient can avail ITC on RCM supplies from unregistered suppliers in FY when invoice issued, subject to conditions.
July 4, 2024 Circulars GST - States

Import services from related parties: Recipient's invoice value deemed open market value if full ITC eligible. Nil value treated as open market value if no invoice.
July 4, 2024 Circulars GST - States

Circular clarifies special procedure for manufacturers. Allows substitutions, certifications for unavailable details. Sale price for non-MRP goods. Eligibility criteria defined. Exemptions apply.
July 4, 2024 Case Laws GST

Petition dismissed for delay. Approach Appellate Commissioner after depositing 25% disputed tax (10% mandatory + 15% for delay). Deposit within 30 days.
July 4, 2024 Case Laws GST

Order quashed for denying oral hearing before adverse assessment. Mandatory hearing in heavy liability cases. Fresh notice to petitioner in 2 weeks.
July 4, 2024 Case Laws GST

Tax notice missed online, court allows fresh hearing on depositing 10% tax. Order quashed, case remanded for new decision.
July 4, 2024 Case Laws GST

Mismatch in tax credits claimed by petitioner. Court granted partial relief by cancelling tax demand, subject to Rs. 10,000 deposit. Fresh hearing ordered.
July 4, 2024 Case Laws GST

Tax appeal allowed after deposit. Authority to decide swiftly within 3 months.
July 4, 2024 Case Laws GST

Tax demand overlapped for same years. But lack of response to notices requires fresh orders after proper consideration.
July 4, 2024 Case Laws GST

Applicant granted bail for false tax claims from fake firms! Multiple firms, no real business. High Court cites ARNESH KUMAR case.
July 4, 2024 Case Laws GST

Petitioner's GST reg was cancelled for not filing returns. High Court found error, remitted for fresh orders. Petitioner must deposit 10% disputed tax for rehearing.
July 4, 2024 Case Laws GST

Petitioner's appeal under GST Act rejected. Delay in filing justified, lack of online response opportunity cited. Directions for decide the case of merit issued.
July 4, 2024 Case Laws GST

High Court clarifies interest on delayed tax payment only applicable from due date to actual deposit in cash ledger. Precedents cited. Petition allowed.
July 4, 2024 Case Laws GST

Court rules denial of oral hearing violates natural justice. Even if not requested, authority must provide it before adverse decision.
July 4, 2024 Case Laws GST

Court said pay 20% of tax, not interest! Follow statutes for fair rulings. Appeal allowed.
July 4, 2024 Case Laws Income Tax

Court rules no tax on software royalties to foreign resident, citing DTAA. No copyright rights = no tax deduction.
July 4, 2024 Case Laws Income Tax

Court clarifies no need to deduct tax on payments to non-residents. Previous decision accepted. Temple repairs and school construction expenses not taxable.
July 4, 2024 Case Laws Income Tax

High Court decision: Trust denied exemption due to filing error. Trust eligible for exemption. Reconsideration ordered within 3 months.
July 4, 2024 Case Laws Income Tax

The Tribunal decided the property purchase right transfer as long-term gain. Deduction claim u/s 54F allowed.
July 4, 2024 Case Laws Income Tax

Employees' foreign travel reimbursement is taxable. TDS liable to be deducted. Similar case precedent cited.
July 4, 2024 Case Laws Income Tax

Appellate Tribunal rules in favor of assessee on income classification issue, penalty deemed unjustified.
July 4, 2024 Case Laws Income Tax

ITAT ruled no speculative transactions as actual delivery to buyer. Interest disallowance rejected for business purposes. Precedent followed.
July 4, 2024 Case Laws Income Tax

Society wins tax appeal! Tribunal says society exempt from sec.13 rules. CBDT Circular supports decision. Assessing Officer's disallowance void.
July 4, 2024 Case Laws Income Tax

The tax tribunal overturned a decision to reassess a taxpayer based on incorrect info from a bank.
July 4, 2024 Case Laws Income Tax

Income from investments in non-cooperative banks not eligible for deduction under sec 80P(2)(d). Assessing Officer to consider other sections or deduction u/s 57.
July 4, 2024 Case Laws Customs

High Court case on denial of cross-examination for supari classification. Importance of cross-examination emphasized. Petitioner can appeal within 10 days.
July 4, 2024 Case Laws Customs

Tribunal boosts value of imported goods due to undervaluation alert, citing lack of consideration for key documents.
July 4, 2024 Case Laws Customs

In a customs case, penalties & confiscation found unjustified due to procedural errors. Commissioner exceeded authority.
July 4, 2024 Case Laws Customs

Dispute over customs duty refund denied by tribunal. Appeal assessments before refund claim. All assessments appealable.
July 4, 2024 Case Laws Customs

Dispute over duty on goods from Zanzibar, warehoused in UAE. Importer lacked proof of direct dispatch. Errors in notice highlighted. Case remanded for fresh decision.
July 4, 2024 Case Laws Customs

Importer appeal dismissed by CESTAT due to value below Rs. 50 lakhs limit set by CBIC.
July 4, 2024 Case Laws Companies Law

In a liquidation case, claims should be decided until provisional liquidator's appointment. Bank of Baroda's dual claims were valid.

1 ....81 82 83 848586 87 88 89........ 189

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