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Highlights / Annotations / Catch Notes For 2024

Home Highlights Year 2024

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Showing 4501 to 4550 of 9427 Records

1 ....87 88 89 909192 93 94 95........ 189

June 26, 2024 Case Laws Income Tax

ITAT ruled on TP adjustments: Selection of comparable companies on various criteria and exclusion of others. Directions issued.
June 26, 2024 Case Laws Income Tax

ITAT ruled in favor of taxpayer on various issues - Disallowed depreciation on unverified purchases deleted, goodwill depreciation allowed, TP Adjustment on LOC deleted
June 26, 2024 Case Laws Income Tax

Unexplained cash deposits in bank accounts opened by CA using fake documents not linked to assessee - Appellant wins case against wrongful additions
June 26, 2024 Case Laws Income Tax

Appellate Tribunal disallows effluent/waste disposal expenses & sales return provision. TDS liability on certain expenses to be examined. Bogus purchases deleted due to lack of response to notices.
June 26, 2024 Case Laws Income Tax

Income earned in India by Abu Dhabi Investment Authority is not taxable in India as per India-UAE treaty. Decision favors the Authority.
June 26, 2024 Case Laws Income Tax

Exemption: Application u/s 12A rejected as filed under wrong section. Reconsideration needed under correct section. Appeal allowed for future application.
June 26, 2024 Case Laws Income Tax

ITAT ruled in favor of the assessee, finding no prejudice to revenue due to revenue recognition and stock valuation methods.
June 26, 2024 Case Laws Income Tax

Appeal Tribunal found AO's assessment under limited scrutiny in compliance with CBDT instructions. Revision u/s 263 not justified.
June 26, 2024 Case Laws Income Tax

Tribunal ruled in favor of assessee on various tax issues including disallowance of expenses, foreign tax credit, & brand building expenses.
June 26, 2024 Case Laws Customs

CESTAT ruled in favor of customs broker - no penalty imposed for aiding in misclassification of goods. Unwarranted penalty of Rs.50,000/- overturned.
June 26, 2024 Case Laws Money Laundering

Bail denied in money laundering case involving bribery & proceeds of crime. No anticipatory bail due to grave nature of offence.
June 26, 2024 Case Laws Service Tax

Court ruled in favor of Tata Steel Ltd. in a tax dispute. Companies Act can't override tax laws. Input service tax can be distributed among units.
June 26, 2024 Case Laws Service Tax

The court ruled that two units of the same company can't be taxed separately for services. No justification for extended limitation period.
June 26, 2024 Case Laws Service Tax

GST Era: Appellate Tribunal rules in favor of taxpayer for refund of service tax under reverse charge mechanism.
June 26, 2024 Case Laws Central Excise

HC: CENVAT Credit - Tax options switch in 2008-09 financial year. No record of Assessee exercising Rule 6(3)(i) option. Revenue appeal dismissed.
June 26, 2024 Case Laws Central Excise

CESTAT addressed refund issues on education cess and higher education cess. Court upheld part, set aside part.
June 26, 2024 Case Laws Central Excise

Rectification of mistake: Can't fix mistakes in certain final orders. Important to follow rulings.
June 26, 2024 Case Laws Indian Laws

The court ruled that employees & Union of a Corporation can claim permanent status under Tamil Nadu law if they meet certain conditions.
June 26, 2024 Case Laws Indian Laws

HC held that no proper investigation was conducted regarding the undeclared assets of the petitioner. No basis to proceed with trial.
June 26, 2024 Case Laws Indian Laws

Court ruled notice of dishonoured cheque served, essential conditions met for proceeding. No illegality found. Onus to prove claim at trial.
June 25, 2024 Case Laws GST

High Court ruled that multiple show cause notices can be issued to an individual and their business. Proper jurisdiction must be considered.
June 25, 2024 Case Laws GST

The court decided to accept the late appeals in GST case due to valid reasons provided by the petitioner.
June 25, 2024 Case Laws GST

Penalty proceedings under GST Act initiated after premises search deemed unjustified by High Court. Orders quashed.
June 25, 2024 Case Laws GST

Court rules in favor of petitioner in recovery case. Directed to supply demanded documents within 3 days. Petition allowed to reply within 10 days.
June 25, 2024 Case Laws Income Tax

High Court held no penalty for belated TDS remittance if reasonable cause shown. Failure to pay tax quickly due to govt delay not penalized.
June 25, 2024 Case Laws Income Tax

Pre-paid sales tax = capital receipt, not taxable. Benefits from licenses = hypothetical income, not taxable until realized. Fire loss insurance claim not received = not taxable.
June 25, 2024 Case Laws Income Tax

High Court ruled in favor of taxpayer on unexplained cash credit issue, allowing telescopic benefit of income surrendered during survey.
June 25, 2024 Case Laws Income Tax

Profit from sale of agricultural land exempt from tax cannot be added to books profit for MAT calculation. ITAT decision in favor of assessee.
June 25, 2024 Case Laws Income Tax

Trust donations for capital asset not taxable income per ITAT. Donations treated as subsidy = capital receipts.
June 25, 2024 Case Laws Income Tax

Addition of bogus LTCG disallowed due to off-market purchase in cash. Exemption denied as payments were non-verifiable. Upheld by ITAT.
June 25, 2024 Case Laws Income Tax

Interest income from unutilised government grants not taxable per Tribunal's earlier order. Sponsorship expenditure treated as revenue expense.
June 25, 2024 Case Laws Income Tax

Appeal allowed due to delay explained, order cancellation without DIN void, show cause notices redundant, registration cancellation annulled.
June 25, 2024 Case Laws Income Tax

Penalty issue: AO didn't specify charges or record proper satisfaction. Vague notice invalidates penalty. Assessee wins!
June 25, 2024 Case Laws Income Tax

Exemption for income from property held for charity - 85% must be used for charity. Trust's income limited to 85%. Legal issue resolved.
June 25, 2024 Case Laws Income Tax

Trust's 80G(5) approval denied due to unclear religious expenses. Case sent back for review.
June 25, 2024 Case Laws Income Tax

Interest income from FDs with SCDCC Bank allowed as deduction under 80P(2)(a)(i). Revision under sec 263 not valid. Appeal allowed.
June 25, 2024 Case Laws Benami Property

Benami property case - Appellate Tribunal overturns decision, confirms property attachment. Lack of evidence on transaction legitimacy.
June 25, 2024 Case Laws Customs

CESTAT ruled on the classification of imported Zinc. Revenue's claim rejected due to insufficient evidence. Appeal dismissed.
June 25, 2024 Case Laws Customs

CESTAT: After NCLT approves resolution plan, appeal can't continue. Tribunal can't act beyond its powers. Appeal abates.
June 25, 2024 Case Laws Companies Law

Court held impugned order lacked prima facie case for info called u/s 206 of Companies Act, 2013. No finding of fraud or unlawful conduct by petitioner.
June 25, 2024 Case Laws Insolvency and Bankruptcy

The request to extend the Pre-packaged Insolvency Resolution Process for Kethos Tiles Private Limited was denied. Resolution plan not approved within 120 days
June 25, 2024 Case Laws Service Tax

Appellant wins case against service tax demand on construction services. Tribunal rules in favor based on evidence and limitations.
June 25, 2024 Case Laws Central Excise

Waste oils turned into usable lubricating oils not considered manufacturing. Appellant qualifies for SSI exemption.
June 24, 2024 Case Laws GST

Legal battle over tax classification: Is it a composite supply or mixed supply? Court sees abuse of process of law. HC admitted the petition for further hearing.
June 24, 2024 Case Laws GST

High Court ruled audit notice under Central GST Act valid if not same subject as State GST proceedings. No restriction in statute. Petition dismissed.
June 24, 2024 Case Laws GST

Court rules in favor of company, allowing payment of GST dues in installments. Bank account attachment lifted. Justice served
June 24, 2024 Case Laws GST

Cancellation of GST registration found unlawful due to lack of personal hearing. Order set aside. Respondents directed to review petitioner's request within two weeks.
June 24, 2024 Case Laws GST

Violation of natural justice found as petitioner not given fair hearing. Order quashed, matter remanded for review.
June 24, 2024 Case Laws Income Tax

High Court ruled on extending stay beyond 365 days by ITAT. SC uphold the earlier decision; appeal cannot be entertained.
June 24, 2024 Case Laws Income Tax

Reopening of assessment under sec 147 with no response to sec 148A notice - Petitioner's remedy is to file an appeal for document disclosure.

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H: Tax-free dividend income, interest-free funds disallowance relaxed, TD...

H: Property renovation costs wrongly disallowed; Revenue authorities over...

H: Charity trust's registration wrongly denied, court orders re-evaluatio...

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

A: Difference between “License” and “Royalty”

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