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Highlights / Annotations / Catch Notes For 2024

Home Highlights Year 2024

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Showing 4651 to 4700 of 9427 Records

1 ....90 91 92 939495 96 97 98........ 189

June 20, 2024 Case Laws Income Tax

Disallowance of foreign tax credit due to late filing of Form 67. Tribunal allows credit following legal precedent.
June 20, 2024 Case Laws Income Tax

ITAT says corporate guarantee to AE is not a financial service by assessee. No profit shifting or burden. Interest adjustment on AEs' receivables unjustified.
June 20, 2024 Case Laws Income Tax

ITAT ruled in favor of the taxpayer, allowing depreciation claimed on software & network equipment purchases.
June 20, 2024 Case Laws Income Tax

Income from derivatives transaction considered under presumptive taxation u/s 44AD. AO failed to justify adding 50% profit rate. Appeal allowed.
June 20, 2024 Case Laws Income Tax

Assessee, a Singapore company, not liable to pay tax in India on shipping income under India-Singapore Treaty. AO directed to delete additions.
June 20, 2024 Case Laws Income Tax

Issues regarding provision of bad debts not recorded in books of account. Rectification under sec. 154 allowed. Decision upheld by Tribunal.
June 20, 2024 Case Laws Income Tax

Issues on transfer pricing adjustment u/s 92 resolved in favor of Appellant. Correct comparison & method accepted. Additional ground admitted for deduction u/s 80-IA for further consideration.
June 20, 2024 Case Laws Income Tax

Appellate Tribunal decision: Applicant trying to reargue case without showing any mistake. Tribunal findings stand. No manifest error found.
June 20, 2024 Case Laws Income Tax

ITAT ruled that hire payments to Belgium are not taxable due to DTAA. TP adjustment using CUP method allowed based on consistency. TDS credit to be verified.
June 20, 2024 Case Laws Income Tax

ITAT: No notional interest disallowance as no advances existed during AY 2010-11. CIT(A)'s deletion of inflated import purchases upheld. New claims allowed in abated assessment.
June 20, 2024 Case Laws Income Tax

Assessing Officer's order not erroneous or prejudicial to revenue. Allegation of Lack of inquiry by LD PCIT fails. Order quashed.
June 20, 2024 Case Laws Income Tax

Undisclosed sales issue: Tribunal rejects Revenue's request for higher profit rate, stresses need for reasonable basis.
June 20, 2024 Case Laws Income Tax

Tax penalty under section 271B deleted by Appellate Tribunal due to genuine inadvertent mistake in filing tax audit report on time.
June 20, 2024 Case Laws Income Tax

Interest paid for delayed payments to broker, not subject to TDS u/s 194A. Decision in favor of assessee.
June 20, 2024 Case Laws Income Tax

Assessment reopened after 4 years based on same old info. No new material found. Assessee appeal allowed.
June 20, 2024 Case Laws Customs

CESTAT ruled in favor of the appellant regarding valuation of imported Bovine Leather Upholster Sofa. Declared value upheld.
June 20, 2024 Case Laws Customs

CESTAT ruled that if goods aren't liable for confiscation under Customs Act 1962, penalty can't be imposed under u/s 112.
June 20, 2024 Case Laws Customs

CESTAT decided: Imported goods, parts for Ball Pen Tips, classified under specific heading. IGST @12% applicable. CBIC Circular supports decision.
June 20, 2024 Case Laws Service Tax

CESTAT ruled appellant provided Legal Consultancy service, not Business Auxiliary Service. Service recipient not liable for service tax.
June 20, 2024 Case Laws Service Tax

Refund claims for service tax were rejected due to lack of export compliance and nexus between input and output services. Show-cause and order valid. No benefit for non-exported services.
June 20, 2024 Case Laws Indian Laws

Court upholds presumption u/s 118 & 139 of N.I. Act in dishonored cheque case. Accused failed to rebut statutory presumption. Revision dismissed.
June 20, 2024 Case Laws Indian Laws

Willful defaulters wrongly declared without notice or hearing, violating RBI rules. Orders quashed for lack of natural justice.
June 19, 2024 Circulars DGFT

Government is seeking feedback on changes to export obligations for spices, drugs, and more. Have your say within 15 days!
June 19, 2024 Case Laws GST

High Court: In a job work case, value determination challenge u/s 107 WBGST/CGST Act. E-way bill issue. Petitioner to disclose all job work docs for redetermination.
June 19, 2024 Case Laws GST

Bagheri Unit claimed budgetary support not Baga Unit. Order set aside for fresh decision. Petition remanded for personal hearing.
June 19, 2024 Case Laws GST

Denial of GST refund due to improper application filing. Court cites relevant rules for manual applications. Petitioner's case remanded for fresh review.
June 19, 2024 Case Laws GST

Petitioner's GST reg. cancelled due to non-functional premises. Violation of rules found, reg. restored retrospectively.
June 19, 2024 Case Laws GST

Pet. to pay Rs.10,00,000/- by 15.04.2024 for interest liability. Installments for balance due. Bank attachment withdrawn.
June 19, 2024 Case Laws GST

Petitioner's GST registration cancellation challenged: Lack of access to portal & computer skills. Assessment order quashed, 10% tax remittance required.
June 19, 2024 Case Laws GST

Cancellation of GST registration due to non-payment of interest can be revoked under section 30. Payment of Rs.6,19,258.85 required.
June 19, 2024 Case Laws GST

AAR decided Uttarakhand Peyjal Nigam not a local authority but a governmental authority; not entitled to ITC.
June 19, 2024 Case Laws Income Tax

Reopening assessment under section 147 lacked 'reason to believe'. No link found between info and belief. Case quashed.
June 19, 2024 Case Laws Income Tax

Review application concerning assessment of anonymous donations by a trust. Applicant failed to prove donations were not anonymous. Appeal dismissed. No substantial question of law.
June 19, 2024 Case Laws Income Tax

Validity of assessment transfer u/s 153A questioned. Notice given for objections, but no reply from petitioner. Transfer to Kozhikode upheld.
June 19, 2024 Case Laws Income Tax

The appellate tribunal upheld the validity of assessment reopening u/s 147, adding income u/s 68. Assessee failed to prove legitimacy of transactions. Tribunal denied interference.
June 19, 2024 Case Laws Income Tax

Income Tax Appellate Tribunal held that IHG India's licensing fees for trademark rights are taxable from April 2019. Marketing services not taxable. Verify Travel Agent Commission.
June 19, 2024 Case Laws Income Tax

Income for services in China taxable in China, not India. Exempt under DTAA. Tax resident of China. Tax paid in China.
June 19, 2024 Case Laws Income Tax

Stay granted for disputed demand subject to deposit or security. Stay is not a blanket order. Revenue's interest secured. Cooperation required.
June 19, 2024 Case Laws Income Tax

The penalty notice issued under the wrong section was invalid and not in accordance with the law. Penalty levied is unsustainable.
June 19, 2024 Case Laws Income Tax

Tax Appellate Tribunal found taxpayer filed audit report late but within due date. Supreme Court ruling not applicable. Amendment not relevant. Deduction allowed.
June 19, 2024 Case Laws Income Tax

ITAT ruled on TP adjustment for brokerage commission, royalty/branding fee, indirect cost, outstanding securities tax, TDS issues.
June 19, 2024 Case Laws Income Tax

Sales commission received by assessee not Fees for Technical Services - ITAT holds income not taxable.
June 19, 2024 Case Laws Income Tax

ITAT ruled in favor of assessee on TDS issue for foreign remittances. No withholding tax on payments for specific services.
June 19, 2024 Case Laws Income Tax

Assessee entitled to exemption u/s 11/12 even if audit report not filed with return. CBDT Circular allows for delay.
June 19, 2024 Case Laws Income Tax

Applicability of cost of bonus shares clarified under Section 55(2)(aa)(B)(iiia). Bonus shares allotted before 1.4.2001 to be treated at nil cost.
June 19, 2024 Case Laws Income Tax

TDS u/s 195: Payments made for interconnectivity utility charges are not 'Royalty' under tax laws. No transfer of intellectual property rights.
June 19, 2024 Case Laws Income Tax

Interest u/s. 234B for tax defaults assessed only once from April 2010 to March 2013. No need for extra charges. AO directed to follow order.
June 19, 2024 Case Laws Income Tax

Rejection of trust's registration application u/s 12AB due to limiting benefits to "SUNNI MUSLIMS". Tribunal orders reconsideration.
June 19, 2024 Case Laws Income Tax

ITAT ruled legality of assessment u/s 153A without search or Panchnama. No incriminating material found during search. Unexplained cash credit added without proper investigation, hence deletion.
June 19, 2024 Case Laws Income Tax

Trust timely applied for registration u/s. 80G(5)(iii). Provisional registration valid â€“ no violation found. Applicant eligible.

1 ....90 91 92 939495 96 97 98........ 189

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