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Highlights / Annotations / Catch Notes For 2024

Home Highlights Year 2024

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Showing 4951 to 5000 of 9427 Records

1 ....96 97 98 99100101 102 103 104........ 189

June 11, 2024 Case Laws Income Tax

Notice u/s 148 to reopen assessment quashed. AO failed to prove alleged receipt of Rs. 35 Lakh. Assessee appeal allowed.
June 11, 2024 Case Laws Income Tax

Income from software license fees not taxable as royalty in India. No liability for tax resident of Denmark. Appeal allowed.
June 11, 2024 Case Laws Income Tax

Assessment u/s 153A needs incriminating material from search. Completed assessments can't be changed without it.
June 11, 2024 Case Laws Income Tax

Revision u/s 263 - ITAT ruled in favor of the assessee on issues of limited scrutiny assessment, deduction u/s 80JJAA, and share issuance.
June 11, 2024 Case Laws Income Tax

Revision u/s 263: Interest income on Core Settlement Guarantee Fund not taxable. ICCL controls funds. Income exempt u/s 10(23EE).
June 11, 2024 Case Laws Income Tax

Reopening of assessment due to unexplained cash deposits. Assessee failed to provide details. Tribunal limits income estimation to 15%.
June 11, 2024 Case Laws Income Tax

Penalty u/s 271(1)(c) not justified for addition on closing stock valuation. No clear findings on concealment. Assessee's explanation deemed bona fide.
June 11, 2024 Case Laws Income Tax

ITAT ruled in favor of the assessee on TP Adjustment issue. Additional evidences admitted for further examination. Proviso to Section 92C(2) benefit allowed.
June 11, 2024 Case Laws Income Tax

Assessee not penalized for alleged tax evasion due to lack of concrete evidence. Penalty deleted.
June 11, 2024 Case Laws Income Tax

Appellate Tribunal ruled against penalty for cash deposits below Rs. 20,000 as unexplained. Sale transactions legit.
June 11, 2024 Case Laws Income Tax

Penalty notice u/s 271(1)(c) upheld for unexplained trading cost difference. Assessee's explanation inconsistent. Penalty imposed.
June 11, 2024 Case Laws Income Tax

Approval u/s. 153D must be granted after thorough review, not mechanically. Failure to do so vitiates assessment orders.
June 11, 2024 Case Laws Customs

High Court ruled that importer evaded duty on over Rs. 50 Lakhs worth of gold, not exported as required. No bail granted.
June 11, 2024 Case Laws Customs

Jurisdiction, penalty, and confiscation of gold jewelry under Customs Act. Show cause notice timing valid due to COVID. No appeal filed. Penalty upheld.
June 11, 2024 Case Laws Customs

CESTAT ruled that the value of imported used goods can be enhanced based on Chartered Engineer Certificate. No error in rejecting transaction value.
June 11, 2024 Case Laws Customs

CESTAT ruled on classification of imported goods under different tariff headings. No mis-declaration found. Penalties set aside.
June 11, 2024 Case Laws Customs

CESTAT ruled against absolute confiscation of foreign cigarettes due to packaging non-compliance. Confiscation reduced to â‚¹50,000.
June 11, 2024 Case Laws Customs

CESTAT on valuation: Declared value vs actual payment to seller. Exchange rate on Bill of Entry date. Exemption upheld for fertilizer use.
June 11, 2024 Case Laws Money Laundering

Supreme Court ruled improper bail grant in Money Laundering case. Bench not assigned case. Bail set aside.
June 11, 2024 Case Laws Service Tax

CESTAT ruled in favor of the appellant on issues of CENVAT Credit reversal and time limitation. No suppression found.
June 11, 2024 Case Laws Service Tax

CESTAT ruled that once NCLT approves Resolution Plan, appeal abates. Similar cases considered. Appeal disposed of as abated.
June 11, 2024 Case Laws Central Excise

Adjudication after 7 years barred. Elasticity of time frame "where it is possible to do so", u/s 11A(11) clarified. Legislature's intent emphasized.
June 11, 2024 Case Laws Central Excise

CESTAT ruled in favor of refunding interest under Section 72 of Finance Act, 2010 for retrospective amendment. Tribunal upheld interest on excess credit.
June 11, 2024 Case Laws VAT and Sales Tax

High Court: Challenge to summons for documents under TNVAT Act dismissed. Dealer's compliance with Section 22(2) to be ascertained.
June 11, 2024 Case Laws VAT and Sales Tax

Claim for input tax credit rejected due to loss of goods not used in business. Plain reading of law shows credit repayable.
June 11, 2024 Case Laws Indian Laws

Appellants entitled to higher compensation due to deceased's multiple income sources. Compensation increased to â‚¹35,000/month.
June 11, 2024 Case Laws Indian Laws

Dishonour of Cheque: Time limitation issue clarified. Order set aside, proceedings restored to Trial Court.
June 11, 2024 Case Laws Indian Laws

Court rules in favor of auction purchaser in loan default case. Respondent aware of auction notice. Sale upheld.
June 11, 2024 Case Laws Indian Laws

Accused acquitted in cheque dishonour case u/s 138 NI Act. No proof of debt. Accused paid instalments. Appeal dismissed.
June 10, 2024 Circulars SEBI

New rules for Registrars to an Issue & Share Transfer Agents are out! Stay updated with the latest guidelines. Protecting investors' interests.
June 10, 2024 Circulars SEBI

Investment made easier! No more freezing of accounts for not submitting 'Choice of Nomination'. Just 3 fields needed for updates.
June 10, 2024 Circulars Customs

Important notice for coastal goods movement: Follow Circulars by CBIC/CBEC for compliance. E-way bill & registrations mandatory.
June 10, 2024 Notifications DGFT

New rules allow Advance Authorisation holders, EOU, and SEZ to import items under Quality Control Orders exemption. EO period now 180 days.
June 10, 2024 Circulars FEMA

Investing in Overseas Funds just got clearer! New rules allow Indian entities & individuals to invest in regulated funds abroad.
June 10, 2024 Circulars Customs

Customs duty on Display Assembly of a mobile phone clarified. Parts included/excluded for concessional rate.
June 10, 2024 Case Laws VAT and Sales Tax

Court rules no collection charges for petitioner in revenue recovery case. Charges not justified under law. Petitioner to be refunded if paid.
June 10, 2024 Case Laws Income Tax

ITAT ruled against the assessee on various issues including disallowance of expenses and leave encashment.
June 10, 2024 Case Laws Central Excise

CESTAT ruled in favor of the appellant regarding undervaluation of power units supplied. Duty & interest recalculated beyond time limit. Penalty not sustainable.
June 10, 2024 Case Laws Central Excise

CESTAT ruled on classification of by-products like hard pitch & soft pitch under Central Excise Tariff Act. Order upheld, appeal dismissed.
June 10, 2024 Case Laws Central Excise

CESTAT ruled in favor of the appellant for final assessment methodology. CA certificate accepted. No suppression of facts.
June 10, 2024 Case Laws VAT and Sales Tax

Recovery action challenged after 10 years. Petitioner didn't appeal timely. Writ Petition dismissed.
June 10, 2024 Case Laws VAT and Sales Tax

High Court ruled that shipping goods to Rotterdam isn't a sale if over 100 days pass before buyer lifts them. Tribunal erred in not addressing key issues. Dealer entitled to 4% tax rate on Qualis car sale.
June 10, 2024 Case Laws VAT and Sales Tax

The court decided orders refunding penalty amount with interest. Defendants liable to pay Rs. 1,68,301.58.
June 10, 2024 Case Laws VAT and Sales Tax

Petitioner overpaid entry tax on packing materials. Court says follow refund process.
June 10, 2024 Case Laws GST

Petitioner didn't appeal tax order in time. Court says no merit in Writ Petition. Can file appeal within 30 days.
June 10, 2024 Case Laws GST

Petition challenging delay in filing appeal & non-deposit under WBGST Act allowed. Order set aside, matter remanded for appeal hearing.
June 10, 2024 Case Laws GST

The court clarified that cash seized during search & seizure is not included in the term "things" under CGST Act.
June 10, 2024 Case Laws Income Tax

ITAT rules in favor of taxpayer in unsecured loan case. Lenders' creditworthiness and transactions deemed genuine.
June 10, 2024 Case Laws Income Tax

ITAT ruled in favor of the assessee on TP adjustment for guarantee commission & ESOP expense. No disallowance u/s 14A as no exempt income earned.
June 10, 2024 Case Laws Income Tax

Penalty under section 271D not valid - AO didn't record satisfaction. Penalty quashed.

1 ....96 97 98 99100101 102 103 104........ 189

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