Register Daily Newsletters My Bookmarks My Queries (D. Forum) My Replies (D. Forum) My Articles My Inbox (PM) Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding

   For Sales / Support:
WhatsApp WhatsApp 9911796707
Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    GST Orders Uploaded Without Proper Service Violate...     TaxTMI    Customs Duty Rates Under India-UAE CEPA to Change...     TaxTMI    Income-tax Rules Amended: Form 3CD Gets Major...     TaxTMI    SCN Issued Two Days Beyond Section 73(2) Deadline...     TaxTMI    CBIC Revises Tariff Values Under Section 14(2) for...     TaxTMI    Diamond Imprest Authorisation Form Updated with...     TaxTMI    Sea Cargo Manifest Regulations: CBIC Extends...     TaxTMI    CBIC Implements Electronic Processing for Personal...     TaxTMI    CBDT Authorizes Waiver of Interest on Delayed...     TaxTMI    GST Assessment Order Set Aside for Lacking Document...     TaxTMI    SEBI Introduces New Governance Rules for High Value...     TaxTMI    Government exempts Bengal gram from AIDC and SWS...     TaxTMI    CGST Rules Amended: Rule 164 Changes Affect Tax...     TaxTMI    SEBI Eases ESG Compliance: New Green Credit...     TaxTMI    CBIC Clarifies Section 128A Waiver Eligibility for...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Ad-hoc disallowance of 20% of the creditor value – there is no ...


Court Rejects 20% Creditor Value Reduction Due to Lack of Legal Basis in Tax Legislation.

October 8, 2013

Case Laws     Income Tax     AT

Ad-hoc disallowance of 20% of the creditor value – there is no provision in the Act to disallow 20% out of sundry creditors. - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Priority of secured creditors under the SARFAESI Act over claims by the Income Tax Department. The respondent mortgaged the property to the petitioner in 2013-14, prior...

  2. The case pertains to the valuation of imported porcelain vitrified tiles. The key points are: The assessment attained finality, but the appellant has the legal right to...

  3. Undervaluation of imported goods - Patchouli Oil - The CESTAT found that the rejection of the declared value lacked legal basis and was unsupported by evidence. The...

  4. Reopening of assessment under old regime - scope of new regime - scope of TOLA - In this detailed judgement, the Court found that the notice issued under Section 148 was...

  5. Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

  6. The case involved a challenge to a penalty imposed u/s 129 of the Goods and Service Tax Acts. The court held that without proof of intent to evade tax, such penalties...

  7. The High Court upheld the constitutional validity of the Chhattisgarh Sthaniya Kshetra me Mal Ke Pravesh Par Kar Adhiniyam, 1976 (Local Body Tax or Entry Tax Act),...

  8. The High Court reviewed a challenge to an interim order requiring appellants to deposit 20% of the remaining unpaid interest within a specified timeframe. The court held...

  9. Stay - Waiver of pre-deposit - power of Appellate Authority to insist on the assessee paying more than 20% of the disputed tax - Unless the assessee remits 20% of the...

  10. Priority of dues between the Central Excise Department and secured creditors in cases of attachment of properties for recovery. The Supreme Court held that the Central...

  11. The High Court rejected the appeal filed by the applicant due to lack of reasons for enhancing turnover, non-consideration of material evidence, and failure to obtain...

  12. The High Court reviewed a challenge to an assessment order, focusing on the violation of natural justice principles and the issue of input tax credit entitlement due to...

  13. Petition maintainability hinges on alternative remedy availability. Excess tax refund due to ignorance and legal ambiguity. Supreme Court ruled that purely legal...

  14. The Karnataka High Court addressed the issue of a Sub-Registrar refusing registration of a sale certificate due to pending Income Tax dues against the borrowers. The...

  15. The Punjab and Haryana High Court addressed the legal right of a Hindu Undivided Family (HUF) to challenge auction proceedings of properties owned by the HUF. The court...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: Commissioner's Dismissal of Appeal for 29-Day Delay Without Condonatio...
F: Disallowed Input Tax Credit Under Section 16(4) of CGST Act Due to Del...
F: Cotton in Ginned or Baled Form Not Eligible for GST Exemption as "Agri...
F: Principal Must Pay GST on Goods Sent to Absconding Job Worker Not Retu...
F: GST Audits Have No Time Limitation Under Section 65, Unlike Show Cause...
F: Manufacturing for Export: Legal Framework for SKD Assembly Under Forei...
A: Input Tax Credit Cannot Be Denied to Purchasers Due to Suppliers' Cler...
A: New Income Tax Regime: Revised Slabs, Higher Rebates, and Relaxed TDS ...
A: Balance Sheets as Debt Acknowledgment: How Signing Date Affects Limita...
A: Annual Filing Requirements: Companies Must Submit AOC 4 and MGT 7 Unde...
A: Export Promotion in India: Comparing Advance Authorization and EPCG Sc...
A: Managing Currency and Foreign Exchange Risks in International Trade: H...
A: Economic Influence: How Tariffs, Sanctions, and Export Controls Shape ...
A: Unauthorized Use of "Make in India" Logo Without DPIIT Permission Viol...
A: Government's "Make in India" Logo Requires Explicit DPIIT Permission B...
A: China's Reforestation Success: Key Lessons for India in Combating Dese...
A: India's Economic Roadmap: Achieving 7-8% Growth Through Manufacturing,...
A: Kanauj's Ancient Perfume Industry Faces Modern Challenges While Herita...
H: Managing Director's Remuneration Within Companies Act Limits Not Exces...
H: Tax Authorities Cannot Disallow Legitimate Journal Entries Without Evi...
H: Compounding of FEMA Offenses Cannot Be Claimed as Right After Adjudica...
H: Non-bailable warrants quashed in GST evasion case as accused previousl...
H: GST Amnesty Scheme Under Section 128(A) Offers Relief from Interest an...
H: GST Penalties Reversed: Authority Must Compensate Hindu Undivided Fami...
H: GST Assessment Order Challenged as Non-Speaking: Petitioner Granted Li...
H: Revenue Department Must Grant Personal Hearing Before Recovery of Exce...
H: Writ Appeal Partly Allowed: Court Sets Aside Automatic Restoration Cla...
H: Limitation Period for Returns After GST Best Judgment Assessment Is Di...
H: GST Taxpayer Granted Two Weeks to File Rectification Application Under...
H: Assessment Order Without Officer's Signature and DIN Ruled Invalid Und...