Home Highlights February 2015 Year 2015 This

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1. Penalty for cash loan/ transactions against primary co-operatives - Section 269SS / 269T - Relief given to Primary Agricultural Credit Societies (“PACS”) and Primary...

2. Levy of penalty - There are no reason why the said benefit cannot be extended to the penalty imposed under Section 76, since both the Sections are to be read along with...

3. Reduction in penalty imposed - Validity of order passed by CESTAT - The maximum possible penalty was ₹ 15.30 crores but the adjudicating authority imposed a total...

4. Imposition of penalty - Delay in filing of report due to accountant leaving the job abruptly - the penalty imposed of ₹ 1,70,747/- in the first appellate order...

5. Addition made u/s. 56(2)(vii)(b)(ii) - Purchase of flat below Fair Market value - adequate consideration - the difference between sale consideration shown by the...

6. Levy of Redemption Fine and penalty - Confiscation of imported goods - The goods imported were restricted goods and could have been imported on the basis of the Licence...

7. Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) (Amendment) Rules, 2019

8. Depositories (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) (Amendment) Rules, 2019

9. Levy of penalty in case of professional or other misconduct - minimum penalty reduced from ₹ 10 lakh rupees to 5 lakh rupees - Section 132(4) of the Companies Act, 2013

10. TDS u/s 194C - Addition u/s 201/201(1A) - TDS not deducted from the payments made to contractors under various schemes - The proviso clearly states that nothing...

11. Levy of penalty on Proprietor of the Firm under Rule 26(2) of Central Excise Rules, 2002 - fraudulent availment of CENVAT Credit - Taking note of the fact that penalty...

12. ₹ 1,10,828 crore GST Gross Revenue collected for January, 2020

13. Determination of insolvency resolution costs - payments of costs and expenses incurred by the Resolution Professional (RP) - Neither the basis of the claim nor its...

14. Provisional attachment of escrow bank account - shares of the petitioner / contractor - Joint Escrow account opened by the Principal - GST Evasion - we lift the...

15. Quantum of cost imposed by High Court on the GST officer - intent to evade tax or not - allegation that the e-way bill had expired a day earlier - traffic blockage due...