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Highlights / Annotations / Catch Notes For July of 2019

Home Highlights July July 2019 Year 2019

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Showing 351 to 400 of 707 Records

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July 16, 2019 Case Laws Income Tax

Assessment u/s 153A - Addition u/s 41(1) - No material was recovered during search which could have been treated as incriminating material and would be a base for......
July 16, 2019 Case Laws Income Tax

Addition u/s 40A(3) - the finding of fact has been recorded by two revenue authorities that the payments made by the assessee on a single day did not exceed ₹......
July 16, 2019 Case Laws Income Tax

Capital gain computation - cost of acquisition - assessee was not confronted by the AO before estimating the cost of acquisition of land as on 01.04.1981 without any......
July 16, 2019 Case Laws Income Tax

Reassessment u/s 147 - failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment - AO had examined the claim for.....
July 16, 2019 Case Laws Income Tax

Revision u/s 263 - Deduction U/s. 35D - effect of omission of word ‘industrial’ by the Finance Act, 2008 w.e.f 1/04/2009 - expenses incurred prior to 1/04/2009 - since......
July 16, 2019 Case Laws Income Tax

Addition of unexplained loan - taken from a credit institution - Assessee has named the credit institutions where from he received such loans to stand testimony to their....
July 16, 2019 Case Laws Income Tax

Unexplained credit u/s. 68 - addition of share premium being in excess of NAV and balance excepted - section 56(2)(viia) and (viib) are not applicable to the instant......
July 16, 2019 Case Laws Income Tax

Revision u/s 263 - the sole reason for completing the scrutiny assessment was suspicious LTCG earned by assessee based on information received from Investigation Wing,......
July 16, 2019 Case Laws Income Tax

Allowability of interest on borrowed funds - loan taken for acquisition of share - assessee acquired shares of DPSC Ltd which is in the similar business to control stake....
July 16, 2019 Case Laws Income Tax

Penalty u/s 271(1)(c) - addition sustained by denying the exemption u/s 47(xiv) to the extent of self-generated Goodwill - all the details necessary for assessment were.....
July 16, 2019 Case Laws Income Tax

Ad-hoc disallowance of 25% of construction expenses - AO rejected the books of accounts u/s 145 - the income of the assessee should be based on average GP declared by......
July 16, 2019 Case Laws Income Tax

Addition u/s 40(a)(ia) - society has failed to deduct TDS - section 40(a)(ia), 40A(3) and section 43B falls in Chapter IV-D which are applicable for computing profits......
July 16, 2019 Case Laws Income Tax

Claim of exemption u/s 11 while filing return u/s 147 - no return originally filed - the income has to be computed on the basis of such return in accordance with the......
July 16, 2019 Case Laws Income Tax

Addition u/s 68 - share capital account received from Director by way of two cheques who was produced before AO alongwith their copy of account, balance-sheet income-tax....
July 16, 2019 Case Laws Income Tax

income of the JV as AOP - formed to secure the work, and after that, there was no involvement in the execution of the work which was done by member - members of the JV......
July 16, 2019 Case Laws Insolvency and Bankruptcy

Approval of Resolution plan under I&B Code - Operational Creditor has been paid Nil as against 27.83% to the Financial Creditor - distribution as made between the FC and....
July 16, 2019 Case Laws Central Excise

CENVAT Credit - exempted goods as scrap produced in process of manufacture of dutiable good - demand @ 6% of the value of the zinc scarp - when the zinc scrap which is a....
July 16, 2019 Case Laws Central Excise

Clandestine removal - allegation to avail the benefit of area based exemption(Rookee unit) wrongly - demand is being confirmed against Ghaziabad unit, without producing.....
July 16, 2019 Case Laws Central Excise

CENVAT Credit - ITC on Outward Transportation - letters/certificates have been obtained from the purchasers of the goods showing that the purchasers have not paid any......
July 16, 2019 Case Laws VAT and Sales Tax

Refund claim - Review of finalized assessment order - cancellation of ‘C’ form - TIN No.of dealer issued form is not working because it has migrated in GST - once the C.....
July 16, 2019 Case Laws VAT and Sales Tax

Disallowance of ITC - perversity - alternative appeal remedy - even the exercise were for the limited purpose of finding out the ground of perversity, this Court may......
July 16, 2019 Case Laws Customs

100% EOU - it is not necessary that the material which is imported into India has to be used in the manufacture of articles which are to be exported out of India. Even......
July 16, 2019 Case Laws Service Tax

Since the penalties imposed under Section 76 is upheld, penalties imposed under Section 78 cannot be justified, Hence the penalties imposed u/s 78 is set aside - In the.....
July 16, 2019 Case Laws Service Tax

Waiver of penalties imposed - Short payment of service tax - There is no suppression of fact because the issue involved is of interpretation of law as the confusion was.....
July 16, 2019 Case Laws Income Tax

Correct head of taxability of interest income - business income or income from other sources - the assessee firm had availed overdraft facility from the bank against the....
July 15, 2019 Circulars GST

Clarification regarding applicability of GST on additional / penal interest - Corrigendum issued - No GST on Penal Interest where goods purchased on installments (EMI)......
July 15, 2019 Circulars GST

Advisory for Bill of Supply issued by Composition Taxable Person - If composition taxable person fails to comply with the conditions as mentioned in rule 5 of CGST......
July 15, 2019 Case Laws Income Tax

Addition u/s 69C - capitation fee for admission in medical college - Chairman and managing trustee of college had accepted receipt of capitation fees and name of......
July 15, 2019 Case Laws Income Tax

Revision u/s 264 - payment of tax on FTS under the DTAA at wrong rate (20% instead 10%) - it is not even denied by the Department that the Petitioner committed a mistake....
July 15, 2019 Case Laws Income Tax

Revision u/s 264 against intimation/order u/s 143(1) - an intimation passed u/s 143(1) is regarded as an ‘order’ for the purpose of Section 264 - hence revision petition....
July 15, 2019 Case Laws Income Tax

Nature of expenditure - contribution made towards the construction of the new bridge - the contribution enabling its being carried on more efficiently or more profitably....
July 15, 2019 Case Laws Income Tax

Revision u/s 263 - change of opinion - in proceedings u/s 147 assessee contended that the transfer price was based on the individual assets and liabilities of the......
July 15, 2019 Case Laws Income Tax

Penalty u/s 271(1)(c) - accepted quantum addition - in penalty proceedings he offer explanation that the jewellery found during search were already offered to tax in the....
July 15, 2019 Case Laws Income Tax

Penalty u/s 271(1)(c) - deduction u/s 80IA(4) denied as industrial undertaking was not approved by the CBDT - the assessee has made a claim anticipating sanction of......
July 15, 2019 Case Laws Income Tax

Penalty u/s 272A(2)(k)/274 - delay in submitting quarterly TDS returns - assessee has submitted documentary evidence in support of serious illness of the accountant who.....
July 15, 2019 Case Laws Income Tax

Best judgment assessment u/s 144 - notice u/s.142(1) was intimated/served on the assessee informing that failure to produce audit report and books of account, the case......
July 15, 2019 Case Laws Customs

Validity of order in the absence of show cause notice (SCN) and personal hearing - Principles of natural justice - The impugned order has been passed in breach of......
July 15, 2019 Case Laws Customs

Jurisdiction of SCN - There is no reason at this stage to suspect that the adjudicating Authority would not grant a fair and reasonable hearing to the petitioner and......
July 15, 2019 Case Laws Insolvency and Bankruptcy

The shareholder has a right to decide whether approving or disapproving the decision be proceeded with the corporate insolvency resolution process under Section 10 of......
July 15, 2019 Case Laws Central Excise

Denial of CENVAT credit to the appellant on such general services (motor vehicle) on the ground that the same is covered in the exclusion clause is erroneous - credit allowed.
July 15, 2019 Case Laws Income Tax

Addition u/s 68 - receipt of share capital - assessee having furnished the complete details of the 5 parties necessary for proving their identity, genuineness and......
July 13, 2019 Circulars Customs

Entity Registration and Approval under new Sea Manifest Regulations
July 13, 2019 Circulars DGFT

Action for recovery of penalty, pending Appeals/Reviews
July 13, 2019 Case Laws GST

Detention of goods and vehicle - Section 129 (1) of KGST Act, 2017 - non-production of Part B of E-Way Bill - directed to furnish bank guaranty for the tax and penalty -....
July 13, 2019 Case Laws GST

Constitutional validity of the amendment brought in Section 140 of the CGST Act, 2017 by way of the CGST (Amendment) Act, 2018 w.e.f 1st day of July, 2017 - to......
July 13, 2019 Case Laws Income Tax

Disallowance of freight and transportation expenses - on enquiry AO found that transporters are not in existence - mere production of crossed demand drafts was not......
July 13, 2019 Case Laws Income Tax

Exemption u/s 10(23BBA) - erroneous filling of returns for A.Y. 2014-15 and 2015-16 - the petitioner firstly is an institution under HR&CE Act and Secondly, satisfies......
July 13, 2019 Case Laws Income Tax

Unexplained investment in jewellery - when Tribunal accepted such assertion which is supported by affidavits and corroborative evidences likes VDIS declaration and......
July 13, 2019 Case Laws Income Tax

Rectification u/s 254 - assessee claimed that contract were not forward contracts by virtue of proviso clauses (a)&(b) to Section 43(5) - the earlier portion of the main....
July 13, 2019 Case Laws Income Tax

TP Adjustment - exclusion of comparables - high turnover per se cannot be a ground for exclusion and that the AO has to probe into the matter further - it is functional.....

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Latest Circulars

A: Input Tax Credit on Construction Cost in relation to Immovable Propert...

C: Disposal of gold - revised mapping of Customs jurisdictions to Focal C...

N: Sea Cargo Manifest and Transshipment (Fourth Amendment) Regulations, 2024.

N: Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold ...

C: Mandatory additional qualifiers in import/export declarations in respe...

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F: Non issue of tax invoice by Registered GTA

F: Taxability of letting out commercial premises to registered person by ...

F: Free supply of machine for committed purchase of materials

N: Specifying Forms prescribed in Appendix-II of the Income Tax Rules 196...

C: Condonation of delay under clause (b) of sub-section (2) of section 11...

N: Seeks to bring in force provision of Various sections of Bihar Goods a...

A: LIMITATION TO INITIATE CORPORATE INSOLVENCY RESOLUTION PROCESS UNDER S...

A: Understanding the Importance of FSSAI Certificate Download for Food St...

A: NEW CHANGES IN INPUT TAX CREDIT

A: Orders signed by same officer in dual capacity not maintainable.

H: Accused granted bail in Rs. 8.90cr GST evasion case after depositing R...

H: Tax evasion allegations: GST fraud probe, parallel proceedings allowed.

H: Mismatch between GSTR-3B & 2A; Court accepts error, sets aside assessm...

H: High Court validates using Electronic Credit Ledger for pre-deposit pa...

H: Improper tax demand without fair hearing opportunity. Petitioner recti...

H: Breach of natural justice: Petitioner's defense rights violated, reply...

H: Pre-Deposit Amount in VAT Returns Wrongfully Denied Refund, Commercial...

H: Clerical error in GSTR-1 filing, rectification ordered; authorities to...

H: Non-speaking order on ITC mismatch and GST return discrepancies set as...

H: Unblocking ITC & revocation of GST registration suspension: Taxpayer's...

H: Tax Reassessment Validity: Harmony Between Joint Assistant Commissione...

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