Home Highlights April 2012 Year 2012 This

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1. Initiation of CIRP u/s 9 - time limitation - threshold limit of amount claimed - With respect to 234 invoices, which are payable within 30 days of the invoices, 224...

2. Initiation of search and seizure u/s 132 - stock-in-trade of business cannot be seized during search and seizure operations conducted on or after June 1, 2003 - HC

3. Addition u/s 68 - large cash withdrawal by the assessee immediately before the search and seizure operation - during search and seizure operation, the cash amount was...

4. Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

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

6. Search and seizure proceedings initiated u/s 132 - a diary that was found during the search were seized recordings of various transactions with abbreviations and amounts...

7. Levy of penalty u/s 112(a) and u/s 114AA of the Customs Act, 1962 - allegation of abetment in undervaluation - evasion of Customs Duty by several syndicates of crane...

8. Validity of Search and seizure - In the instant case the record reveals that the Additional Director of Enforcement Directorate without recording the ‘reasons to...

9. Seeking release of detained goods and vehicle - generation of second E-way bill - The action of the GST officers in seizing the goods in question is evidently an act of...

10. Penalty for violation of Section 15HB of SEBI Act, 1992 - justification for the Tribunal to reduce the penalty below Rs. 1,00,000/- which is the minimum as permissible -...

11. Provisional release of detained goods - The department's insistence on a 100% bank guarantee of Rs. 25,00,000/- was deemed arbitrary and onerous, especially considering...

12. Jurisdiction of Superintendent to pass the order - Monetary limit - The High Court noted that, the circular dated 9.2.2018 limited the power of the Superintendent,...

13. Capital gain computation - Fair Market Value as on 01.04.1981 u/s 55(2)(b)(i) - the fair market value of the impugned immovable property should be adopted at Rs....

14. Maintainability of appeal - monetary limit involved in the appeal - It is thus clear from the CBEC circulars which are binding on the revenue that the monetary limit for...

15. Maintainability of appeal of the assessee - threshold amount involved in the appeal - disputed amount is less than Rs.2,00,000/- - the appellant failed to appeared for...