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Archive: 18 July 2024

Posts in 18 July 2024

Conditions of ‘Actual Use’ & Amendments in SION: Implications for Duty-Free Imports

July 18, 2024 843 Views 0 comment Print

CESTAT Mumbai ruling on USMS Saffron Co Inc vs Commissioner of Customs, quashing duty demand for ‘saffron’ misuse as food flavour and colour.

GST Audit under Section 65 Permitted Despite cancelled Registration

July 18, 2024 2004 Views 0 comment Print

Explore the Rajasthan High Court’s judgment on CGST audit rights post registration cancellation under Section 65. Detailed analysis and implications discussed.

Denial of CFSS, 2020 Benefit: HC Upholds Payment of Late Fees for Company Restoration

July 18, 2024 387 Views 0 comment Print

Delhi High Court judgment allows belated filing of MCA annual returns and balance sheets by Aryan Cargo Express Pvt. Ltd. Detailed analysis of the case and implications.

Challenge to a SCN Requires Lack of Jurisdiction or Insufficient Grounds

July 18, 2024 1293 Views 0 comment Print

Explore the Madras High Courts judgment on Amg Sports challenging a customs notice. Detailed analysis on jurisdiction and limitations under Customs Act.

TDS not deductible on Payments which become Taxable Due to Retrospective Amendment

July 18, 2024 1437 Views 0 comment Print

Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retrospective taxable payments. Full analysis of IT Act implications.

Meghalaya HC Orders Customs to refund ₹60 Lakhs for destroying seized betel nuts

July 18, 2024 771 Views 0 comment Print

Meghalaya High Court directs Customs to refund Rs. 60 lakhs for destroying seized betel nuts. Learn about the court’s decision and the legal proceedings involved.

GST demand due to TDS Mismatch & Petitioner’s Ignorance: HC directs re­consideration 

July 18, 2024 2529 Views 0 comment Print

Read the full text of the Madras High Court’s judgment allowing contesting of GST assessment due to accountant’s exit affecting proceedings.

No penalty for cash loan from Directors for Business Exigency: ITAT Chennai

July 18, 2024 843 Views 0 comment Print

Read the detailed analysis of ITAT Chennai’s decision on penalties under sections 269SS and 269T for Pearl Beach Promoters P. Ltd. in the case of cash loans from directors.

ITAT Upholds Section 56(2) Addition for Property Purchase Without Consideration

July 18, 2024 954 Views 0 comment Print

Read the detailed analysis of Indira Ramaiah Vs ITO case by ITAT Bangalore. ITAT upheld the addition of gift for undisclosed investments and property purchase.

Section 56(2)(viib) Not Apply to Shares Allotted at Premium to Holding Company

July 18, 2024 969 Views 0 comment Print

Read the full text of the ITAT Delhi order on Sec 56(2)(viib) and its implications for premium amounts on shares issued to holding companies.

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