Indirect Tax Cases Quarterly Digest : 2024

Supreme Court Customs Act | Importer's Subsequent Import Bill Be Discarded If Undervalued To Previously Imported Identical Or Similar Goods: Supreme Court Case Title: M/s Global Technologies and Research versus Principal Commissioner of Customs, New Delhi (Import) Citation : 2024 LiveLaw (SC) 239 Recently, the Supreme Court held that under the Customs Act, the Importer's Bill of Entry of subsequent imported goods can be discarded if the subsequent imported goods are ...

CESTAT Cases Quarterly Digest 2024

Information From ITR/26AS Can't Be Sole Basis For Service Tax Demands: CESTAT Case Title: M/s GopiChenna Versus Commissioner of Central Tax Medchal - GST The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the service tax demand was made on the basis of third-party data, i.e., amounts reflected in income tax returns and in Form 26AS, which is not sustainable. Balloons Used For Decorations Outside The Purview Of Requirement To Satisfy...

ITAT Cases Quarterly Digest 2024

S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT Case Title: Asstt. CIT Versus Iqbal Ali Khan The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that exemption under Section 54F of the Income Tax Act is not available on property predominantly being used for religious purposes. ITAT Deletes Addition Of Unexplained Investment In Stock Valuation Difference Case Title: Ethiraj Hotel Mart Versus DCIT The...

Allahabad High Court Monthly Tax Digest: March 2024

INDEX Gurdeep Singh vs. Nagar Ayukt Nagar Nigam Moti Jheel And Another 2024 LiveLaw (AB) 131 Qamar Ahmed Kazmi vs. State of U.P. 2024 LiveLaw (AB) 133 M/S Sanyo Koreatex Pvt. Ltd. vs. Deputy Commissioner Trade Tax And Another 2024 LiveLaw (AB) 134 M/S Riadi Steels Llp vs. State Of U.P. And 4 Others 2024 LiveLaw (AB) 135 M/S Jhansi Enterprises Nandanpura Jhansi vs. State Of U.P. And Others 2024 LiveLaw (AB) 136 M/S Genius Ortho Industries vs. Union Of India And Others...

Monthly Digest Of IBC Cases: March 2024

Supreme Court IBC | Resolution Plan Approved By CoC Can't Be Withdrawn or Modified By Resolution Applicant: Supreme Court Case Title: Deccan Value Investors L.P. & Anr. Versus Dinkar Venkatasubramanian & Anr. Citation: 2024 LiveLaw (SC) 265 The Supreme Court has reiterated that once a resolution plan is approved by the Committee of Creditors (“CoC”) then it becomes impermissible for the resolution applicant to withdraw or modify the resolution plan. The Bench...

Weekly Digest Of IBC Cases: 25th To 31st March 2024

Supreme Court IBC | Resolution Plan Approved By CoC Can't Be Withdrawn or Modified By Resolution Applicant: Supreme Court Case Title: Deccan Value Investors L.P. & Anr. Versus Dinkar Venkatasubramanian & Anr. Citation: 2024 LiveLaw (SC) 265 The Supreme Court has reiterated that once a resolution plan is approved by the Committee of Creditors (“CoC”) then it becomes impermissible for the resolution applicant to withdraw or modify the resolution plan. The Bench...

Weekly Digest Of IBC Cases: 18th To 24th March 2024

NCLAT NCLAT Delhi: CIRP U/s 7 Of IBC Can Be Initiated Against An Auction Purchaser In Proceedings Under SARFAESI Act, 2002 Case Title: Anjani Kumar Prashar (Suspended Director of Grandstar Realty Pvt. Limited) vs. Manab Datta & Ors. Case No.: Company Appeal (AT) (Insolvency) No.1366 of 2023 The National Company Law Appellate Tribunal ('NCLAT') New Delhi, comprising Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member) held that Corporate Insolvency...

Supreme Court Annual Digest 2023 -Income Tax Act, 1961

2015 amendment to Section 153C of Income Tax Act will apply to searches conducted prior to the date of amendment. 2023 LiveLaw (SC) 274Amendment brought to Section 153C of the Act, 1961 vide Finance Act, 2015 shall be applicable to searches conducted under Section 132 of the Act, 1961 before 01.06.2015, i.e., the date of the amendment. (Para 11) 2023 LiveLaw (SC) 274Carrier of Goods not an 'Owner'; Bitumen not a 'valuable article' under S. 69A. 2023 LiveLaw (SC) 451Chapter X - Any determination...

2023 Annual Digest Of Indirect Tax Cases: CESTAT, AAAR & AAR

CESTAT Konkan Railway Not Liable To Pay Service Tax On Use Of Mangalore-Roha Line: CESTAT Case Title: Konkan Railway Corporation Ltd. Versus Commissioner of Service Tax, Mumbai The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that Konkan Railway is not liable to pay service tax on the use of the Mangalore-Roha Line. Excavation And Raising Of Ore Classifiable Under “Business Auxiliary Service” And Not Under “Mining Service”: CESTAT ...

2023 Annual Digest Of GST Cases

Supreme CourtState Amendments Made To VAT Acts After GST Came Into Effect Are Invalid : Supreme Court Case Title: The State of Telangana & Ors. V. M/S Tirumala Constructions., Civil Appeal No(S). 1628 Of 2023 Citation : 2023 LiveLaw (SC) 927 A Division Bench of the Supreme Court, while deciding the appeals arising from judgments of Telangana, Gujarat and Bombay High Court with respect to the validity of VAT Amendment Act in their respective states, made several significant...

2023 Annual Digest Of Direct Tax Cases: ITAT

Bogus Long-Term Capital Gains From Transaction In Penny Stocks: ITAT Upholds AdditionCase Title: Hemil Subhashbhai Shah Versus DCIT The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the addition of bogus long-term capital gains from transactions in penny stocks. Gift From Family Members Do Not Require Any Special Occasion: ITAT Deletes Addition Case Title: Shri Hemant Pandya Versus ITO The Indore Bench of the Income Tax Appellate Tribunal (ITAT) has...

Annual Digest of Arbitration Cases : 2023 (Part -II)

Supreme Court Will The Mandate Of The Tribunal Terminate Under Section 29A Unless Extended During Its Subsistence? Supreme Court To Examine The Supreme Court is set to examine an important issue related to the arbitration law that whether the mandate of the tribunal terminates upon the expiry of the time provided under Section 29A unless extended during its subsistence. The bench of Justices Sanjiv Khanna and S.V.N. Bhatti has issued notice in an SLP filed against the order of the...