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Highlights / Annotations / Catch Notes For December of 2020

Home Highlights December December 2020 Year 2020

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Showing 1 to 50 of 449 Records

12 3 4 5........ 9

December 31, 2020 Circulars Customs

Courier Imports/Exports Rules Amended to Streamline COVID-19 Vaccine Movement via ECCS Locations.
December 31, 2020 Notifications Customs

New Regulations Streamline Electronic Declarations for Courier Imports/Exports, Enhancing Customs Efficiency and Reducing Administrative Burdens.
December 31, 2020 Notifications GST

Deadline for CGST Act Section 44 Annual Return for FY 2019-20 Extended to February 28, 2021.
December 31, 2020 Case Laws GST NAPA

Cinema Ticket Profiteering: Respondent Violated GST Reduction on Ticket Prices, Failed to Pass Benefits to Consumers, Jan-Jun 2019.
December 31, 2020 Case Laws Income Tax HC

High Court rules in favor of assessee: Adequate inquiry by Assessing Officer u/s 263 upheld, different views insufficient.
December 31, 2020 Case Laws Income Tax AT

Trust Exemption Restored: Activities Not Deemed Commercial u/s 2(15) Proviso; Section 10(23C)(iv) Applies.
December 31, 2020 Case Laws Income Tax AT

Section 68: No additions for unexplained cash creditors if creditors' identity, capacity, and transaction genuineness are proven.
December 31, 2020 Case Laws Income Tax AT

LTCG Deduction u/s 54: Entire Cost of New Home, Including Furniture, Counts Toward Tax Benefits.
December 31, 2020 Case Laws Income Tax AT

Challenge to Section 263 Revision: Assessment Order Stands as Commissioner's Directions Already Executed by Assessing Officer. No New Reasons Given.
December 31, 2020 Case Laws Income Tax AT

Provision for Bonus Deemed Ascertained Liability; Excluded from Book Profit u/s 115JB After Actual Payment.
December 31, 2020 Case Laws Income Tax AT

Section 195 TDS on Foreign Interest Income Not Applicable: No Interest Paid or Claimed, Waived by Assessee.
December 31, 2020 Case Laws Income Tax AT

Court Upholds Depreciation Claim Adjusted for Exchange Fluctuations; Follows Accounting Standard AS-11 Without Errors.
December 31, 2020 Case Laws Income Tax AT

PCIT can't review orders u/s 263 if the same issue is pending appeal with CIT(A).
December 31, 2020 Case Laws Income Tax AT

Salary Refunds Not Taxable: CIT(A) Confirms Non-Voluntary Refunds Aren't Income Taxable.
December 31, 2020 Case Laws Income Tax AT

Travel Expense Reimbursements to Foreign Parties Not Subject to Section 195 or Section 40(a)(i) of Income Tax Act.
December 31, 2020 Case Laws Companies Law AT

Tribunal Waives Compliance with Section 244(1) of Companies Act to Allow Oppression and Mismanagement Case to Proceed.
December 31, 2020 Case Laws Central Excise AT

CENVAT Credit Approved for Warranty Services as Input Services Without Inclusion in Central Excise Assessable Value.
December 31, 2020 Case Laws VAT and Sales Tax HC

Court Invalidates Tax Assessment Order for Violating Natural Justice During Lockdown; Assessee Unaware of Proceedings.
December 30, 2020 Case Laws GST HC

Court Lifts Provisional Attachment on Cash Credit Account u/s 83 of GST Act, Allows Operation of Account.
December 30, 2020 Case Laws Income Tax HC

Tribunal Rules Revenue Must Use Accepted Interest Rate for External Borrowings in 2006-07 as in Other Years.
December 30, 2020 Case Laws Income Tax HC

Section 40(a)(ia) Inapplicable: Depreciation on Intellectual Property Rights Not Subject to TDS Deduction for Outright Purchases.
December 30, 2020 Case Laws Income Tax AT

No TDS Deduction on External Development Charges; Section 271C Penalty Not Applicable for Payments to Government Departments.
December 30, 2020 Case Laws Income Tax AT

Court Clarifies Interest Deduction on Loans for Commercial Property Construction u/s 24(b) of Income Tax Act.
December 30, 2020 Case Laws Income Tax AT

Special Purpose Vehicle Charges Not CSR: Contributions to SPV Account Are Business Expenditure Under Explanation 1 to Section 37.
December 30, 2020 Case Laws Income Tax AT

Transport Charges u/s 194C: No Justification for Disallowing Payments with Provided PANs for Five Transporters.
December 30, 2020 Case Laws Companies Law HC

Court Orders Reactivation of DIN and DSC for Petitioners Within 24 Hours to Join Scheme; Broader Questions Unresolved.
December 30, 2020 Case Laws Central Excise AT

Reversal of Cenvat credit for exempted goods equals non-claim; no payment needed u/r 6(3)(i) for common inputs.
December 30, 2020 Case Laws VAT and Sales Tax HC

High Court Remands VAT Assessment Case for Fresh Review, Citing Natural Justice and Inadequate Examination of Records.
December 29, 2020 Notifications DGFT

India Amends Onion Export Policy: All Varieties Now Classified as "Free" for Export Starting January 1, 2021.
December 29, 2020 Act Rules Money Laundering

CBIC Named Regulator for Precious Metals, Stones Dealers, and Real Estate Agents Under PMLA Rule 2 Compliance.
December 29, 2020 Case Laws GST HC

High Court Dismisses Petition on ITC Block u/r 86A; Inquiry on Fake Invoices Deemed Justified.
December 29, 2020 Case Laws GST HC

Court Rules No Vested Right to ITC Before Formal Claiming; Rejects Indefeasible Right Argument u/r 86A.
December 29, 2020 Case Laws GST HC

Court Rules Bail Possible for Economic Offences; No Automatic Denial for Bogus Input Tax Credit Charges Per Section 437(1) CrPC.
December 29, 2020 Case Laws GST HC

Court Orders Refund of Excess ITC for CGST and SGST by Adjusting IGST Credit Entries.
December 29, 2020 Case Laws GST HC

Court Rules IGST Refund Valid for Zero-Rated Supplies; No Double Benefit with Customs Duty Drawback.
December 29, 2020 Case Laws Income Tax AT

Assessee Entitled to Forex Loss Deduction of Rs. 41,96,702; ICDS-6 Irrelevant for Year in Question.
December 29, 2020 Case Laws Income Tax AT

Authorities Must Apply Investment Value Reduction for Disallowance u/s 14A & Rule 8D in Tax Calculations.
December 29, 2020 Case Laws Income Tax AT

Freight Expenses Disallowed Due to Non-Deduction of TDS; Separate Truck Contracts u/s 194C Examined by Revenue.
December 29, 2020 Case Laws Income Tax AT

Court Rules Against Addition u/s 68 for Unexplained Land Advances; Repayment Valid Due to Legal Issues.
December 29, 2020 Case Laws Insolvency and Bankruptcy Tri

Retirement Benefits and Provident Fund Claims Settled in CIRP Proceedings; Interest on Gratuity Admitted Until Insolvency Date.
December 29, 2020 Case Laws Income Tax AT

Assessing Officer's Conversion of Limited to Full Scrutiny Without Proper Jurisdiction Deemed Illegal by CBDT Instructions.
December 29, 2020 Case Laws Central Excise HC

CBIC and Ahmedabad Collector's Textile Classification Dispute: Nature of Raw Materials vs. Weaving Method Under Scrutiny.
December 29, 2020 Case Laws Service Tax AT

Appellant Cleared of Willful Tax Evasion; No Intentional Misconduct in Delayed Service Tax Payments Found.
December 29, 2020 Case Laws Service Tax HC

Court Upholds Rejection of Earlier Declaration Under Sabka Vishwas Scheme; No Priority Obligation for Initial Application.
December 29, 2020 Case Laws Customs AT

Commissioner (Appeals) Overlooks Importers' Acceptance of Enhanced Valuation, Incorrectly Overturns Assessing Officer's Decision on Bills of Entry.
December 28, 2020 Act Rules GST

Amendment to Paragraph 4, Schedule 02, Section 7 of CGST Act clarifies classification of transactions for GST from Jan 2021.
December 28, 2020 Act Rules GST

Section 132 Amendment: New Penalties for GST Offenses Effective January 1, 2021.
December 28, 2020 Act Rules GST

GST Act 2017 Amended: New Sub-section 122(1A) Imposes Stricter Penalties for Compliance Violations from January 2021.
December 28, 2020 Act Rules GST

Amendments to Section 51 of GST Act on tax deduction at source effective January 1, 2021, impact compliance.
December 28, 2020 Act Rules GST

Section 31 Amendment: New Rules for Tax Invoices Under Central GST Act Effective from January 1, 2021.

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