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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

Import and export of vaccines in relation to COVID-19 through Courier - In order to facilitate the import/ export of vaccines in relation to COVID -19 through Courier,......
December 31, 2020 Notifications Customs

Courier Imports and Exports (Electronic Declaration and Processing) Amendment Regulations, 2020 - Notification
December 31, 2020 Notifications GST

Seeks to extend the time limit for furnishing of the annual return specified under section 44 of CGST Act, 2017 for the financial year 2019-20 till 28.02.2021. - Notification
December 31, 2020 Case Laws GST

Profiteering - supply of Services by way of admission to exhibition of cinematograph films - The Respondent has resorted to profiteering by way of either increasing the.....
December 31, 2020 Case Laws Income Tax

Revision u/s 263 - Characterization of income - Real estate business - Assessing Officer has conducted sufficient enquiry as required under Explanation 2(a) to Section......
December 31, 2020 Case Laws Income Tax

Exemption u/s 10(23C)(iv) denied - activities of the assessee Trust as hit by the proviso to section 2(15) - the activities of the Trust of providing accommodation and......
December 31, 2020 Case Laws Income Tax

Addition u/s 68 - Unexplained cash creditors - once it is established that it is the creditors' money that has found its way in the books of the assessee, no adverse......
December 31, 2020 Case Laws Income Tax

LTCG - Deduction u/s 54 - Adoption of the cost of acquisition of new asset - - what is to be treated as cost of the residential house is the entire cost of house and it.....
December 31, 2020 Case Laws Income Tax

Revision u/s 263 - Clearly, what was being directed by the learned Commissioner was already done by the Assessing Officer, and, therefore, these directions clearly show.....
December 31, 2020 Case Laws Income Tax

Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net.....
December 31, 2020 Case Laws Income Tax

TDS u/s 195 - interest income accrued in the hands of the foreign entity - There was no expenditure accrued during the previous year and also claimed and hence, the......
December 31, 2020 Case Laws Income Tax

Disallowance of depreciation - enhanced cost on account of exchange fluctuation - wherever there was an exchange gain to the assessee, the same was reduced from the WDV.....
December 31, 2020 Case Laws Income Tax

Revision u/s 263 - Unexplained cash investment u/s 69 - PCIT has no right to review the order which was subject matter of appeal before Ld. CIT(A) and we notice that the....
December 31, 2020 Case Laws Income Tax

Income from salary - addition being the amount of salary refunded to the employer company - The ld. CIT(A) has deleted the addition holding that refund of salary by the.....
December 31, 2020 Case Laws Income Tax

TDS u/s 195 - reimbursement of travelling expenses paid to foreign parties - a payment in the nature of a mere reimbursement of actual expenses would not be covered by......
December 31, 2020 Case Laws Companies Law

Oppression and mismanagement - Waiver of compliance of Section 244(1) of the Companies Act - The Tribunal, has exercised its discretion and opined that a meritorious......
December 31, 2020 Case Laws Central Excise

CENVAT Credit - input services - Warranty Services - whether warranty services are part of the manufacturing and sale activity as they are required for the purpose of......
December 31, 2020 Case Laws VAT and Sales Tax

Violation of principles of Natural Justice - Validity of assessment order - Office of the assessee was closed due to lockdown - While on one hand the petitioners acted......
December 30, 2020 Case Laws GST

Attachment of cash credit account - Section 83 of the GST Act - the interest of the revenue could be said to be secured for the time being with the provisional......
December 30, 2020 Case Laws Income Tax

TP Adjustment - Arms length price adjustment on account of interest on external commercial borrowings - the rate of interest has been accepted by the Assessing Officer......
December 30, 2020 Case Laws Income Tax

Disallowance u/s 40(a)(ia) in respect of depreciation on intellectual property rights - Failure to deduct TDS - The depreciation is an allowance and not an expenditure,.....
December 30, 2020 Case Laws Income Tax

Penalty proceedings u/s 271C - Failure to deduct TDS u/s 194C - the payment of EDC is not for carrying out any specific work to be done by HUDA for and on behalf of the.....
December 30, 2020 Case Laws Income Tax

Computation of income from house property - deduction of interest on subsequent loan which was borrowed to repay earlier loan - The proviso only carves out an exception.....
December 30, 2020 Case Laws Income Tax

Addition under the head SPV charges - Whether part of Corporate Social Responsibility (CSR) activity - sale proceeds of overburden dumps outside sanctioned lease areas -....
December 30, 2020 Case Laws Income Tax

TDS u/s 194C - transportation charges paid during the year - The need to furnish declaration from the contractor’s being owners of less than 10 vehicles has been......
December 30, 2020 Case Laws Companies Law

Seeking directions for reactivation of their Director Identification Numbers (DIN) and Digital Signature Certificates (DSC) - while leaving the questions of law open, in....
December 30, 2020 Case Laws Central Excise

Reversal of cenvat credit - It is now a settled proposition that reversal of cenvat credit even after manufacture of the goods and/or clearance thereof amounts to not......
December 30, 2020 Case Laws VAT and Sales Tax

Principles of natural justice - Validity of revision of assessment orders - The counter affidavit filed by the respondent has not answered the grounds raised by the......
December 29, 2020 Notifications DGFT

Amendment in Export Policy of Onions - The Export of all varieties of Onions, as described above, has been made “Free” with effect from 01.01.2021 - Notification
December 29, 2020 Act Rules Money Laundering

CBIC designated as regulator under PMLA for the purpose of dealers in precious metals and precious stones and real estate agents - Rule 2 of the PREVENTION OF......
December 29, 2020 Case Laws GST

Scope of powers under Rule 86A - power and procedure for blocking the input tax credit (ITC) in the electronic credit ledger of a registered person during any inquiry or....
December 29, 2020 Case Laws GST

Indefeasible right vis-a-vis the benefit of the ITC - No vested right accrues before taking credit. - the vociferous submission of the learned counsel appearing for the.....
December 29, 2020 Case Laws GST

Grant of Bail - allegation of bogus input tax credit - For the purpose of granting or refusing bail there is no classification of the offences except the ban under......
December 29, 2020 Case Laws GST

Refund of ITC of CGST and SGST - The ITC of CGST and SGST started accumulating correspondingly. In such circumstances, as on date on account of such amendment in......
December 29, 2020 Case Laws GST

Refund of IGST - Zero Rated Supplies - it appears that the writ-applicant had claimed higher duty drawback - it is evident that the petitioner has claimed drawback of......
December 29, 2020 Case Laws Income Tax

Allowability of claim - additional claim by way of letter, which are not claimed in the return of income by the assessee - Deduction towards forex loss - Income......
December 29, 2020 Case Laws Income Tax

Disallowance u/s 14A - authorities below directed to extend the benefit of the assessee on account of diminution in the value of investments while working out the......
December 29, 2020 Case Laws Income Tax

TDS u/s 194C - Disallowance of freight expenses - No TDS was deducted - the AO has noted that a separate truck was engaged in almost all cases of transportation,......
December 29, 2020 Case Laws Income Tax

Addition u/s 68 - unexplained land advances received back by the appellant - assessee has advanced the amount and also a fact that transaction is not materialized......
December 29, 2020 Case Laws Insolvency and Bankruptcy

Claim of Retirement benefits before RP - CIRP proceedings - Since, the Resolution Professional stated that he has admitted the interest on gratuity of the applicants......
December 29, 2020 Case Laws Income Tax

Scope of limited scrutiny - In the present case, the day on which case was converted into full scrutiny i.e. on 21.12.2016 the ld. AO on the very next day passed the......
December 29, 2020 Case Laws Central Excise

Classification - Scope of the term Textile - Demand based on CBIC circular - It appears that the understanding of the word ‘textiles’ in common parlance has not been......
December 29, 2020 Case Laws Service Tax

CENVAT Credit - short/delayed payment of service tax - It cannot be said that the appellant had any intention, much less willful intention not to pay service tax in......
December 29, 2020 Case Laws Service Tax

Principles of Natural Justice - rejection of declaration under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - SVLDRS - We perceive logic in the action of the......
December 29, 2020 Case Laws Customs

Valuation of imported goods - The Commissioner (Appeals) completely failed to advert to the crucial aspect that the importers had themselves accepted the enhanced value.....
December 28, 2020 Act Rules GST

ACTIVITIES OR TRANSACTIONS TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES - Amendment to Paragraph 4 comes into effect w.e.f. 1.1.2021 - SCHEDULE 02 [Section 7].....
December 28, 2020 Act Rules GST

Punishment for certain offences. - Amendment to sub-section (1) comes into effect w.e.f 1.1.2021 - Section 132 of the CENTRAL GOODS AND SERVICES TAX ACT, 2017
December 28, 2020 Act Rules GST

Penalty for certain offences. - Amendments as new sub-section (1A) comes into effect w.e.f. 1.1.2021 - Section 122 of the CENTRAL GOODS AND SERVICES TAX ACT, 2017
December 28, 2020 Act Rules GST

Tax deduction at source. - Amendment to sub-section (3) and (4) comes into effect w.e.f. 1.1.2021 - Section 51 of the CENTRAL GOODS AND SERVICES TAX ACT, 2017
December 28, 2020 Act Rules GST

Tax invoice - Amendment to sub-section (2) comes into effect w.e.f 1.1.2021 - Section 31 of the CENTRAL GOODS AND SERVICES TAX ACT, 2017

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C: Clarifications on the applicability of concessional duty under IGCR Ru...

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

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N: Securities and Exchange Board of India (Buy-Back of Securities) (Secon...

H: Excess Input Tax Credit penalty appeal dismissed due to delay; court a...

H: Chit Funds Commission Not Subject to GST: High Court Quashes Notice.

H: Taxability of Additional Surcharge by Electricity Distribution Company...

H: Transport agency's bundled services disqualify it from GST exemption f...

H: Compensation for surrendering intellectual property rights treated as ...

H: Cooperative society eligible for tax deduction on interest from cooper...

H: Taxman overreached by turning limited scrutiny into wide-ranging probe...

H: TDS credit limited to income in return, excess related to past years' ...

H: Genuine anonymous donations not taxable. Grants not income if utilized...

H: Property investment source verification not valid grounds for reopenin...

H: Income Tax Assessment Notice Issued by Non-Jurisdictional Officer Quas...

H: Foreign tech firm wins case: No permanent establishment or royalty tax...

H: Simplified taxation for non-resident shipping biz: 7.5% presumptive in...

H: Freight charges paid to foreign shipping co. not taxable royalty or ch...

H: Software License & ICT Service Fees Taxability Re-examined - Royalty o...

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

F: assessment order

F: Transfer of ITC without filing ITC-02

A: Electronic Liability Register

A: From Inception to Exit- A Complete Guide to LLP Registration, Closure,...

A: Appeal filed beyond condonable period after writ proceedings disposal ...

A: Common Mistakes to Avoid While Making Income Tax Payments

F: PRE-DEPSOIT ISSUES