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TR Vol-175 Issue-3, 21 Sep 2020
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INCOME TAX : NEWS YOU CAN USE - Audit : RBI revises LFAR norms for banks to improve audit efficacy, risk management 2 >>   
INCOME TAX : NEWS YOU CAN USE - EPFO : EPFO settles 9.4 mn claims of formal sector workers since Covid-19 outbreak 2 >>   
INCOME TAX : NEWS YOU CAN USE - EPFO to pay 8.5% interest for FY20 in two instalments, cites Covid impact 3 >>   
INCOME TAX : NEWS YOU CAN USE - MSMEs : Govt launches new Aatmanirbhar Bharat schemes to support MSMEs, start-ups 4 >>   
INCOME TAX : NEWS YOU CAN USE - NPAs : SC extends relief on NPAs after govt tells interest issue being looked into 5 >>   
INCOME TAX : STATUTES - Guidelines for Compulsory Selection of Returns for Complete Scrutiny During the Financial Year 2020-21—Conduct of Assessment Proceedings in such Cases—Regarding—Guidelines, dtd. 17-9-2020 [F.No.225/126/2020/ITA-II] 8 >>   
INCOME TAX : STATUTES - Section 10(46)—Exemption to Specified Income Arising to a Body or Authority or Board or Trust or Commission—Notification No. 73/2020, dtd. 10-9-2020 [F. No. 300196/36/2017-ITA-I] 10 >>   
INCOME TAX : STATUTES - Section 10(47)—Exemption to Income of Infrastructure Fund—L&T Infra Debt Fund Notified—Notification No. 74/2020, dtd. 11-9-2020 [F. No. 178/42/ 2017-ITA-1] 15 >>   
INCOME TAX : STATUTES - Section 119—Assigning the Role of Pr.CCsIT (Jurisdictional) and Pr. CCIT (NeAC)—Regarding—Order dtd. 10-9-2020 [F.No. 187 /3/2020-ITA-I] 15 >>   
INCOME TAX : ARTICLES - Disallowance Under Section 40(a)(ia)—Issues Settled by Recent Supreme Court Verdict—CA. MANOJ GUPTA 17 >>   
INCOME TAX : ARTICLES - Instances Where Books of Account can be Rejected Under the Income Tax Act—CA. V.K. SUBRAMANI 27 >>   
INCOME TAX : ARTICLES - Benefit of Section 10A Post Certain Transfer Pricing Adjustments—SRIVATSAN RANGANATHAN 31 >>   
INCOME TAX : ARTICLES - Necessity of Satisfaction by AO of Searched Assessee in Respect of Third Party—AKHILESH KUMAR SAH 39 >>   
INCOME TAX : CASE LAW DIGESTS - Abbott Healthcare (P) Ltd. v. Dy. CIT (2020) 175 TR (A) 287 (Mum-Trib) : 2020 TaxPub(DT) 1502 (Mum-Trib) 53 >>   
INCOME TAX : CASE LAW DIGESTS - ACIT v. Windsor Realty (P.) Ltd. (2020) 175 TR (A) 297 (Mum-Trib) : 2019 TaxPub(DT) 8371 (Mum-Trib) : (2020) 204 TTJ (Mum-Trib) 493  58 >>   
INCOME TAX : CASE LAW DIGESTS - Addl. DIT v. Hongkong and Shanghai Banking Corporation Ltd. (2020) 175 TR (A) 277 (Mum-Trib) : 2020 TaxPub(DT) 306 (Mum-Trib)  43 >>   
INCOME TAX : CASE LAW DIGESTS - Asstt. CIT v. Tecnotree Convergence Ltd. (2020) 175 TR (A) 278 (Del-Trib) : 2020 TaxPub(DT) 2467 (Del-Trib)  44 >>   
INCOME TAX : CASE LAW DIGESTS - Asstt. CIT v. UCO Bank (2020) 175 TR (A) 280 (Kol-Trib) : 2019 TaxPub(DT) 8468 (Kol-Trib)  46 >>   
INCOME TAX : CASE LAW DIGESTS - Brocade Communications Systems (P) Ltd. v. Dy. CIT (2020) 175 TR (A) 277 (Bang-Trib) : 2020 TaxPub(DT) 2596 (Bang-Trib)  44 >>   
INCOME TAX : CASE LAW DIGESTS - CIT v. Madura Coats Ltd. (2020) 175 TR (A) 298 (Mad-HC) : 2019 TaxPub(DT) 7642 (Mad-HC) : (2020) 422 ITR 390 (Mad)  63 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Prism Cement Ltd. (2020) 175 TR (A) 282 (Mum-Trib) : 2019 TaxPub(DT) 7568 (Mum-Trib)  48 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Rajendra Sharma (2020) 175 TR (A) 295 (Rai-Trib) : 2019 TaxPub(DT) 8165 (Raipur Bench) : (2019) 202 TTJ (Raipur Bench) 6  61 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Sandeep Surendran Nair (2020) 175 TR (A) 276 (Raipur-Trib) : 2019 TaxPub(DT) 7606 (Raipur Bench)  42 >>   
INCOME TAX : CASE LAW DIGESTS - Gemological Institute International v. Dy. CIT (2020) 175 TR (A) 276 (Mum-Trib) : 2020 TaxPub(DT) 1828 (Mum-Trib) 43 >>   
INCOME TAX : CASE LAW DIGESTS - Honeywell Automation India Ltd. v. Dy. CIT (2020) 175 TR (A) 278 (Pune-Trib) : 2020 TaxPub(DT) 1412 (Pune-Trib)  45 >>   
INCOME TAX : CASE LAW DIGESTS - ITO (Exemption) v. A.P.S. Academy (2020) 175 TR (A) 300 (Lkw-Trib) : 2019 TaxPub(DT) 7448 (Luck 'A'-Trib) : (2019) 75 ITR (Trib) 563 (Luck 'A'-Trib)  65 >>   
INCOME TAX : CASE LAW DIGESTS - Nivedita Chemicals (P) Ltd. v. Asstt. CIT (2020) 175 TR (A) 287 (Mum-Trib) : 2020 TaxPub(DT) 1664 (Mum-Trib)  53 >>   
INCOME TAX : CASE LAW DIGESTS - Ram Krishan Kulwant Rai Holding (P.) Ltd. v. Principal CIT (2020) 175 TR (A) 301 (Mad-HC) : 2019 TaxPub(DT) 8315 (Mad-HC)  66 >>   
INCOME TAX : CASE LAW DIGESTS - Rambus Chip Technologies (India) (P) Ltd. v. Asstt. CIT (2020) 175 TR (A) 279 (Bang-Trib) : 2020 TaxPub(DT) 427 (Bang-Trib)  45 >>   
INCOME TAX : CASE LAW DIGESTS - Ratna Commercial Enterprises (P) Ltd. v. Addl. CIT (2020) 175 TR (A) 281 (Del-Trib) : 2019 TaxPub(DT) 7650 (Del-Trib)  47 >>   
INCOME TAX : CASE LAW DIGESTS - Sahara India Financial Corpn. Ltd. v. Addl. CIT (2020) 175 TR (A) 301 (Del-Trib) : 2019 TaxPub(DT) 7581 (Del-Trib)  66 >>   
INCOME TAX : CASE LAW DIGESTS - Southern Petrochemical Industries Corporation Ltd. v. CIT (2020) 175 TR (A) 299 (Chen-Trib) : 2019 TaxPub(DT) 8106 (Chenn-Trib)  64 >>   
INCOME TAX : CASE LAW DIGESTS - Tektronix (India) (P) Ltd. v. Dy. CIT (2020) 175 TR (A) 288 (Bang-Trib) : 2020 TaxPub(DT) 1787 (Bang-Trib)  53 >>   
INCOME TAX : CASE LAW DIGESTS - Teracom Ltd. v. Asstt. CIT (2020) 175 TR (A) 293 (Bom-HC) : 2019 TaxPub(DT) 7622 (Bom-HC) : (2020) 420 ITR 1 (Bom) : (2020) 315 CTR (Bom) 402  59 >>   
INCOME TAX : CASE LAW DIGESTS - Tyco Valves & Controls (I) (P) Ltd. v. Dy. CIT (2020) 175 TR (A) 280 (Ahd-Trib) : 2020 TaxPub(DT) 569 (Ahd-Tribl)  46 >>   
INCOME TAX : CASE LAW DIGESTS - Voltas Ltd. v. Asstt. CIT (2020) 175 TR (A) 280 (Mum 'J'-Trib) : 2020 TaxPub(DT) 2709 (Mum 'J'-Trib) 46 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Abbott Healthcare (P) Ltd. v. Dy. CIT (2020) 175 TR (B) 308 (Mum-Trib) : 2020 TaxPub(DT) 1502 (Mum-Trib)  74 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Addl. DIT v. Hongkong and Shanghai Banking Corporation Ltd. (2020) 175 TR (B) 308 (Mum-Trib) : 2020 TaxPub(DT) 306 (Mum-Trib)  73 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Asstt. CIT v. Tecnotree Convergence Ltd. (2020) 175 TR (B) 326 (Del-Trib) : 2020 TaxPub(DT) 2467 (Del-Trib)  90 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Avaya India (P) Ltd. v. Dy. CIT (2020) 175 TR (B) 305 (Del-Trib) : 2020 TaxPub(DT) 1361 (Delhi I-1 Bench) : (2020) 78 ITR (Trib) 84 (Delhi I-1 Bench)  71 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Brocade Communications Systems (P) Ltd. v. Dy. CIT (2020) 175 TR (B) 309 (Bang-Trib) : 2020 TaxPub(DT) 2596 (Bang-Trib)  74 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Dassault Systems Solid Works Corporation v. Dy. CIT (2020) 175 TR (B) 304 (Mum-Trib) : 2020 TaxPub(DT) 2759 (Mum-Trib)  69 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Dy. CIT v. Arkadin Confer India (P.) Ltd. (2020) 175 TR (B) 311 (Del-Trib) : 2020 TaxPub(DT) 463 (Del-Trib) : (2020) 204 TTJ (Del-Trib) 912  76 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Essentra (India) (P) Ltd. v. ITO (2020) 175 TR (B) 305 (Bang-Trib) : 2020 TaxPub(DT) 2419 (Bang-Trib)  70 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Gemological Institute International v. Dy. CIT (2020) 175 TR (B) 304 (MUM-Trib) : 2020 TaxPub(DT) 1828 (Mum-Trib)  69 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Honeywell Automation India Ltd. v. Dy. CIT (2020) 175 TR (B) 321 (Pune-Trib) : 2020 TaxPub(DT) 1412 (Pune-Trib)  86 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Nivedita Chemicals (P) Ltd. v. Asstt. CIT (2020) 175 TR (B) 313 (Mum-Trib) : 2020 TaxPub(DT) 1664 (Mum-Trib)  78 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Rambus Chip Technologies (India) (P) Ltd. v. Asstt. CIT (2020) 175 TR (B) 310 (Bang-Trib) : 2020 TaxPub(DT) 427 (Bang-Trib)  75 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Tektronix (India) (P) Ltd. v. Dy. CIT (2020) 175 TR (B) 314 (Bang-Trib) : 2020 TaxPub(DT) 1787 (Bang-Trib)  79 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Tyco Valves & Controls (I) (P) Ltd. v. Dy. CIT (2020) 175 TR (B) 307 (Ahd-Trib) : 2020 TaxPub(DT) 569 (Ahd-Tribl)  72 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Voltas Ltd. v. Asstt. CIT (2020) 175 TR (B) 304 (Mum 'J-Trib) : 2020 TaxPub(DT) 2709 (Mum 'J'-Trib)  70 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Walter Tools India (P.) Ltd. v. ACIT (2020) 175 TR (B) 312 (Pun-Trib) : 2020 TaxPub(DT) 1429 (Pune-Trib 77 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - Corporate Governance : Need to strengthen corporate governance; adopt best global practices: Anurag Thakur to India Inc 92 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - MCA : Covid-19 impact; MCA gives companies three more months to hold AGM for FY20 93 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - SEBI : Multi-cap funds must invest 25% each in small, mid, large-cap stocks: Sebi 93 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - Entire GST shortfall will be compensated, says govt ahead of Sept 10 meet 94 >>   
CORPORATE LAWS & GST : STATUTES - Companies (Acceptance of Deposits) Amendment Rules, 2020—Notification, dtd. 7-9-2020 [F. No. 1/8/2013- CL-V Vol VI] 98 >>   
CORPORATE LAWS & GST : STATUTES - Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020—Amendment in Rules 2, 4 and 6—Notification No. G.S.R. 526(E), dtd. 24-8-2020 [E- F. No. CSR-07/2/2020-CSR-MCA] 98 >>   
CORPORATE LAWS & GST : STATUTES - Section 467 of The Companies Act, 2013—Power of Central Government to Amend Schedules—Amendment of Schedule VII—Notification No. G.S.R. 525(E), dtd. 24-8-2020 [E-F. No. CSR-07/2/2020-CSR-MCA] 99 >>   
CORPORATE LAWS & GST : STATUTES - Companies (Management and Administration) Amendment Rules, 2020—Amendment in Rule 12—Notification No. G.S.R. 538(E), dtd. 28-8-2020 [F. No. 01/34/2013-CL-V-(PT-I)] 99 >>   
CORPORATE LAWS & GST : STATUTES - Section 1 of The Companies (Amendment) Act, 2017—Notified Date of Provision of Clause (ii) of Section 23—Notification No. S.O. 2920(E), dtd. 28-8-2020 [F. No. 1/1/2018-CL.I] 100 >>   
CORPORATE LAWS & GST : STATUTES - Section 415 of The Companies Act, 2013—Acting President and Chairperson of Tribunal or Appellate Tribunal—Appointment of Acting President of NCLT—Notification S.O. 2796 (E), dtd. 18-8-2020 [F. No. A-45011/49/2019-AD.IV] 100 >>   
CORPORATE LAWS & GST : STATUTES - Frequently Asked Questions (FAQ)—Portfolio Managers—Press Release, dtd. 25-8-2020 100 >>   
CORPORATE LAWS & GST : STATUTES - Implementation of Section 51A of UAPA, 1967—Updates to UNSC'S Democratic Republic of Congo List—Press Release No. 43/2020, dtd. 25-8-2020 104 >>   
CORPORATE LAWS & GST : STATUTES - Regulatory Measures to Continue—Press Release No. 44/2020, dtd. 26-8-2020 105 >>   
CORPORATE LAWS & GST : ARTICLES - Mixed Supply—Meaning and Tax Treatment—S. SWAMINATHAN 106 >>   
CORPORATE LAWS & GST : ARTICLES - SCORES : Investor Complaint Redressal Mechanism—PRAGYA LALWANI 109 >>   
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