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TR Vol-176 Issue-1, 02 Nov 2020
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INCOME TAX : NEWS YOU CAN USE - Budget 2021-22 : FinMin kick-starts Budget making exercise amid contraction pressure 2 >>   
INCOME TAX : NEWS YOU CAN USE - EPFO : EPFO records over 1 mn new enrolments in August up from 748,000 in July 2 >>   
INCOME TAX : NEWS YOU CAN USE - Income Tax Refunds : Refunds worth over Rs 1.23 trn issued to 3.8 mn taxpayers till Oct 13 3 >>   
INCOME TAX : NEWS YOU CAN USE - Income Tax Returns : Deadline to file income tax return extended by a month till December 31 3 >>   
INCOME TAX : NEWS YOU CAN USE - ITAT : ITAT held Double Taxation Avoidance Agreement rate supremacy over Dividend Distribution Tax rate 4 >>   
INCOME TAX : NEWS YOU CAN USE - Labour Code : Govt plans to implement labour codes on April 1, starts shaping rules 5 >>   
INCOME TAX : NEWS YOU CAN USE - MSMEs : Banks can deploy on-tap TLTRO funds in agriculture, retail and MSMEs: RBI 6 >>   
INCOME TAX : NEWS YOU CAN USE - Borrowers' Diwali; Govt waives interest on interest for loans up to Rs 2 cr 6 >>   
INCOME TAX : NEWS YOU CAN USE - NPA : Higher NPAs hinder transmission of monetary policy actions: RBI paper 7 >>   
INCOME TAX : NEWS YOU CAN USE - National Pension System : Pension fund authority woos corporates to become NPS subscribers 9 >>   
INCOME TAX : NEWS YOU CAN USE - Recovery : CBDT clamps down on coercive assessment, tax recovery measures by officers 9 >>   
INCOME TAX : STATUTES - Instructions for Filling ITR-1 to 7—A.Y. 2020-21 10 >>   
INCOME TAX : STATUTES - Direct Tax Vivad se Vishwas Act, 2020—Last date to file declaration Notified—Date for Payment of Tax Extended 10 >>   
INCOME TAX : STATUTES - Recovery—Order Under Section 119—Exercising Power of Intrusive or Coercive Action for Recovery of Tax Demand by Assessing Officers or Tax Recovery Officers—Order, dtd. 16-10-2020 [F.No. 275/29/2020-IT(B)] 11 >>   
INCOME TAX : STATUTES - Section 133A—Survey—Exercising of Power of Survey in Pursuance of The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020—Order dtd. 19-10-2020 [F No. 187/3/2020-ITA-I] 12 >>   
INCOME TAX : STATUTES - Income Tax Department Carries out Searches in Delhi, NCR and Haryana—Press Release, dtd. 15-10-2020 14 >>   
INCOME TAX : STATUTES - Income Tax Department Carries out Searches in Bihar—Press Release, dtd. 21-10-2020 15 >>   
INCOME TAX : STATUTES - Income Tax Department Conducts Searches in J&K—Press Release, dtd. 22-10-2020 16 >>   
INCOME TAX : STATUTES - Extension of Due Date of Furnishing of Income Tax Returns and Audit Reports—Press Release, dtd. 24-10-2020 17 >>   
INCOME TAX : STATUTES - Income Tax (23rd Amendment) Rules, 2020—Amendment in Rule 67—Notification No. 84/2020, dtd. 22-10-2020 [F. No. 370149/76/2019-TPL] 18 >>   
INCOME TAX : SUBSCRIBER’S QUERIES - Corporate Taxation—Dividend to shareholders/Bonus to shareholders—Taxability 19 >>   
INCOME TAX : ARTICLES - Tax Department Goes Faceless—CA. MANOJ GUPTA 21 >>   
INCOME TAX : ARTICLES - Only the Profit Element Embedded in Undisclosed Purchases/Sales Should be Subjected to Tax—AKHILESH KUMAR SAH 36 >>   
INCOME TAX : CASE LAW DIGESTS - A.Y. Garments International (P) Ltd. v. Dy. CIT (2020) 176 TR (A) 50 (Kar-HC) : 2020 TaxPub(DT) 2813 (Karn-HC) 48 >>   
INCOME TAX : CASE LAW DIGESTS - ACC Ltd. v. CIT (2020) 176 TR (A) 72 (Mum-Trib) : 2020 TaxPub(DT) 2815 (Mum-Trib)  68 >>   
INCOME TAX : CASE LAW DIGESTS - ACIT v. Kapis Impex LLP (2020) 176 TR (A) 63 (Del-Trib) : 2020 TaxPub(DT) 2685 (Del-Trib)  60 >>   
INCOME TAX : CASE LAW DIGESTS - Addl. CIT v. Nortel Networks India (P) Ltd, (2020) 176 TR (A) 58 (Del-Trib) : 2020 TaxPub(DT) 2952 (Del 'E'-Trib) 55 >>   
INCOME TAX : CASE LAW DIGESTS - Aranattukara Oriental Service Co-operative Bank Ltd. v. CIT (2020) 176 TR (A) 67 (Ker-HC) : 2020 TaxPub(DT) 2475 (Ker-HC) 64 >>   
INCOME TAX : CASE LAW DIGESTS - Aravind Modi v. ITO (2020) 176 TR (A) 55 (Chen-Trib) : 2020 TaxPub(DT) 2261 (Chenn-Trib) 52 >>   
INCOME TAX : CASE LAW DIGESTS - Aricent Technologies Holdings Ltd. v. Dy.CIT (2020) 176 TR (A) 49 (Del-Trib) : 2019 TaxPub(DT) 8101 (Del-Trib) 48 >>   
INCOME TAX : CASE LAW DIGESTS - Chowdry Associates v. Asstt. CIT (2020) 176 TR (A) 71 (Del-Trib) : 2020 TaxPub(DT) 2159 (Del-Trib) 68 >>   
INCOME TAX : CASE LAW DIGESTS - CIT v. Sri Balaji & Co. (2020) 176 TR (A) 52 (Karn-HC) : 2018 TaxPub(DT) 7066 (Karn-HC)  49 >>   
INCOME TAX : CASE LAW DIGESTS - Colgate-Palmolive (India) Ltd. v. Addl. CIT (2020) 176 TR (A) 48 (Mum-Trib) : 2020 TaxPub(DT) 3162 (Mum-Trib) 45 >>   
INCOME TAX : CASE LAW DIGESTS - Connectwell Industries (P) Ltd. v. UOI (2020) 176 TR (A) 67 (SC) : 2020 TaxPub(DT) 1571 (SC) : (2020) 313 CTR (SC) 601  63 >>   
INCOME TAX : CASE LAW DIGESTS - DIG Medical Composite Hospital v. Asstt. CIT (2020) 176 TR (A) 68 (Nag-Trib) : 2020 TaxPub(DT) 2237 (Nag-Trib) 64 >>   
INCOME TAX : CASE LAW DIGESTS - Dimension Data India v. Addl. CIT (2020) 176 TR (A) 49 (Mum-Trib) : 2020 TaxPub(DT) 3081 (Mum-Trib) 46 >>   
INCOME TAX : CASE LAW DIGESTS - Durai Pugazhenthi v. Asstt. CIT (2020) 176 TR (A) 56 (Chen-Trib) : 2020 TaxPub(DT) 2050 (Chenn-Trib)  53 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Della Technica Interior Design (P) Ltd. (2020) 176 TR (A) 60 (Mum-Trib) : 2020 TaxPub(DT) 3238 (Mum-Trib)  57 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Jamnagar Area Development Authority (2020) 176 TR (A) 46 (Ahd-Trib) : 2019 TaxPub(DT) 7633 (Ahd-Tribl) 44 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Rajkot Urban Development Authority (2020) 176 TR (A) 45 (Ahd-Trib) : 2020 TaxPub(DT) 59 (Ahd-Tribl)  43 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Ramdoot Prasad Sewa Samiti Trust (2020) 176 TR (A) 43 (JP-Trib) : 2020 TaxPub(DT) 836 (Jp-Trib) : (2020) 205 TTJ (Jp-Trib) 435  41 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Sundaram Medical Foundation (2020) 176 TR (A) 43 (Chen-Trib) : 2019 TaxPub(DT) 3914 (Chenn-Trib)  40 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Varun Beverages Ltd. (2020) 176 TR (A) 61 (Del-Trib) : 2020 TaxPub(DT) 1428 (Del-Trib)  58 >>   
INCOME TAX : CASE LAW DIGESTS - Faber Construction v. ACIT (2020) 176 TR (A) 52 (Mum-Trib) : 2020 TaxPub(DT) 1692 (Mum 'SMC'-Trib)  50 >>   
INCOME TAX : CASE LAW DIGESTS - FIS Solutions (India) (P.) Ltd. v. Dy. CIT (2020) 176 TR (A) 42 (Pune-Trib) : 2020 TaxPub(DT) 1600 (Pune-Trib) : (2020) 79 ITR (Trib) 656 (Pune-Trib) 39 >>   
INCOME TAX : CASE LAW DIGESTS - Fixed Income Money Market & Derivatives Association of India v. ITO(E) (2020) 176 TR (A) 44 (Mum-Trib) : 2020 TaxPub(DT) 1373 (Mum-Trib)  42 >>   
INCOME TAX : CASE LAW DIGESTS - Global Offshore Services Ltd. v. Dy. CIT (2020) 176 TR (A) 68 (Mum-Trib) : 2020 TaxPub(DT) 3164 (Mum-Trib) 65 >>   
INCOME TAX : CASE LAW DIGESTS - ITO v. Elegant Buildhome (P) Ltd. (2020) 176 TR (A) 58 (JP-Trib) : 2020 TaxPub(DT) 2652 (Jp-Trib) 56 >>   
INCOME TAX : CASE LAW DIGESTS - ITO v. Habib Khan (2020) 176 TR (A) 70 (JP-Trib) : 2020 TaxPub(DT) 2028 (Jp-Trib) 66 >>   
INCOME TAX : CASE LAW DIGESTS - ITO v. Jagdish R. Panchal (2020) 176 TR (A) 74 (Mum-Trib) : 2020 TaxPub(DT) 1983 (Mum-Trib)  70 >>   
INCOME TAX : CASE LAW DIGESTS - Karakulam Service Co-operative Bank Ltd. v. ITO (2020) 176 TR (A) 69 (Coch-Trib) : 2020 TaxPub(DT) 2242 (Coch-Trib) 66 >>   
INCOME TAX : CASE LAW DIGESTS - Karmic Labs (P) Ltd. v. ITO (2020) 176 TR (A) 54 (Mum-Trib) : 2020 TaxPub(DT) 3105 (Mum-Trib)  51 >>   
INCOME TAX : CASE LAW DIGESTS - Lalita Aggarwal v. Pr. CIT & Ors. (2020) 176 TR (A) 66 (Del-HC) : 2020 TaxPub(DT) 2032 (Del-HC)  63 >>   
INCOME TAX : CASE LAW DIGESTS - Lav Narang v. ACIT (2020) 176 TR (A) 59 (Ind-Trib) : 2020 TaxPub(DT) 2051 (Ind-Trib)  56 >>   
INCOME TAX : CASE LAW DIGESTS - Lionbridge Technologies P. Ltd. v. Asstt. CIT (2020) 176 TR (A) 63 (Mum-Trib) : 2020 TaxPub(DT) 2299 (Mum 'I'-Trib)  60 >>   
INCOME TAX : CASE LAW DIGESTS - Mahesh Kumar C/o IBM India (P) Ltd. v. CIT (2020) 176 TR (A) 72 (Kol-Trib) : 2019 TaxPub(DT) 8012 (Kol-Trib)  69 >>   
INCOME TAX : CASE LAW DIGESTS - Mala Kumar v. Asstt. CIT (2020) 176 TR (A) 53 (Del-Trib) : 2020 TaxPub(DT) 2107 (Del-Trib)  50 >>   
INCOME TAX : CASE LAW DIGESTS - Media Anupam Ltd. v. ITO (2020) 176 TR (A) 68 (Ctk-Trib) : 2020 TaxPub(DT) 1970 (Ctk-Trib)  65 >>   
INCOME TAX : CASE LAW DIGESTS - Millward Brown Market Research Services India Pvt. Ltd. v. Dy. CIT (2020) 176 TR (A) 66 (Mum-Trib) : 2020 TaxPub(DT) 1919 (ITAT-Mum) 62 >>   
INCOME TAX : CASE LAW DIGESTS - Mohd. Gulzar v. ITO (2020) 176 TR (A) 71 (Del-Trib) : 2020 TaxPub(DT) 2996 (Del-Trib)  67 >>   
INCOME TAX : CASE LAW DIGESTS - Piramal Glass (P) Ltd. v. Dy. CIT (2020) 176 TR (A) 49 (Mum-Trib) : 2020 TaxPub(DT) 2781 (Mum-Trib)  47 >>   
INCOME TAX : CASE LAW DIGESTS - Rakesh Khandelwal Afree Square v. Pr. CIT (2020) 176 TR (A) 73 (Ind-Trib) : 2020 TaxPub(DT) 817 (Ind-Trib)  69 >>   
INCOME TAX : CASE LAW DIGESTS - Sanjay Jhunjhunwala v. UOI & Ors. (2020) 176 TR (A) 42 (Del-HC) : 2020 TaxPub(DT) 2378 (Del-HC)  39 >>   
INCOME TAX : CASE LAW DIGESTS - Sarita Tyagi v. ITO (2020) 176 TR (A) 54 (Del-Trib) : 2020 TaxPub(DT) 2257 (Del-Trib)  51 >>   
INCOME TAX : CASE LAW DIGESTS - Shreenathji Cotgin (P.) Ltd. v. ITO (2020) 176 TR (A) 62 (Guj-HC) : 2020 TaxPub(DT) 2294 (Guj-HC)  59 >>   
INCOME TAX : CASE LAW DIGESTS - Shri Sandeep Bhargava (HUF) v. Dy. CIT (2020) 176 TR (A) 65 (Chan-Trib) : 2020 TaxPub(DT) 2797 (Chd-Trib)  62 >>   
INCOME TAX : CASE LAW DIGESTS - Sir Shadilal Enterprises Ltd. v. Dy. CIT (2020) 176 TR (A) 64 (Del-Trib) : 2020 TaxPub(DT) 45 (Del-Trib)  61 >>   
INCOME TAX : CASE LAW DIGESTS - Varapuzha Service Co-Operative Bank Ltd. v. ITO (2020) 176 TR (A) 57 (COC-Trib) : 2020 TaxPub(DT) 2877 (Coch-Trib)  54 >>   
INCOME TAX : CASE LAW DIGESTS - Vikash Kumar Thakur v. ITO (2020) 176 TR (A) 55 (Ahm-Trib) : 2020 TaxPub(DT) 2275 (Ahd-Tribl)  52 >>   
INCOME TAX : CASE LAW DIGESTS - Yum Restaurants (Marketing) (P.) Ltd. v. CIT (2020) 176 TR (A) 41 (SC) : 2020 TaxPub(DT) 2073 (SC) : (2020) 271 Taxman 217 (SC) : (2020) 315 CTR (SC) 37  38 >>   
INTERNATIONAL TAXATION : STATUTES - Section 92C—Transfer Pricing—Arm’s Length Price—Tolerance Range—Notification No. 83/2020, dtd. 19-10-2020 [F. No. 500/1/2014-APA-II] 73 >>   
INTERNATIONAL TAXATION : ARTICLES - PE Expense Disallowances v. Treaty Override of DTAA—SRIVATSAN RANGANATHAN 74 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Aricent Technologies Holdings Ltd. v. Dy.CIT (2020) 176 TR (B) 88 (Del-Trib) : 2019 TaxPub(DT) 8101 (Del-Trib) 82 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Colgate-Palmolive (India) Ltd. v. Addl. CIT (2020) 176 TR (B) 88 (Mum-Trib) : 2020 TaxPub(DT) 3162 (Mum-Trib) 82 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Dimension Data India v. Addl. CIT (2020) 176 TR (B) 95 (Mum-Trib) : 2020 TaxPub(DT) 3081 (Mum-Trib) 89 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Dy. CIT-9(3)(1) v. DHL Logistics (P) Ltd. (2020) 176 TR (B) 91 (Mum 'K'-Trib) : 2020 TaxPub(DT) 3123 (Mum 'K'-Trib) 85 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - FIS Solutions (India) (P.) Ltd. v. Dy. CIT (2020) 176 TR (B) 93 (Pune-Trib) : 2020 TaxPub(DT) 1600 (Pune-Trib) : (2020) 79 ITR (Trib) 656 (Pune-Trib) 87 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Global Offshore Services Ltd. v. Dy. CIT (2020) 176 TR (B) 91 (Mum-Trib) : 2020 TaxPub(DT) 3164 (Mum-Trib) 85 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Millward Brown Market Research Services India Pvt. Ltd. v. Dy. CIT (2020) 176 TR (B) 90 (Mum-Trib) : 2020 TaxPub(DT) 1919 (ITAT-Mum) 84 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Piramal Glass (P) Ltd. v. Dy. CIT (2020) 176 TR (B) 92 (Mum-Trib) : 2020 TaxPub(DT) 2781 (Mum-Trib) 86 >>   
INTERNATIONAL TAXATION : CASE LAW DIGESTS - Voith Paper GmbH v. Dy. DIT (2020) 176 TR (B) 87 (Del 'D'-Trib) : 2020 TaxPub(DT) 1352 (Del 'D'-Trib) : (2020) 80 ITR (Trib) 589 (Del 'D'-Trib) 81 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - Artificial Intelligence : Banks need to use AI, machine learning for corporate lending: CEA 93 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - SEBI : SEBI extends deadline for SMARTs 93 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - Centre borrows Rs 6,000 cr to compensate GST to 18 domains in first tranche 94 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - Deadline for filing FY19 GST annual returns extended till December 31 94 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - GST shortfall; FM writes to states, explains Rs 1.1 trn borrowing window 95 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - Liaisoning services by branch of foreign firm to attract GST; Karnataka AAR 96 >>   
CORPORATE LAWS & GST : STATUTES - Clarification Relating to Application of Sub-Rule (4) of Rule 36 of the CGST Rules, 2017 for the Months of February, 2020 to August, 2020—Circular No. 142/12/2020-GST, dtd. 9-10-2020 [F. No. CBIC/20/06/14/2020-GST] 97 >>   
CORPORATE LAWS & GST : STATUTES - Amendment in Notification No. 41/2020-Central Tax, dated 5th May, 2020—Notification No. 69/2020 – Central Tax, dtd. 30-9-2020 [F. No. CBEC-20/06/09/2019-GST] 98 >>   
CORPORATE LAWS & GST : STATUTES - Amendments in Notification No. 13/2020–Central Tax, dated 21st March, 2020—Notification No. 70/2020 – Central Tax, dtd. 30-9-2020 [F. No.CBEC-20/06/09/2019-GST] 99 >>   
CORPORATE LAWS & GST : STATUTES - Amendments in Notification No.14/2020-Central Tax, dated 21st March, 2020—Notification No. 71/2020 - Central Tax, dtd. 30-9-2020 [F. No. CBEC 20/06/07/2019-GST] 99 >>   
CORPORATE LAWS & GST : STATUTES - Central Goods and Services Tax (Eleventh Amendment) Rules, 2020—Notification No. 72/2020 – Central Tax, dtd. 30-09-2020 [F. No.CBEC-20/06/09/2019-GST] 99 >>   
CORPORATE LAWS & GST : STATUTES - Registered Persons Required to Obtain Invoice Reference Number (IRN)—Notification No. 73/2020 – Central Tax, dtd. 1-10-2020 [F. No. CBEC 20/16/09/2019-GST (Part–I)] 100 >>   
CORPORATE LAWS & GST : STATUTES - Corrigendum to Notification No. 72/2020-Central Tax, dated 30th September, 2020—Corrigendum, dtd. 1-10-2020 [F. No. CBEC-20/06/09/ 2019-GST] 100 >>   
CORPORATE LAWS & GST : STATUTES - Further Amendments in Notification No. 12/2017-Central Tax (Rate), dated 28th June, 2017—Notification No. 04 /2020 - Central Tax (Rate), dtd. 30-9-2020 [F. No.354/123/2020 -TRU] 101 >>   
CORPORATE LAWS & GST : STATUTES - Amendments in Notification No.9/2017-Integrated Tax (Rate), dated 28th June, 2017—Notification No. 04/2020- Integrated Tax (Rate), dtd. 30-09-2020 [F.No.354/123/2020-TRU] 101 >>   
CORPORATE LAWS & GST : ARTICLES - Re-Availment of Credit Reversed Under Section 17(5)—Conditions and Limitation Period—CA. SATYADEV PUROHIT 102 >>   
CORPORATE LAWS & GST : ARTICLES - Violation of Insider Trading Norms Leads to Stringent Aftermath—A Case Study—PRAGYA BHANDARI 105 >>   
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