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TR Vol-176 Issue-2, 09 Nov 2020
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INCOME TAX : NEWS YOU CAN USE - Bankruptcy Code : SC transfers to itself pleas challenging IBC law on personal guarantors 2 >>   
INCOME TAX : NEWS YOU CAN USE - E-Commerce Policy : Govt in final stage of drafting e-commerce policy, says minister 3 >>   
INCOME TAX : NEWS YOU CAN USE - Fiscal Deficit : Revenue stress; Fiscal deficit in first half soars to 115% of target 4 >>   
INCOME TAX : NEWS YOU CAN USE - Income Tax Refunds : IT refunds of Rs 1.27 trillion issued so far this fiscal, says Finance Secy 5 >>   
INCOME TAX : NEWS YOU CAN USE - Lower Tax Regime : People opting for lower tax regime not eligible for LTC stimulus: Govt 5 >>   
INCOME TAX : NEWS YOU CAN USE - Moratorium : Credit alert; Understanding the moratorium math 6 >>   
INCOME TAX : NEWS YOU CAN USE - Enforce waiver of interest on interest scheme; RBI to lending institutions 7 >>   
INCOME TAX : NEWS YOU CAN USE - Govt. rings in Diwali, waives interest on interest for loans up to Rs 2 cr 7 >>   
INCOME TAX : NEWS YOU CAN USE - MSMEs : MSMEs backbone of economy, can help in boosting exports: Nitin Gadkari 9 >>   
INCOME TAX : NEWS YOU CAN USE - Sovereign Bonds : RBI encourages investment in sovereign bonds as part of liquidity measures 9 >>   
INCOME TAX : NEWS YOU CAN USE - Vivad se Vishwas : Taxpayers can make payments under 'Vivad se Vishwas' scheme till March 31 10 >>   
INCOME TAX : STATUTES - Clarifications in Respect of the Direct Tax Vivad se Vishwas Act, 2020- Extension of Date of Payment—Circular No. 18/2020, dtd. 28-10-2020 [F.No. IT(A)/1/2020-TPL] 11 >>   
INCOME TAX : STATUTES - Equalisation Levy (Amendment) Rules, 2020—Notification No. 87/2020, dtd. 28-10-2020 [F. No. 370142/21/2020-TPL] 12 >>   
INCOME TAX : STATUTES - Section 280A—Special Courts—Constitution of—Notification No. 86/2020, dtd. 28-10-2020 [F. No. 285/09/2018-IT(Inv.V) CBDT] 20 >>   
INCOME TAX : STATUTES - Taxation and Other Laws—Extension of Due Dates Under Income Tax Act—Notification No. 88/2020, dtd. 29-10-2020 [F. No. 370142/35/2020-TPL] 20 >>   
INCOME TAX : STATUTES - Section 10(23FE)—Exemption to Specified Person from Investments in India—MIC Redwood 1 RSC Limited, Abu Dhabi, United Arab Emirates Specified—Notification No. 89/2020, dtd. 2-11-2020 [F. No. 370133/16/2020-TPL] 21 >>   
INCOME TAX : STATUTES - Income Tax Department Conducts Searches in Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa—Press Release, dtd. 27-10-2020 23 >>   
INCOME TAX : STATUTES - Income Tax Department Conducts Searches in Tamil Nadu—Press Release, dtd. 29-10-2020 24 >>   
INCOME TAX : STATUTES - Payment Date Extended for Vivad se Vishwas Scheme : Finance Secretary urges I-T Department to Reach Out to the Taxpayers—Press Release, dtd. 27-10-2020 25 >>   
INCOME TAX : STATUTES - Income Tax Department Conducts Searches in Uttar Pradesh—Press Release, dtd. 29-10-2020 26 >>   
INCOME TAX : STATUTES - Income Tax Exemption for Payment of Deemed LTC fare for non-Central Government Employees—Press Release, dtd. 29-10-2020 27 >>   
INCOME TAX : STATUTES - Income Tax Department Conducts Searches in Bihar—Press Release, dtd. 30-10-2020 28 >>   
INCOME TAX : SUBSCRIBER’S QUERIES - Tax deduction under section 194-IC—Joint Development Agreement—Liability to deduct tax where Joint venture agreement is executed between two companies/partnership firm 30 >>   
INCOME TAX : ARTICLES - Penalty for False Entry, etc. in Books of Accounts Under Section 271AAD—A Comprehensive Analysis—CA. MANOJ GUPTA 31 >>   
INCOME TAX : ARTICLES - Does Slump Sale of Undertaking Disentitle the Transferee the Benefit of Deduction Under Section 80-IA?—V.K. SUBRAMANI 53 >>   
INCOME TAX : ARTICLES - Satisfaction by AO Under Section 153C is Must in Respect of the Assessee, i.e., a Third Party, Otherwise Assessment shall be held to be Invalid—AKHILESH KUMAR SAH 58 >>   
INCOME TAX : CASE LAW DIGESTS - ACIT v. Siyaram Metals (P) Ltd. (2020) 176 TR (A) 209 (Raj-Trib) : 2020 TaxPub(DT) 3252 (Rkt-Trib) 89 >>   
INCOME TAX : CASE LAW DIGESTS - CIT v. Tidel Park Ltd. (2020) 176 TR (A) 180 (Mad-HC) : 2020 TaxPub(DT) 2875 (Mad-HC)  61 >>   
INCOME TAX : CASE LAW DIGESTS - Coventya India (P.) Ltd. v. Dy. CIT (2020) 176 TR (A) 187 (Pune-Trib) : 2020 TaxPub(DT) 1045 (Pune-Trib) 68 >>   
INCOME TAX : CASE LAW DIGESTS - Decent Metal Products v. ITO (2020) 176 TR (A) 208 (Raj-Trib) : 2020 TaxPub(DT) 2910 (Rkt-Trib)  88 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Tata Power Delhi Distribution Ltd. (2020) 176 TR (A) 200 (Del-HC) : 2020 TaxPub(DT) 1785 (Del-HC) 80 >>   
INCOME TAX : CASE LAW DIGESTS - Gateway Terminals (P) Ltd. v. Dy. CIT (2020) 176 TR (A) 189 (Mum-Trib) : 2020 TaxPub(DT) 2325 (Mum-Trib) 70 >>   
INCOME TAX : CASE LAW DIGESTS - IBM India (P) Ltd. v. Asstt. CIT (2020) 176 TR (A) 180 (Bang-Trib) : 2020 TaxPub(DT) 3023 (Bang 'A'-Trib)  62 >>   
INCOME TAX : CASE LAW DIGESTS - J.B. Boda Reinsurance Brokers (P) Ltd. v. Asstt. CIT (2020) 176 TR (A) 183 (Mum-Trib) : 2020 TaxPub(DT) 2986 (Mum-Trib)  64 >>   
INCOME TAX : CASE LAW DIGESTS - KJMC Capital Market Services Ltd. v. Dy. CIT (2020) 176 TR (A) 184 (Mum-Trib) : 2020 TaxPub(DT) 1605 (Mum-Trib) 65 >>   
INCOME TAX : CASE LAW DIGESTS - Krishna Mohan Reddy Tummalapalli v. ITO (2020) 176 TR (A) 184 (Hyd-Trib) : 2020 TaxPub(DT) 2519 (Hyd-Trib)  65 >>   
INCOME TAX : CASE LAW DIGESTS - Late Shri Badam Chandrasekhara Reddy v. ITO (2020) 176 TR (A) 195 (Hyd-Trib) : 2020 TaxPub(DT) 1383 (Hyd-Trib) 76 >>   
INCOME TAX : CASE LAW DIGESTS - Pranavananda Agro Storage (P.) Ltd. v. ITO (2020) 176 TR (A) 198 (Kol-Trib) : 2019 TaxPub(DT) 8430 (Kol-Trib) 78 >>   
INCOME TAX : CASE LAW DIGESTS - Rajnibhai Jivraj Desai v. Dy. CIT (2020) 176 TR (A) 198 (Ahd-Trib) : 2020 TaxPub(DT) 1631 (Ahd-Tribl) 79 >>   
INCOME TAX : CASE LAW DIGESTS - Sundaram Finance Ltd. v. Jt. CIT (2020) 176 TR (A) 185 (Chen-Trib) : 2019 TaxPub(DT) 6541 (Chenn-Trib) 66 >>   
INCOME TAX : CASE LAW DIGESTS - Tata Capital Ltd. v. ACIT (2020) 176 TR (A) 184 (Mum-Trib) : 2020 TaxPub(DT) 839 (Mum-Trib)  65 >>   
INCOME TAX : CASE LAW DIGESTS - Tata Power Co. Ltd. v. Asstt. CIT (2020) 176 TR (A) 183 (Mum-Trib) : 2019 TaxPub(DT) 8361 (Mum-Trib)  64 >>   
INCOME TAX : CASE LAW DIGESTS - Tata Steel Ltd. v. Asstt. CIT (2020) 176 TR (A) 207 (Mum-Trib) : 2020 TaxPub(DT) 2893 (Mum-Trib)  88 >>   
INCOME TAX : CASE LAW DIGESTS - Thyssenkrupp Industrial Solutions (India) (P) Ltd. v. Addl. CIT (2020) 176 TR (A) 190 (Mum-Trib) : 2020 TaxPub(DT) 2788 (Mum-Trib) 71 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - SEBI : Reforms in IPO rules discussed with investors from US, says SEBI 94 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - SEBI bars investment bankers from sharing bidding data with investors 95 >>   
CORPORATE LAWS & GST : NEWS YOU CAN USE - GST : Petroleum ministry says it supports including natural gas under GST 95 >>   
CORPORATE LAWS & GST : STATUTES - Time Limit for Furnishing FORM GSTR-1 by Registered Persons Having Aggregate Turnover of up to 1.5 Crore Rupees Extended—Notification No. 74/2020 – Central Tax, dtd. 15-10-2020 [F. No. CBEC 20/06/09/2019-GST] 97 >>   
CORPORATE LAWS & GST : STATUTES - Time Limit for Furnishing FORM GSTR-1 by Registered Persons Having Aggregate Turnover Exceeding 5 Crore Rupees—Notification No 75/2020 – Central Tax, dtd. 15-10-2020 [F. No. CBEC 20/06/09/2019-GST] 98 >>   
CORPORATE LAWS & GST : STATUTES - Time Limit for Furnishing FORM GSTR-3B Extended—Notification No. 76/2020 – Central Tax, dtd. 15-10-2020 [F. No. CBEC 20/06/09/2019-GST] 98 >>   
CORPORATE LAWS & GST : STATUTES - Amendment in Notification No. 47/2019-Central Tax dated 9th October, 2019—Notification No. 77/2020 - Central Tax, dtd. 15-10-2020 [F. No. 20/06/09/2019-GST] 99 >>   
CORPORATE LAWS & GST : STATUTES - Amendment in Notification No.12/2017–Central Tax, dated 28th June, 2017—Notification No. 78/2020 – Central Tax, dtd. 15-10-2020 [F. No. CBEC-20/06/09/2019-GST] 99 >>   
CORPORATE LAWS & GST : STATUTES - Central Goods and Services Tax (Twelveth Amendment) Rules, 2020—Notification No. 79 /2020 – Central Tax, dtd. 15-10-2020 [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. 05/2020 - Central Tax (Rate), dtd. 16-10-2020 [F. No.354/135/2020 -TRU] 102 >>   
CORPORATE LAWS & GST : STATUTES - Following Amendment in Notification No. 5/2017-Integrated Tax, dated 28th June, 2017—Notification No. 06/2020 – Integrated Tax, dtd. 15-10-2020 [F. No. CBEC-20/06/09/2019-GST] 103 >>   
CORPORATE LAWS & GST : STATUTES - Further Amendments in Notification No.9/2017-Integrated Tax (Rate), dated 28th June, 2017—Notification No. 05/2020-Integrated Tax (Rate), dtd. 16-10-2020 [F. No.354/135/2020 -TRU] 104 >>   
CORPORATE LAWS & GST : STATUTES - Further Amendments in Notification No.12/2017-Union Territory Tax (Rate), dated 28th June, 2017—Notification No. 05/2020 - Union Territory Tax (Rate), dtd. 16-10-2020 [F. No.354/135/2020 -TRU] 104 >>   
CORPORATE LAWS & GST : STATUTES - Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020—Amendment in Rule 14—Notification No. G.S.R. 642(E) [F. No. 1/21/ 2013-CL-V-Part], dtd. 16-10-2020 105 >>   
CORPORATE LAWS & GST : ARTICLES - Detention of Goods for Taking Different Route—Validity—BHUWAN PRAKASH 106 >>   
CORPORATE LAWS & GST : STATUTES - Ineligibility of Promoter’s Daughters Holding More than 10% of Voting Rights to Seek Re-classification From ‘Promoter Group’ to ‘Public’ Category, Irrespective of Their Marital Status—PRAGYA LALWANI 110 >>   
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