| *Income tax* | Madras HC | *Writ not admissible against assessment order if it was passed on merits and AO followed principles of natural justice: HC* |
| *Income tax* | Madras HC | *Interest on bank deposits earned by an AOP being a determinate trust is taxable in the hands of beneficiaries* |
| *Income tax* | Jaipur – Trib. | *Financial help provided to resulting entity after demerger couldn’t be held as violation of sec. 10(23C)* |
| *Income tax* | Karnataka HC | *Cost of shares acquired on conversion of bonds to be determined on basis of price prevailing on BSE or NSE* |
| *Income tax* | Madras HC | *CIT was justified in granting registration from 2nd application as no steps were taken to dispose of 1st application* |
| *Income tax* | Mumbai – Trib. | *Exp. attributable to exempt income to be added back for MAT computation without resorting to sec. 14A disallowances* |
| *Income tax* | Karnataka HC | *Discount on issue of ESOPs is deducible u/s 37 as it is an exp. to secure services of employee* |
| *Transfer Pricing* | Mumbai – Trib. | *Two enterprises to be treated as AE if conditions mentioned in both sub-sections (1) & (2) of section 92A fulfils* |
| *GST* | News | *Gross GST Revenue of Rs 1,04,963 crores collected in November,2020* |
| *GST* | NAA | *P&G guilty of profiteering for not passing benefit of tax reduction to ultimate customers: NAA* |
| *GST* | Kerala HC | *Immunity from interest & penalty can’t be granted when assessee opted to pay tax u/s 74 tax to avoid SCN : Kerala HC* |
| *GST* | News | *Online unblocking of E-Way Bill (‘EWB’) facility is now made available to the taxpayers* |
| *GST* | AAAR-MAHARASHTRA | *Gaming Zone operated in mall can’t be construed as access to amusement park, taxable at the rate of 28%: MH AAAR* |
| *GST* | News | *Punjab also opted Option-1 to meet GST implementation shortfall* |
| *GST* | NOTIFICATION NO.89 | *No penalty will be imposed for QR Code requirement for Dec 20-Mar 21, if compliance is done from Apr 21: Notification* |
| *GST* | AAAR-KARNATAKA | *“Micafunign Sodium” is dry solid form drug, it is taxable @ 5%: Kar. AAAR* |
| *GST* | AA – GST – AP | *Penalty order is valid if goods detained on ground of expiration of EWB* |
| *SEBI* | CIRCULAR No. SEBI/HO/MIRSD/DOP/CIR/P/2020/235 | *SEBI further extends timeline for conducting internal audit and system audit* |
| *SEBI* | NOTIFICATION S.O. 4283(E) | *Govt. designates certain Civil Court and Session Courts as Special Court in States of Maharashtra. T.N. and W. Bengal* |
| *Company Law* | SC | *SCN issued to Managing Director of a Co. was treated as issued to both MD and Co. when they were treated as one* |
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