News Desk on Income Tax, GST & Corporate Laws-12th Dec 2020 to 15th Dec 2020

Updates-Income Tax, International Taxation & Transfer Pricing

*Income tax*Karnataka HC*Discount on issue of debentures is deductible u/s. 37 in proportion to percentage of redemption*
*Income tax*SC*Transfer of case was justified as show-cause notice has clearly spelt out reasons for transfer; SC dismissed SLP*
*Income tax*Madras HC*HC remanded matter as ITAT failed to examine fact that whether investment in gold bullion violate Sec. 11(5)*
*Income tax*Ahmedabad – Trib.*Amount paid over net book value of assets & liabilities acquired in amalgamation eligible for depreciation*
*International taxation*Delhi – Trib.*Huawei’s branch office constitutes PE as expat employees have control to carry out business activities in India*

Updates-Goods and Service Tax (GST)

*GST*Gujarat HC*Rule 86A which enables Dept. to block ITC of taxpayers has been challenged before GUJ HC*
*GST*AAR – WEST BENGAL*No GST on supply of conservancy service to military Stations: AAR WB*
*GST*AAR – WEST BENGAL*Fabrication and painting of steel structures at construction site to be treated as mixed supply*
*GST*AAR-HIMACHAL PRADESH *Advance Ruling non-maintainable on admissibility of ITC where tax not paid or paid through ineligible ITC*
*GST*Gujarat HC *SEZ unit allowed refund of ITC received from the ISD unit : Gujarat HC*
*GST*Allahabad HC*HC permitted to reproduce online records maintained by assessee before the authority*
*GST*Kerala HC*Goods detained on grounds of bona fide dispute of rate of tax are not sustainable : Kerala HC*

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