Income Tax

ITAT disallows grossing up of TDS deducted on interest paid to AE

Lite-on Mobile India Pvt. Ltd. Vs DCIT (ITAT Chennai) dated 03 Nov 2021

Disallowing finance charges, which were allowed in earlier years, needs re-consideration – Matter remanded back to AO

Southern Hills Developers Pvt. Ltd. Vs DCIT (Karnataka High Court) dated 31 Aug 2021

Deduction allowable on loss suffered by assessee on Foreign Exchange Fluctuation Loss

PCIT Vs United Spirits Ltd. (Karnataka High Court) dated 02 Sept 2021

No interest expense disallowance when own fund exceeds capital work-in-progress

Axis Bank Limited Vs DCIT (ITAT Ahmedabad) dated 28 Oct 2021

GST

Separate GST registration need not be obtained at the place of importation

In re Pine Subsidiary Industry (GST AAR Karnataka) dated 29/10/2021

AAR cannot give ruling on whether HSN or SAC needs to be mentioned in invoice

 In re GEW (India) Pvt. Ltd. (GST AAR Karnataka) dated 08/11/2021

GST on job work services such as anodizing, plating, on goods/materials belonging to registered persons

In re ALCOATS (GST AAR Karnataka) dated 29 Oct 2021

Manpower services provided to Government entities not exempt from GST

 In re Sree Vinayaka Enterprises (GST AAR Karnataka) dated 29/19/2021

AAR cannot give ruling on value for levy of IGST on imports

In re HDL Industries (GST AAR Karnataka) dated 29/10/2021

Corporate Laws

Gold smuggling not covered within the definition of terrorist act under Unlawful Activities (Prevention) Act

Mohammed Shafi P. Vs National Investigation Agency (Kerala High Court) dated 02 Nov 2021

Arbitrator has Substantial Discretion in Awarding Interest U/s. 31(7)(a) of Arbitration Act: SC

Punjab State Civil supplies Corporation Limited (SC dated 20/10/2021)

Regards,

Bipul Kumar