Category: Miscellaneous

*Income tax* Madras HC *No cancellation of registration if trust spending earning from newspaper business for education: Madras HC*

*Income tax* “Delhi – Trib. ” *AO can’t disallow loss in trading from stock option solely on basis of interim order of SEBI*

*Income tax* Bangalore – Trib. *Suo motu disallowance of expenses u/s. 40(a)(ia) could not amount to disallowance u/s. 37*

*Income tax* Gujarat HC *Proviso to sec. 2(15) not applicable as income generated by trust from ‘Garba’ event was utilised for its object*

*Income tax* Madras HC *No refund of tax on prior period income which is declared in subsequent year: HC*

*Income tax* Karnataka HC *Excise duty couldn’t be included while valuing closing stock of goods manufactured and lying in stock*

*GST* New Delhi – CESTAT *ST can’t be imposed on Bariatric surgery as it is not a cosmetic surgery*

*GST* Telangana HC *Telangana HC ordered not to use any physical violence during search operations, interrogations in GST*

*GST* Punjab & Haryana HC *No bail to GST officer who is accused of pressurizing complainant for bribe: P. & H (HC)*

*GST* NAA *NAPA directed builder to reduce price of flats by passing benefit of ITC available to buyers*

*GST* AAR – GUJARAT *No GST exemption on exams conducted by State Examination Board*

*GST* Kerala HC *Detained vehicle and goods to be released on furnishing bank guarantee: Kerala-HC*

*Income tax* Pune – Trib. *Exemption u/s 54B available if deposit in capital gain account scheme made before due date of filing of belated ITR*

*Income tax* Madras HC *No substantial question of law arises on ITAT’s ruling allowing only 50% of salary paid by society to its society*

*Income tax* Madras HC *Sum paid to clear encumbrance of inherited property to be treated as part of cost of acquisition*

*Income tax* Madras HC *AO isn’t empower to challenge SetCom order relying on income disclosed in earlier application which stands abated*

*Income tax* Delhi – Trib. *Non-industrial undertaking cannot claim section 35D deduction in respect of share issue expenses*

*Income tax* CBDT Notification dated 02 Nov 2020 *CBDT notifies Abu Dhabi’s ‘MIC Redwood 1 RSC Ltd.’ as sovereign wealth fund for Sec. 10(23FE) exemption*

*Income tax* Bangalore – Trib. *Telecommunication, insurance charges & Forex loss to be excluded from turnover while computing sec. 10A relief*

*Income tax* Karnataka HC *Second proviso to sec. 40(a)(ia) providing relief from being an assessee-in-default has retrospective effect*

*International Taxation* FC-Australia *Dual residency: Person to be resident in country where he has closer personal & economic relations*

*Transfer Pricing* Ahmedabad – Trib. *A comparable Co. Couldn’t be selected as comparable if it becomes AE of assessee during year*

*Transfer Pricing* Mumbai – Trib. *ALP of loan to foreign subsidiary to be computed on market determined interest rate applicable to repayment currency*

*GST* Delhi HC *Service tax Audit can be done in GST regime: Delhi HC*

*GST* MOF Press Release dated 02 Nov 2020 *Ministry of Finance has facilitated loans of Rs 12,000 crore till date under the Special Window to States/Uts*

*GST* AAR – GUJARAT *Supply of catering service to recipient for its workers is ‘Accommodation, food and beverages services’: Gujarat- AAR*

*GST* Gujarat HC *Authority can’t issue confiscation notice, if assessee complied with High Court order for release of detained goods*

*GST* Gujarat HC *Arrest memo is mandatory & key safeguard against illegal arrest after completion of search and seizure: Gujarat – HC*

*GST* MOF Press Release 01 Nov 2020 *GST Revenue Collections for the month of October, 2020 is Rs. 1,05,155 crores*

*COMPANY LAW/RERA* Supreme Court *SC upholds order of Consumer Commission granting refund to allottees on delay in completion of housing project*

*SEBI* SEBI Circular 04th Nov 2020 *SEBI issues norms for rights issue of units by an unlisted Infrastructure Investment Trust*