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    SBS Wiki E Journal April 2020

    SBS Wiki E Journal April 2020

    The uncertainty continues and across the globe, nations are fighting with this ever-growing pandemic. The invention for the vaccine is at a tremendous pace and I am optimistic, the human race will find a solution and this is not the first time we have faced with this adversity. I wish and pray that every one of us should be impacted at the minimum possible and situation may be restored to normalcy at the earliest.

    At times like these, in order to demonstrate the positivity and optimism, I have asked our team to work on the journal. The article on holding of board meeting and general meeting vide video conference in light of the recent MCA’s relaxation deals with various provisions relating to conduct of the board meeting and general meeting. The article on special initiatives taken by MCA keeping the pandemic in perspective details major changes at one place.

    The article on place of supply in case of scientific research and technical testing and analysis services is a deep dive into the place of supply qua the said services. There were contradicting judgments in this space and the article tries to interpret such judgments and suggest a way forward.

    The article on treatment of gain/loss arising on forex fluctuations deals with position of such loss/gain pre and post Section 43AA vis-à-vis capital and revenue by considering various judgements in this connection. The question whether loss/gain arising out of a capital transaction would be eligible for deduction/ subjected to tax post Section 43AA read with ICDS-06, which is against the settled judicial principles has to be answered again by the courts.

    I hope that you will have good time reading this edition and please do share your feedback. I will also urge clients to mail us topics or issues on which you want us to deliberate in our future editions, so that we can contribute to the same.

    Key Topics:

    DIRECT TAXATION

    • TREATMENT OF GAIN/LOSS ON FOREIGN EXCHANGE FLUCTUATIONS

    GST

    • A DEEP DIVE INTO THE PLACE OF SUPPLY OF SCIENTIFIC RESEARCH TECHNICAL TESTING AND ANALYSIS SERVICES

    COMPANIES ACT

    • HOLDING BM AND GM - VIDEO CONFERENCE
    • SPECIAL INITIATIVES BY MINISTRY OF CORPORATE AFFAIRS
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