Daily Archive: Friday, March 11, 2016

CBDT Revised Guidelines for Implementation of Transfer Pricing Provisions Instruction No. 03/2016

Author: | Categories: Income Tax, Instructions No comments
Instruction No. 3/2016 F. No. 500/9/2015-APA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax and Tax Research Division-I APA-II Section New Delhi, dated 10th March, 2016 Subject:  Guidelines for Implementation of Transfer Pricing Provisions-Replacement of Instruction No. 15/2015 -Regarding The provisions relating

 

Verification of Genuineness of Agricultural Income shown in the Income Tax Return filed by the assesses for AY 2007-08 to 2015-16

Author: | Categories: Income Tax, Instructions No comments
Central Board of Direct Taxes F. No. DGIT(S)/DIT(S)-3/AST/PIL/2015-16 Dated: 10/03/2016 Verification of Genuineness of Agricultural Income shown in the Income Tax Return filed by theassesses for AY 2007-08 to 2015-16 – reg. The CBDT has issued the above letter in which it has pointed out that several assesses have declared

 

CIT Revision u/s 263 unjustified alleging wiping out income surrendered u/s 133A treating it business income and not separately u/s 69A

Author: | Categories: Income Tax, ITAT, Judgments No comments
INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 203(Asr)/2014 Assessment Year: 2009-10 M/s Superfine Agro Industries (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 10/03/2016 ORDER PER T. S. KAPOOR (AM): This is an appeal filed by assessee against the order of learned CIT, dated 04.02. 2014 passed u/s 263,

 

Revision u/s 263 not justified in case of best judgment assessment u/s 144 for non co-operation by assessee

Author: | Categories: Income Tax, ITAT, Judgments No comments
INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 220(Asr)/2015 Assessment Year: 2010-11 M/s Sutlej Wine Enterprises (Appellant) vs. PrCIT (Respondent) Date of Order: 10/03/2016 ORDER PER T. S. KAPOOR (AM): This is an appeal filed by assessee against the order of learned CIT, dated 30.03. 2015 passed u/s 263,

 

Buy back calculations when audited accounts more than six months old-MCA Notification

Author: | Categories: Companies Act, Notifications No comments
Government of India Ministry of Corporate Affairs Notification New Delhi, 10th March, 2016 GSR….(E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies

 

Rationalization of Interest Rates of Small Savings Scheme wef 01/04/2016

Author: | Categories: Income Tax, Press Release No comments
Ministry of Finance 11-March, 2016 Rationalization of Interest Rates of Small Savings Scheme The Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 has been formulated and notified on 19th May, 2015. PFRDA regulations have not specifically stipulated any fixed investment management fee. However, Regulation 20 of the

 

Online withdrawal application mandatory under New Pension Scheme from 01/04/2016

Author: | Categories: Income Tax, Press Release No comments
Ministry of Finance 11th March, 2016 Online Application for Withdrawal under New Pension Scheme The Pension Fund Regulatory and Development Authority (PFRDA) had issued a Circular dated February 25, 2015, making it mandatory for all the Nodal Offices to process the withdrawal claims of their underlying subscribers on the