Month: May 2016

Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities

Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities

May 28, 2016 Income Tax, ITAT, Judgments
Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities. Case Law Details: ITA No.85/Lkw/2016  Block Period ending on 14/09/2002 Dr. Harnam Singh vs. ACIT Date of Judgment: 27/05/2016 Brief Facts of the Case: During …
GAAR Provisions Guidance Note. Provisions effective from FY 2017-18. Comments invited from general public and stakeholders-CBDT Press Release

GAAR Provisions Guidance Note. Provisions effective from FY 2017-18. Comments invited from general public and stakeholders-CBDT Press Release

May 28, 2016 Income Tax
F No 370149/89/2016-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) Dated: the 27th May, 2016 PRESS RELEASE Subject: Implementation of General Anti Avoidance Rule Provisions-Issuance of Guidance Note-Comments of the Stakeholders-reg. The provisions of General Anti Avoidance Rule (GAAR) are contained …
No Mandatory 12AA registration cancellation for turnover cut-off as per proviso to section 2(15) if no change in nature of activities-CBDT Circular 21/2016

No Mandatory 12AA registration cancellation for turnover cut-off as per proviso to section 2(15) if no change in nature of activities-CBDT Circular 21/2016

May 27, 2016 Income Tax
No Mandatory 12AA registration cancellation for business/trade turnover limit cut-off as per proviso u/s 2(15) if no change in  nature of activities Circular No. 21/2016 F No. 197/17/2016-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 27th May, 2016 …
Clarifications for implementation of FATCA and CRS-CBDT. Obtaining Self Certification, TIN, Account Balance Value and Procedure for furnishing report

Clarifications for implementation of FATCA and CRS-CBDT. Obtaining Self Certification, TIN, Account Balance Value and Procedure for furnishing report

May 27, 2016 Income Tax
Clarifications for implementation of FATCA and CRS F.No. 504/632/12015-FT&TR-III(1) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Foreign Tax & Tax Research Division) Dated 26th May, 2016 Subiect: Clarifications for implementation of FATCA and CRS-reg Pursuant to the consultations held with Financial …
Compliance of natural justice in disciplinary inquiry necessary. There are no specific statutory rule requiring observance of natural justice-Supreme Court

Compliance of natural justice in disciplinary inquiry necessary. There are no specific statutory rule requiring observance of natural justice-Supreme Court

May 27, 2016 Judgments, Supreme Court
Compliance of natural justice in disciplinary inquiry necessary-Supreme Court The Supreme Court in a recent judgment has dwelt upon the compliance of principles of natural justice in a disciplinary inquiry and summarised the emerging points on the subject. Case Details: Civil Appeal No. 2265 of 2011 Chamoli District Co-operative Bank Ltd. & …
Krishi Kalyan Cess-Determination of taxable services value to be in accordance with the Service Tax Determination of Value Rules, 2006. Notification 28/2016

Krishi Kalyan Cess-Determination of taxable services value to be in accordance with the Service Tax Determination of Value Rules, 2006. Notification 28/2016

May 27, 2016 Service Tax
Krishi Kalyan Cess-Determination of Taxable Services Value GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 28/2016-Service Tax New Delhi, the 26th May, 2016 G.S.R. —(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) …
SEZ Unit-Developer service tax refund on services on which ab-initio exemption admissible but not claimed or amount distributed-CBEC Notification 30/2016

SEZ Unit-Developer service tax refund on services on which ab-initio exemption admissible but not claimed or amount distributed-CBEC Notification 30/2016

May 27, 2016 Service Tax
SEZ Unit-Developer service tax refund GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 30/2016-Service Tax New Delhi, the 26th May, 2016 G.S.R. —(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), read with …