Monthly Archive:: June 2016

Pre-2005 Banknotes Exchange from 01072016 at RBI Select Offices-Cities. These pre-2005 banknotes will continue to remain legal tender.

Author: | Categories: RBI No comments
Pre-2005 Banknotes Exchange from 01072016 at RBI Select Offices-Cities.  Reserve Bank of India Exchange of Pre-2005 Banknotes at Select Offices of RBI from July 01, 2016 Date : Jun 30, 2016 The Reserve Bank of India has observed that a major portion of the pre-2005 banknotes have been withdrawn

 

Limitation us 275 imposing penalty starts from date of initiation by AO though it is imposable by Addl/JCIT. Penalty us 272A(2)(k), 271C held time barred

Author: | Categories: Income Tax, ITAT, Judgments No comments
Limitation us 275 imposing penalty starts from the date of initiation by the Assessing Officer though it is imposable by Additional/Joint Commissioner of Income-tax but there is no bar on the initiation of penalty proceedings by the ITO. Proceedings us 272A(2)(k), 271C held time barred by ITAT ABCAUS Case

 

Assessment u/s 153A based on pre-search enquiries and not on incriminating material unearthed during search seizure operation u/s 132 invalid – ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Assessment u/s 153A based on pre-search enquiries and not on incriminating material unearthed during search seizure operation u/s 132 invalid – ITAT ABCAUS Case Law Citation: 960 2016 (06) ITAT Date/Month of Order/Judgment – June, 2016 Assessment Year: 2006-07 & 2007-08 Important Judgments Cited/Relied upon: CIT vs. Kabul Chawla –

 

National Company Law Tribunal Listing of matters wef 01072016 before Principal/New Delhi Bench based on paid up capital up to or more than 50 Lakhs

No. 25/1/2016-NCLT Government of India National Company Law Tribunal, 6th Floor. Block -3, CGO Complex Lodhi Road, New Delhi-110003 Dated 29th June, 2016 ORDER Consequent to the notification no. S.O. 1935 (E) dated 1.6.2016 issued by the Central Government, Ministry of Company Affairs following criteria has been laid down

 

Companies Acceptance of Deposits Amendment Rules 2016. More exceptions where receipts shall not constitute deposits and rule for Startup companies

Author: | Categories: Companies Act No comments
Government of India Ministry of Corporate Affairs Notification. New Delhi, dated, the 29th June, 2016 G.S.R. (E). – In exercise of the powers conferred by sections 73 and 76 read with sub-­section (1) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes

 

7th Central Pay Commission recommendations. Central Govt has approved the Implementation of 7th CPC with effect from 01-01-2016. Highlights

Author: | Categories: Finance Ministry No comments
 7th Central Pay Commission recommendations. Central Govt has approved the Implementation of 7th CPC with effect from 01-01-2016. Highlights Cabinet decisions on Implementation of the recommendations of 7th Central Pay Commission The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the implementation of the recommendations of

 

Determination of FMV of assets and apportionment of income in certain cases. Rule 11UB 11UC 114DB Information to be furnished u/s 285A. Notification 55/2016

Author: | Categories: Income Tax No comments
FMV of assets and apportionment of income in certain cases. Rule 11UB Rule 11UC Rule 114DB Information to be furnished u/s 285A. Form 49D Form 3CT MINISTRY OF FINANCE Department of Revenue CENTRAL BOARD OF DIRECT TAXES Notification No. 55/2016 New Delhi, Dated:  28th June, 2016 INCOME-TAX S.O. 2226(E).-In