Daily Archive: Friday, June 10, 2016

Reopening assessment us 147-148 for verification of details is illegal, A Fishing inquiry is not contemplated in Income Tax Act – ITAT

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Reopening assessment us 147/148 for verification of details illegal The Assessing Officer merely sought to reopen the assessment for verification of the details, which is not contemplated under section 147 of the Act. This was held by ITAT in a recent judgment. ABCAUS Case Law Citation: 939 2016 (06)

Google notice-Publishers to deposit 6% equalisation Levy for invoices raised for online advertisement on or after 01/06/2016 as per Adword terms

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Google notice-Publishers to deposit 6 Percent Equalisation Levy  Hello, This is to inform you that as per the Notification No. 37/ 2016: F.No. 370142/12/2016-TPL dated 27 May 2016 read with Finance Act, 2016, Government of India has levied an ‘Equalisation Levy’ on provision of online advertisement services or any other

ICAI Disciplinary Action against three Members for Mis-conduct in terms of Section 21B 3 and 21A 3 of the Chartered Accountants Act 1949

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ICAI Disciplinary Action against three Members for Mis-conduct in terms of Section 21B 3 and 21A 3 of the Chartered Accountants Act 1949  THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set by up an Act of Parliament) NOTIFICATION New Delhi, the 6th June, 2016 (CHARTERED ACCOUNTANTS) No. DD/174/10/DC/320/2014.—In terms

Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares-ITAT held so relying on 2 HC Judgments

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Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares. This was held in a recent judgment by ITAT placing reliance on two High Court’s verdicts. ABCAUS Case Law Citation: 938 2016 (06) ITAT Date of Judgment: June, 2016 Brief Facts of the Case:

Due dates for e-filing form 15G 15H CBDT Notification 09-2016. Declarations up to 31-03-2016 to be filled till 30/06/2016 and 15th of Next month onwards

Author: | Categories: Income Tax No comments
Due dates for e-filing form 15G 15H  F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-17/4539 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) New Delhi. Notification No 9/2016 Dated: 09th June, 2016 Subject: Simplification of procedure for Form No. 15G & 15H –Clarifications -reg The existing provisions of

Form of application for Licence under Public/Private/Special Warehousing Licensing Regulations, 2016-CBEC Circular 26/2016

Author: | Categories: Excise/Custom No comments
Circular No. 26/ 2016 – Customs F. No. 484 / 30 / 2016- LC Govt. of India Ministry of Finance Department of Revenue Central Board of Excise & Customs ************** New Delhi, dated 9th June 2016 To, All Principal Chief Commissioners Customs, All Principal Chief Commissioners of Customs &

Sale of shares was not business income but investment income ITAT held so quoting CBDT latest circular no. 6/2016, F.No. 225/12/2016/ITA.II dt. 02/5/2016

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In a recent judgment, ITAT has held that the sale of shares by the assessee was not business income but short term capital gain in view of the over all facts and in particular as per CBDT lates circular in this regard. ABCAUS Case Law Citation: 937 2016 (06)
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