Month: June 2016

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

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 …

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

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 …

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

 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 …

Foreign Tax Credit Income Tax Rule 128. Resident allowed credit for foreign tax paid in country/specified territory outside India CBDT Notification 54/2016

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Income-tax Notification No. 54/2016 New Delhi, the Dated: 27th June, 2016 S.O.2213(E).─ In exercise of the powers conferred by clause(ha) of sub-section (2) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct …

Charter for Chartered Accountants under Foreign Contribution (Regulation) Act (FCRA) 2010. CAs are required to provide proper guidance to the associations

Charter for Chartered Accountants under FCRA 2010  Since the Foreign Contribution (Regulation) Act, 2010 (FCRA, 2010) is national security legislation; associations are required to exercise extreme care and caution in dealing with foreign contribution from the time of its receipt to its final utilization. As the Chartered Accountants audit …