Author: administrator
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA (IN PURSUIT OF PROFESSIONAL EXCELLENCE) (“Statutory Body under an Act of Parliament”) NOTIFICATION New Delhi, the 1st April, 2016 ICSI No.1 of April, 2016 – The Council of the Institute of Company Secretaries of India pursuant to sub-section (1) of Section …
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 5/2016 New Delhi, 6th of April, 2016 Subject: Electronic Verification Code (EVC) for electronically filed Form of Appeal to Commissioner (Appeals) In exercise of the powers conferred by sub-section (1) …
In a latest judgment, the Delhi High Court has held that activity of 2D/3D seismic survey carried on by assessee in connection with oil exploration was not fees for technical services u/s 9(1)(vii) but liable to taxation u/s 44BB. Case Law Details: ITA 612/2012 PGS Exploration (Norway) ….Appellant vs. …
Circular No. 1023/11/2016-CX Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Customs) New Delhi, the 8th April, 2016 To All Principal Chief Commissioners/Chief Commissioners of Customs, Central Excise & Service Tax All Director Generals/Director s of Customs, Central Excise & Service Tax; …
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 4/2016 New Delhi, April,2016 Procedure for registration and submission of statement as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule …
In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that there is a difference in “facts not proved” and “facts disproved” and penalty can be levied only for the latter. Case Law Details: ITA No.1730/Mds./2015 Assessment Year :2010-11 Mr.R.A.Palanisamy vs. Income Tax Officer Date of …
No. 1/1/2016-E·II (B) Government of India Ministry of Finance Department of Expenditure ***** North Block, New Delhi Dated the 7th April, 2016. OFFICE MEMORANDUM Subject: Payment of Dearness Allowance to Central Government employees – Revised Rates effective from 1.1.2016 The undersigned is directed to refer to this Ministry’s …
In a latest judgment, Delhi High Court has quashed CBDT order rejecting refund of TDS deducted on penal interest treating it non-exempt u/s 10(15)(iv)(c) considering it as a result of violation/transgression of the loan agreement. The Court observed that the penal interest was imposed as part of the conditions of the …
In a latest judgment, ITAT Chennai has upheld that allowing set off of business loss from the unexplained cash credits u/s 68 not permissible in view of harmonious and combined reading of sections 71 , 72 and 32(2). Case Law Details: I.T.A.No.325/Mds./2015 vs. Assessment Year :2006-07 Deputy Commissioner of Income Tax …
In a recent judgment, ITAT Chennai has held that the assessee is not entitled to additional depreciation u/s.32(1)(iia) of the Income Tax Act, 1961 on the machineries acquired in earlier year than the relevant financial year as there is no provision for postponement or carry forward of the residual …
