Author: administrator

50C provisions not apply to transfer of right in partnership firm. Sale deed of property executed in favour of incoming partners by retiring partners-ITAT

50C provisions not apply to transfer of right in partnership firm. Sale deed of property executed in favour of incoming partners by retiring partners-ITAT

December 2, 2016 Income Tax, ITAT, Judgments
50C provisions not apply to transfer of right in partnership firm. Sale deed was executed in favour of incoming partners for transferring retiring partner’s right in the property belonging to the partnership firm-ITAT ABCAUS Case Law Citation: ABCAUS 1070 (2016) (12) ITAT Assessment Year: 2011-12 Date/Month of Judgment/Order: …
Employee reserve share cap in public offer raised to 5 lakhs from existing Rs. 2 lakhs in issue made through the book building process-SEBI

Employee reserve share cap in public offer raised to 5 lakhs from existing Rs. 2 lakhs in issue made through the book building process-SEBI

December 2, 2016 SEBI
Employee reserve share cap in public offer raised to 5 lakhs from existing Rs. 2 lakhs in issue made through the book building process-SEBI  SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA(ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (FOURTH …
Seized-confiscated custom gold sales guidelines. Disposal to be routed through PSBs approved by RBI to import sell gold, MMTC Ltd. and STC Ltd

Seized-confiscated custom gold sales guidelines. Disposal to be routed through PSBs approved by RBI to import sell gold, MMTC Ltd. and STC Ltd

December 1, 2016 Custom
Seized-confiscated custom gold sales guidelines. Disposal  to be routed through PSBs approved by RBI to import sell gold, MMTC Ltd. and STC Ltd. Circular No. 57/2016-Customs F. No. 711/04/2011-CUS (AS) Government of India Ministry of Finance Department of Revenue Anti Smuggling Unit (CBEC) Room No. 512, 51th Floor, …
Fake RBI social media demonetisation circular information. RBI advises bank and public not to rely onunsecured-unofficial social media chanels

Fake RBI social media demonetisation circular information. RBI advises bank and public not to rely onunsecured-unofficial social media chanels

December 1, 2016 RBI
Fake RBI social media demonetisation circular information. RBI advises bank and public not to rely onunsecured-unofficial social media channels. From yesterday, a fake circular/notification bearing serial number RBI/2016-17/166 purporting to be from RBI was in active circulation in social media channels (whatsapp, facebook accounts etc. ). According to …
Jewellery acquired out of disclosed-exempted income not taxable under the proposed taxation amendment Bill 2016

Jewellery acquired out of disclosed-exempted income not taxable under the proposed taxation amendment Bill 2016

December 1, 2016 Finance Ministry
Jewellery acquired out of disclosed-exempted income not taxable under the proposed taxation amendment Bill 2016-Govt clears apprehensions Ministry of Finance 01-December, 2016 Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become …
Imprest account not necessarily part of partner capital account as held by ITAT was without properly analysing evidence-HC

Imprest account not necessarily part of partner capital account as held by ITAT was without properly analysing evidence-HC

December 1, 2016 High Courts, Income Tax, Judgments
Imprest account not necessarily part of partner capital account as held by ITAT was based merely on partner’s statement without properly analysing the evidence-High Court ABCAUS Case Law Citation: ABCAUS 1068 (2016) (11) HC Brief Facts of the Case: The responding assessee was a partnership fir. The return …