Adequate stocks of new notes kept ready in Currency Chests at more than 4000 places in the country, Printing Presses printing the notes at full capacity-RBI Reserve Bank of India Date : Nov 12, 2016 Withdrawal of Legal Tender Character of ₹ 500 and ₹ 1,000: RBI Statement …
RBI issue of inset letter L Rs 500 denomination banknotes. Inset Letter L is in both the number panels in Mahatma Gandhi (New) Series Reserve Bank of India Date : Nov 13, 2016 Issue of ₹ 500 banknotes inset letter ‘L’ in Mahatma Gandhi (New) Series The Reserve …
Depreciation and exemption both not allowable to charitable trust. Statutory provision u/s 32 to prevail over customary practice-commercial principle-ITAT The allowability of the depreciation claim to a charitable trust/institution in calculating prescribed limit of 85% towards income application u/s 11 of the Income tax Act, 1961 was settled …
Satisfaction recording 153C-same AO for searched-other person. Even if AO is one then also satisfaction has to be recorded as held by Supreme Court ABCAUS Case Law Citation: 1050 (2016) (11) ITAT The Grievance: In the instant case both Revenue and the assessee were aggrieved by the …
Chairman Black Money SIT & Former SC Judges praise old note ban. Letter to Finance Minister that Govt took bold step to demonetize Rs. 500 Rs.1000 notes Ministry of Finance 11-November, 2016 The Chairman and Vice-Chairman, SIT on Black Money & Former Judges of the Supreme Court of …
Old bank Notes-What if you do not have bank account? There are many issues along with peak credit theory which may be debated and litigated With the withdrawal of old currency notes of Rs. 500/- and Rs. 1000/- and declaring them not to be “Legal Tender”, the long …