In the case of Muller & Philpps (India) Ltd vs. ITO, Hon’ble ITAT Mumbai held that the position of law is clear. It has been held by Hon’ble Supreme Court in the case of GKN Driveshaft 259 ITR 19, that it is mandatory on the part of the AO to provide the copy of the reasons to the assessee
In Riviera Home Furnishing vs. Addl. CIT, Hon’ble Delhi High Court while dealing with the interpretation of Section 10B(4) held that the manner of determining such eligible profits has been statutorily defined in sub-section (4) of section 10B of the Act.
PR No. 297/2015 Sixth Meeting of the International Advisory Board of SEBI The Sixth meeting of the International Advisory Board (IAB) of the Securities and Exchange Board of India (SEBI) was held on December 21 & 22, 2015. The following major issues were inter alia discussed during the meeting: i. Implementation of OECD Principles of […]
The assessee’s sole substantive ground challenges correctness of section 271(1)(c) penalty of Rs. 5 lacs imposed by the Assessing Officer as affirmed in the lower appellate proceedings. He had filed return on 30-04-2007.
The Reserve Bank of India has, on a review, decided to extend the date for the public to exchange their pre-2005 banknotes till June 30, 2016. However, from January 01, 2016, such facility will only be available at identified bank branches (https://www.rbi.org.in/Scripts/Regionaloffices.aspx) and Issue Offices of the Reserve Bank. The Reserve Bank had, in June 2015, set the last date for public to exchange pre-2005 banknotes notes as December 31, 2015.
Notification No. 146/2015-Customs (N.T.) Central Board of Excise and Customs hereby appoints the Principal Commissioner of Customs (Import), Inland Container Depot, Tughlakabad, New Delhi to act as a Common Adjudicating Authority to exercise the powers and discharge the duties conferred or imposed on the officers mentioned in Column 3 in respect of the cases mentioned in Column 2 of the table given below for the purpose of adjudication of the show cause notices mentioned therein-
Instruction No. 18/2015 With effect from 01.04.2001, the provisions of section 115JB shall not be applicable to a foreign company (including an FII/FPI) if:- (i) the foreign company is a resident of a country with which India has a Double Taxation Avoidance Agreement and such foreign company does not have a permanent establishment in accordance with the provisions of the relevant Double Taxation Avoidance Agreement, or
