"28 December 2016" Archive

Role and Responsibility of CIT (Admn. & TPS)-reg.

F.No. HRD/CM/102/28/2013-14/8145 28/12/2016

It has come to the notice of CBDT that in some Regions role of CIT (Admn. & TPS) is restricted by the Pr. CCIT (CCA) and they are not made part of various administrative functions in headquarter of Pr. CCIT (CCA), especially functions related to transfer and posting, vigilance etc. ...

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Deduction cannot be allowed merely because notice were not issued to bogus creditors

Commissioner of Income Tax & Anr. Vs Karnataka Planters Coffee Curing Works (P) Ltd. (Supreme Court of India)

In the case of Commissioner of Income Tax Vs. Karnataka Planters Coffee Curing Works (P) Ltd. assessee had shown sudden increase in creditors without any matching purchase transactions. ...

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President assents Rights of Persons With Disabilities Act, 2016

NO. 49 OF 2016 28/12/2016

Rights of Persons With Disabilities Act, 2016 received the assent of the President on the 27th December, 2016, and is hereby published for general information...

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Govt passes law by which it can mandate payment of wages by Cheque or by credit to Bank account

No.9 OF 2016 28/12/2016

Government may,specify industrial or other establishment, which shall pay wages only by cheque or by crediting wages in bank account of employee....

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Fast Track Merger – A Novel Concepts

Merger is a restructuring tool available to Indian conglomerates aiming to expand and diversify their businesses for various reasons whether it is to gain competitive advantage, reduce costs or unlock values. ...

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Posted Under: Income Tax |

Transitional Provisions under Revised Model GST Law-Part-IV

170. Credit of eligible duties and taxes in respect of inputs held in stock to be allowed in certain situations. This is a new provision added in the act aiming to cover such assessees who are engaged in manufacture of both taxable and exempted goods or are providing both taxable and exempted services...

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Posted Under: Income Tax |

Company with extraordinary events cannot be considered as comparable

Cummins Turbo Technologies Ltd. Vs DCIT (ITAT Pune)

ITAT held that on account of extra ordinary events viz. acquisition of IQ group of companies and amalgamation of Accentia Infoserve Pvt. Ltd with Accentia Technologies Ltd, the said company cannot be considered as good comparable. ...

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Fresh guidelines on Sexual Harassment of Women at Workplace

Fresh guidelines on Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 issued by DoPT...

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Posted Under: Income Tax |

Charity Commissioner, Maharashtra State Special Drive 2017

Charity Commissioner, Maharashtra State Special Drive 2017- For Filing of Audited Accounts and Change Reports under Bombay Public Trusts Act, 1950...

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Posted Under: Income Tax |

Inclusion of Show Cause Notice in Call Book -reg

F. No. 276/104/2016-CX.8A (Pt.) 28/12/2016

Inclusion of Show Cause Notice issued in relation to sub-section (11) of Section 28 of the Customs Act, 1962 on the competency of officers of DGDRI, DGCEI and Customs (Prev.) in the Call Book; Issuing Clarifications-reg....

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