"25 July 2017" Archive - Page 2

Deduction u/s. 54EC allowable on Actual sale Consideration, not on value determined U/s. 50C

Sri Nikhilesh Sadhukhan Vs Income Tax Officer (ITAT Kolkata)

In the instant case the impugned property was sold at a value lesser than the value adopted for the purpose of stamp duty. Therefore the valuation determined for the purpose of stamp valuation is taken as sale consideration. However, such deeming provision cannot be applied to the provision of law as specified Section 54EC of […]...

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Period of exclusion regarding direction U/s. 142(2A) commences from the day on which AO gave a direction

CIT Vs Amar Nath Arora (Rajasthan High Court)

(i) Whether the findings of the Tribunal are perverse in holding that for the purpose of limitation under section 158BE, the period is to be counted from the date on which the direction under section 142(2A) is served on the assessee and not from the date of issuance of direction by the assessing officer under section 142(2A) ?...

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ROC West Bengal issues notice to 75 LLP for striking off name

Public Notice No./ROCWB/LLP/S-75/Public/1 25/07/2017

Registrar has reasonable cause to believe that the Limited Liability Partnership (LLPs), as per Annexure, are not carrying on any business or operation for a period of two years or more as the LLPs have not filed any financial statements for the last two financial years....

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Amendment in Jurisdiction under Black Money Law

Notification No. 72/2017-Income Tax [S.O. 2321(E)] 25/07/2017

Central Board of Direct Taxes hereby makes the following amendment in the notification of Central Board of Direct Taxes, number S.O. 1590(E), dated the 16th May, 2017...

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Amendment in Authority under Prohibition of Benami Property Law

Notification No. 71/2017 Income Tax [S.O. 2320 (E)] 25/07/2017

S.O. 2320 (E).—In exercise of the powers conferred under sub-section (2) of section 28 read with section 59 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988) the Central Government hereby makes the following amendment in the notification of the Government of Indi...

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7 Secrets of Investing the Warren Buffett way

Human beings always have a natural tendency to follow the crowd, but when it comes to share market investing, following the crowd can more often result in ending up with losses. Why do you copy the mediocrity of the masses when you can replicate the success of the World’s Greatest Investor?...

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Posted Under: Income Tax |

MCA constitutes 2 two Committee to review 10 year old and above cases

No. 16/37/2017 -Legal 25/07/2017

Constitution of two Review Committee (s) for reviewing the 10 year old and above cases of different regions and in office of SFIO for withdrawal of prosecution. The Committees would review and recommend the details of cases in which prosecutions are required to be withdrawn including the reports submitted by the Regional Director (s)...

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Sharing of information in respect of public servants

F.No. DGIT (V)/Misc/2017-18/2466 25/07/2017

During the course of investigation/enquiries /search & seizure operations etc. conducted by the Investigation Wing of the Department, a lot of information is gathered. Further, after demonetization , substantial data regarding cash deposits in bank accounts is available, which is being analyzed by your teams....

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Extending SWIFT in Exports with WCCB to all EDI locations- reg.

Circular No. 31/2017-Customs 25/07/2017

It has now been decided to extend online referral of WCCB to all Customs EDI locations with effect from 31st July, 2017. The mapping of Customs EDI locations to WCCB offices shall remain the same as it was for imports. ...

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Income Tax Department celebrates Aaykar Diwas 2017

The Aaykar Diwas – Income Tax Day was celebrated today across India. The main function at Vigyan Bhavan, New Delhi was graced by the Honourable Finance Minister of India, Shri Arun Jaitley. Shri Santosh Kumar Gangwar, the Minister of State for Finance (Revenue), senior officials of Revenue Department including the Revenue Secretary, Cha...

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Posted Under: Income Tax |

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