Trade is hereby informed that whenever application for issue or modification of IEC is to be filed now, it has to be done only through an online process with digital signature and the filing is done to DGFT, New Delhi. Only after successful filing of the application it gets downloaded to Pune-JDGFT.
The Committee intends to develop the content of the Study/Background Material for the aforesaid courses (detailed modules are available at the above mentioned links) and is presently looking for experts having experience in the relevant areas for the following activities:
The Government of India, vide Notification No. G.S.R. 180(E), dated 17th February, 2016 defined ‘startup’ under Startup India initiative, and has declared that a certificate of eligibility shall be required by such ‘startup’ for availing tax benefits under the Income Tax Act, 1961.
Assessee had not invested in Capital Gain Account Scheme before the due date under section 139(1) but complied with the conditions under section 54F(1). The provisions of section 54F are beneficial provisions and are to be considered liberally on the aspect of limitation period. However the investment in residential property is a must which the assessee had complied with evidence.
It has been brought to notice that Customs officers are insisting on registration documents from importers on products which do not fall under the purview of the Legal Metrology Act, 2009 and rules made thereunder. Insistence on such documents has been reported to cause undue delay in the clearance of such consignments.
A Committee was constituted by the Board, vide OM of even number dated 22nd January 2016, under the chairmanship of Shri Avadhesh Kumar Mishra, CIT (TDS)-2, Delhi to recommend standard definitions of certain commonly used terms relating to direct tax administration, such as“taxpayer, tax – base, new assessee/taxpayer, stop-filer/non-filer etc.
Bombay High Court held that as per agreement, the deferred consideration is payable over a period of four years and the formula prescribed in the agreement itself makes it clear that the deferred consideration to be received by the assessee in the four years would be dependent upon the profits made by M/s. Unisol in each of the years.
ITAT Mumbai held In the case of M/s. Rachana Finance & Investments Pvt. Ltd. & M/s. Repute Properties Pvt. Ltd. vs. CIT that in the present case, the order of AO may be brief but that by itself is not a sufficient reason to hold the order of assessment as erroneous and prejudicial to the interest of the revenue.
It is held that Completed assessments can be interfered with by the AO while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment.
Some of the important provisions are: (i) Completion of investigation and filing of charge sheet in the court within sixty days. (ii) Provision of relief for offences of rape and gang rape (This provision has been introduced for the first time.) (iii) Delinking requirement of medical examination for getting relief amount for non-invasive kind of offences against women like sexual harassment, gestures or acts intended to insult the modesty of women, assault or use of criminal force with intent todisrobe, voyeurism, stalking.
