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Hoarding rent-Income from house property or income from other sources?

September 22, 2017 13227 Views 0 comment Print

This appeal, filed by the assessee, is directed against the order dated 5-12-2011, passed by the learned Commissioner (Appeals), in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment year 2008-09.

New rules for Shifting of Registered Office from one state to another

September 21, 2017 25290 Views 2 comments Print

To consider the proposal for shifting of registered office. Fix up the date, time, and place of the General Meeting. Approve the notice of Extraordinary General Meeting and calling of General Meeting. Authorize the CS or Director to move an application before RD to alter Clause II of Memorandum of Association within whose jurisdiction the registered office of the company (before change) is situated.

Every Majority Decision is Not ‘Cartelisation’: Delhi HC in Reliance Jio Vs. Others

September 21, 2017 1788 Views 0 comment Print

Bombay High Court quashed and set aside an order of the Competition Commission of India (CCI) which directed a probe into the ‘cartelisation’ charge leveled against Vodafone India, Idea Cellular and Bharti Airtel Limited, by Reliance Jio.

Advisory Notes to claim credit in TRAN 1

September 21, 2017 26838 Views 12 comments Print

It has been observed that taxpayers are facing problem in claiming transitional credit in respect of existing registration(s) under earlier law(s) of Central Excise, Service Tax and VAT. When these registrations are mentioned in the TRAN 1 form in different tables, and transitional credit is claimed against them, the tax payers get the message of processed with error when they save such details.

Ad hoc disallowance without rejection of books of account is not sustainable

September 21, 2017 4242 Views 0 comment Print

This is an appeal filed by the assessee against the order of Ld. CIT(A)-6, Kolkata dated 13.01.2017 for AY 2011-12. The first issue raised by the assessee is against the action of the Ld. CIT(A) in confirming the addition of Rs.10,747/- which was made by the AO as donation and subscription account.

SEBI: Integration of broking activities in Equity & Commodity Derivatives Markets under single entity

September 21, 2017 1197 Views 0 comment Print

Please find enclosed Government of India Gazette notification no. G.S.R. 664(E) dated June 27, 2017 amending the Securities Contracts (Regulation) Rules, 1957 (hereinafter referred to as SCRR) and Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations 2017 notified on July 13, 2017 (hereinafter referred to as the Stock Broker Regulation).

Relaxation under Sub-rule (7) of Rule 19 of SCR Rules, 1957

September 21, 2017 4722 Views 0 comment Print

In order to align the requirements specified for listing under schemes of arrangement under Clause III (A)(1)(b) of Annexure I of the Circular with those specified under Rule 19(2)(b) of SCRR, it has been decided to amend Clause III (A)(1)(b) of Annexure I of Circular No. CFD/DIL3/CIR/2017/21 dated March 10, 2017 as under:

Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items, 2012

September 21, 2017 1794 Views 0 comment Print

S.O.(E) In exercise of the powers conferred by Section 5 and Section 14A of the Foreign Trade (Development and Regulation) Act, 1992, as amended, read with Para 1.02 of the Foreign Trade Policy 2015-2020, the Central Government hereby makes the following amendment

Customs and Central Excise Duties Drawback Rules, 2017

September 21, 2017 95376 Views 2 comments Print

Short title, extent and commencement.- (1) These rules may be called the Customs and Central Excise Duties Drawback Rules, 2017. (2) They extend to the whole of India. (3) They shall come into force on the 1st day of October, 2017.

Amendment to Paragraph 2.72 (b) of Handbook of Procedures of FTP 2015-20

September 21, 2017 1824 Views 0 comment Print

If the exporter has been notified in writing by DGFT or he knows or has reason to believe that an item not covered in the SCOMET list has a potential risk of use in or diversion to weapons of mass destruction (WMD) or in missile system or military use (including by terrorists and non-state actors), he shall apply for a SCOMET license

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