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Order u/s 153C passed without JCIT approval u/s 153D is void

February 15, 2017 2250 Views 0 comment Print

These are the appeals filed by the assessee against the order of CIT(A), Mumbai, for the assessment years 2002-03 to 2007-08, in the matter of order passed u/s.143(3) r.w.s. 153C of I.T.Act.

Losses due to Fraud of employees allowable despite no FIR

February 15, 2017 19668 Views 0 comment Print

It is an admitted position that theft/ fraud had indeed taken place in the assessee company and the AO had nowhere doubted the fact of fraud but he disallowed the claim of the assessee for the reason that the assessee could not establish the fact of fraud like non- production of copy of FIR and not taking any legal action against the employee who was involved in this activity of fraud.

Non release of assessee’s seized jewellery / stridhan despite unsustained addition is deliberate harassment

February 15, 2017 2277 Views 0 comment Print

The writ petitioner in these proceedings under Article 226 of the Constitution is aggrieved by the refusal – by the respondents i.e. the income tax authorities -to release the jewellery – approximately 319. 98 g, seized by them in the course of search proceedings under Section 132 of the Income Tax Act, 1961 (hereafter the Act).

No section 40A(3) disallowance on cash refund of excess money received on sale of goods

February 15, 2017 8829 Views 0 comment Print

This is an appeal filed by the Revenue against the order of Ld. CIT(A)-II, Jaipur dated 3.12.2013 for A.Y 2009-10 wherein the Revenue has taken following grounds of appeal

Govt mandates Aadhaar for beneficiaries of certain Schemes

February 15, 2017 1629 Views 0 comment Print

Individuals (eligible beneficiaries or service enablers) desirous of availing benefits under the schemes specified in the Table above are hereby required to furnish proof of possession of Aadhaar or undergo Aadhaar authentication.

Govt establishes Debts Recovery Tribunal at Dehradun

February 15, 2017 7026 Views 0 comment Print

Central Government hereby establish the Debts Recovery Tribunal at Dehradun with effect from the 16th day of February, 2017 and hereby specifies the area of jurisdiction of the Debts Recovery Tribunals at Allahabad, Lucknow and Dehradun in the States of Uttar Pradesh and Uttarakhand,

SEBI (Depositories and Participants) (Amendment) Regulations, 2017

February 15, 2017 1149 Views 0 comment Print

These Regulations may be called the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2017. They shall come into force on the date of their publication inOfficial Gazette.

Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2017

February 15, 2017 684 Views 0 comment Print

1. These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2017. 2. They shall come into force on the date of their publication in the Official Gazette.

SEBI (Mutual Funds) (Amendment) Regulations, 2017

February 15, 2017 2595 Views 0 comment Print

These Regulations may be called the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2017. They shall come into force on the date of their publication in the Official Gazette.

Notification No. 11/2017-Custom (N.T.), Dated: 15.02.2017

February 15, 2017 3447 Views 0 comment Print

Notification No. 11/2017-CUSTOMS (N.T.) -Tariff value Notification in respect of Fixation of tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

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