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In absence of incriminating material found during search concluded assessments cannot be reopened U/s. 153A

May 28, 2017 2541 Views 0 comment Print

A perusal of the common order of the ITAT shows that it first dealt with one common ground raised by the Assessee in all its appeals which concerned the jurisdictional issue of the validity of the invocation of Section 153A of the Act by the Revenue. It was contended that for the AYs 2000- 01 […]

Trust for sole benefit of an individual can claim section 54F deduction

May 28, 2017 7011 Views 0 comment Print

Issue before us is as to whether the assessee trust, which is for the sole benefit of an individual, will be entitled to deduction u/s. 54F or not, when its status is that of A.O.P. As per Section 54F the benefits of this section is available to individual or Hindu undivided family (HUF). Hon’ble jurisdictional […]

TP adjustment in absence of interest cost for delay in realisation of dues not sustainable

May 28, 2017 1044 Views 0 comment Print

1. Research and development services provider could not be compared to a company and Transfer pricing Adjustment are not sustainable. 2. A concern mainly engaged in sale of chemical compounds could not be considered as a right comparable with that of assessee rendering support services in connection with research and development of certain products to an […]

Revised Education / Training Scheme for CA Course w.e.f. 01.07.2017

May 27, 2017 4503 Views 0 comment Print

All concerned are hereby informed that the Revised Scheme of Education and Training for CA course will come into effect from 1st July, 2017. Students who are eligible to register in the CPT/ IIPCC/ Final under the existing scheme, may register on or before 30th June, 2017.

Draft Companies (Registered Valuers and Valuation) Rules, 2017

May 27, 2017 2160 Views 0 comment Print

The draft Companies (Registered Valuers and Valuation) Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments.

Sanitation: keystone of public health

May 27, 2017 987 Views 0 comment Print

Safe water, adequate sanitation and personal hygiene are indispensable for human health and progress. Lack of these can seriously impact psychological and social development of communities. The worst sufferers are women and children.

Uttarakhand Goods And Service Tax Act, 2017

May 26, 2017 2790 Views 0 comment Print

Governor is pleased to order the publication of the following English translation of ‘the Uttarakhand Goods and Services Tax Bill 2017

Amendments to SEBI (Debenture Trustee) Regulations, 1993

May 26, 2017 2406 Views 0 comment Print

The Companies acts, 2013, as well as the SEBI regulations, prescribe the framework pertaining to debenture trustees. This led to several overlaps and ambiguities. Thus with a view toaddress this issue, SEBI formed a task force comprising of SEBI officials and representatives of the debenture trustees to conform the Debenture Trustee Regulations with the Companies Act,2013.

Grant of Registration under DVAT & CST

May 26, 2017 1635 Views 0 comment Print

In case of any deficiency in the requisite documents, submitted by the applicant dealer, the Assessing Authority shall provide an opportunity to the dealer for removal of deficiency thereof.

Reg. Legislative changes relating to Customs proposed in Finance Bill, 2017

May 26, 2017 4611 Views 0 comment Print

Attention of the Importers, Exporters, General Trade, CFSs coming under the jurisdiction of JNCH, Nhava Sheva and all other stakeholders is invited to clarification regarding legislative changes relating to Customs Act, 1962 proposed in the Finance Bill, 2017 issued vide Board Circular No 12/2017-Customs (F.No.450/10/2017-CusIV], dated 31.03.2017.

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