Corporate and professional updates february 11, 2016
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 11, 2016 DIRECT TAX: Reassessment u/s 147 not permissible merely on change of opinion –ITAT. [ACIT vs. Reliance Industrial infrastructure Ltd.(ITAT Mumbai) I.T.A. No.5872/M/2012]. Penalty under Customs can be imposed simultaneously on firm and its partners: Larger bench of HC[2016] 66 taxmann.com 49 (Bombay) Amritlakshmi Machine Works v. Commissioner of Customs (import) …