CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 21, 2016 INCOME TAX ACT SECTION 14A EXPENDITURE INCURRED IN RELATION TO INCOME NOT INCLUDIBLE IN TOTAL INCOME Reassessment: Where assessee had disclosed all material facts… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 20, 2016 Income Tax Act SECTION 9 INCOME - DEEMED TO ACCRUE OR ARISE IN INDIA Business income : Where assessee, engaged in operation and maintenance… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 19, 2016 Direct Tax Section 80IB(10) : Deduction allowed on additional business declared post search.[Madhav Corporations vs. ACIT (ITAT Ahmedabad), IT(SS) A Nos. 380 to… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 18, 2016 Income Tax Act SECTION 10A FREE TRADE ZONE Set off of loss : Loss suffered by assessee in an unit entitled for exemption under… Read More
CORPORATE & PROFESSIONAL UPDATE FEBRUARY 17, 2016 SERVICE TAX ON MULTI-LEVEL MARKETING Multi-Level Marketing (MLM) is a marketing strategy in which the distributor is compensated for the sales of the… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 16, 2016 Direct Tax CBDT directs AOs to pass Sec-154 Rectification Orders in writing and serve a copy on the assessee and not just make an… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 15, 2016 INCOME TAX ACT SECTION 2(1A) AGRICULTURAL INCOME Compensation on acquisition of agricultural land : Where Assessing Officer's decision that compensation received by assessee for… Read More
interpretation of reopening of assessment / reassessment INTRODUCTION CBDT by exercising their powers u/s 119 of the Income-tax Act,1961 (Act), with the objective of easing the process of selection… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 14, 2016 INCOME TAX ACT SECTION 10(23FB) VENTURE CAPITAL FUND Claim of exemption : In terms of SEBI (Alternative Investment Funds) Regulation, 2012, 'corpus' means amount… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 13, 2016 STAY OF DEMAND UNDER THE INCOME TAX ACT 1961, PRACTICAL APPROACH, JUDICIAL CASES & DEPARTMENTAL CIRCULARS/INSTRUCTIONS:- It is quite common for the Assessing Officers… Read More