CORPORATE AND PROFESSIONAL UPDATE JULY 15, 2016
Professional Update For the Day: DIRECT TAX: Income Tax : No penalty on firm when it agreed to treat partner’s contribution as its income to buy peace Choupal Plywood v. Income-tax Officer, Ward-3, Yamunanagar [2016] 71 taxmann.com 135 (Chandigarh – Trib.) Income Tax : Non-issuance of SCN prior to rejection of refund would render adjudication order as …