corporate and professional update dated march 21,2016
CORPORATE AND PROFESSIONAL UPDATE DATED MARCH 21,2016 DIRECT TAX Income Tax: Where assessee-NBFC provided security in form of cash collateral for loans purchased by purchaser-bank but did not book said amount as its income, levy of concealment penalty was justified – [2016] 67 163 (Chennai – Trib.) Income Tax: Where assessee received gifts from two persons …