{"id":2211,"date":"2016-02-22T14:14:11","date_gmt":"2016-02-22T08:44:11","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2211"},"modified":"2021-12-03T14:42:07","modified_gmt":"2021-12-03T09:12:07","slug":"corporate-and-professional-update-february-20-2016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 20, 2016"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d0062c82b83\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d0062c82b83\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#CORPORATE_AND_PROFESSIONAL_UPDATE_FEBRUARY_20_2016\" title=\"CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 20, 2016\">CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 20, 2016<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#Income_Tax_Act\" title=\"Income Tax Act\">Income Tax Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#Service_Tax\" title=\"Service Tax\">Service Tax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#Central_Excise_Act\" title=\"Central Excise Act\">Central Excise Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#Central_Excise_Tariff_Act\" title=\"Central Excise Tariff Act\">Central Excise Tariff Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#Customs_Act\" title=\"Customs Act\">Customs Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#Cst_Vat\" title=\"Cst &amp; Vat\">Cst &amp; Vat<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#Statutes\" title=\"Statutes\">Statutes<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-february-20-2016\/#DIRECT_TAX_LAWS\" title=\"DIRECT TAX LAWS\">DIRECT TAX LAWS<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 style=\"text-align: justify;\"><\/h3>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000080;\"><strong><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/02\/6.png\" rel=\"attachment wp-att-2133\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2133\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/02\/6-300x183.png\" alt=\"6\" width=\"712\" height=\"434\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/02\/6-300x183.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/02\/6-768x468.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/02\/6.png 854w\" sizes=\"(max-width: 712px) 100vw, 712px\" \/><\/a><\/strong><\/span><\/h3>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_FEBRUARY_20_2016\"><\/span><span style=\"color: #000080;\"><strong>CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 20, 2016<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Act\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/implication-of-cash-transaction-under-income-tax-act\/\"><span style=\"color: #0000ff;\"><strong>Income Tax Act<\/strong><\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 9<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>INCOME &#8211; DEEMED TO ACCRUE OR ARISE IN INDIA<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Business income :<\/span>\u00a0<\/strong>Where assessee, engaged in operation and maintenance of <a href=\"https:\/\/carajput.com\/blog\/tag\/international-taxation-provisions\/\">international<\/a> airport, obtained services of non-resident companies for running duty free retail shops, matter was to be remanded back to determine as to whether commission paid to them was taxable in India after applying definition of term &#8216;business connection&#8217; as mentioned under section 9(1)(i) &#8211;\u00a0<em>[2016] 66 137 (Cochin &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Royalties and fees for technical services :<\/span>\u00a0<\/strong>Where assessee made payment to a China based company for designing, drawing, supply and installation of three passenger boarding bridges at Airport, matter was to be remanded back to determine as to whether said payment was taxable in India in terms of &#8216;fee for technical services&#8217; under section 9(1)(vii) as well as article 12(3) of India-China DTAA &#8211;\u00a0<em>[2016] 66 137 (Cochin &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 10A<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>FREE TRADE ZONE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Computation of deduction :<\/span>\u00a0<\/strong>Where Assessing Officer had disallowed assessee&#8217;s claim for deduction under section 10A and Commissioner (Appeals) allowed relief and thereafter Tribunal, on appeal by revenue, following judgment of Tribunal of an identical case confirmed order of Commissioner (Appeals), matter required fresh examination on merits &#8211;\u00a0<em>[2016] 66 152 (Karnataka)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 11<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>CHARITABLE OR RELIGIOUS TRUST &#8211; EXEMPTION OF PROPERTY HELD UNDER INCOME FROM<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Sub-section (2) :<\/span>\u00a0<\/strong>Where assessee-trust spent 85 per cent of its income for construction of building to be used for educational purpose, mere fact that it advanced certain amount to its sister concern out of surplus accumulated which remained at its disposal, there was no violation of provisions of section 11(2) and, thus, assessee&#8217;s claim for exemption of income was to be allowed &#8211;\u00a0<em>[2016] 66 127 (Pune &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 15<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>SALARIES &#8211; CHARGEABLE AS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #800000;\"><strong>Conditions precedent :\u00a0<\/strong><\/span>Where assessee was engaged as a contractor on contractual basis by one &#8216;S&#8217; and he disclosed receipts from &#8216;S&#8217; as income from business or profession, whereas lower authorities treated said receipts as income from salary, matter required to be remanded to Tribunal to decide same afresh &#8211;\u00a0<em>[2016] 66 123 (Punjab &amp; Haryana)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 92C<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>TRANSFER PRICING &#8211; COMPUTATION OF ARM&#8217;S LENGTH PRICE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Comparables and adjustments\/Adjustments \u2013 Interest :<\/span>\u00a0<\/strong>Where TPO made addition to assessee&#8217;s ALP in respect of loan advanced to its AE, in view of fact that assessee had advanced said loan at 247 basis points above LIBOR whereas Indian banks were charging 250 basis points above LIBOR on similar loans, impugned addition was to be set aside &#8211;\u00a0<em>[2016] 66 120 (Delhi &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Comparables and adjustments\/Comparables \u2013 Illustrations :<\/span>\u00a0<\/strong>In case of assessee, engaged in rendering software development services to its AE, companies engaged in both activities, i.e., development of own software products as well as providing software development services, could not be accepted as valid comparables while determining ALP &#8211;\u00a0<em>[2016] 66 150 (Hyderabad &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 143<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>ASSESSMENT &#8211; ISSUE OF NOTICE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Requirement of :<\/span>\u00a0<\/strong>Where assessee did not file return under section 139(1); or under section 139(4); or in response to section 148; or in response to section 142(1); Assessing Officer was not required to issue notice under section 143(2) before completing assessment under section 143(3), read with section 147 &#8211;\u00a0<em>[2016] 66 127 (Pune &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 11<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>PENALTY &#8211; FOR CONTRAVENTION OF PROVISIONS OF ACT, RULES, ORDERS AND EXPORT AND IMPORT POLICY<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">By virtue of Nominated Agency Certificate granted to petitioners, they were subject to 100 per cent export condition as stipulated in Circular No. 15, dated 22-7-2013 issued by RBI and thus by diverting 200 kgs of gold into domestice market they had violated RBI guidelines &#8211;\u00a0<em>[2016] 66 153 (Bombay)<\/em><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Service_Tax\"><\/span><span style=\"color: #0000ff;\"><strong>Service Tax<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 86<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>APPEALS &#8211; ORDERS OF &#8211; APPELLATE TRIBUNAL<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Tribunal may pass Final Order in one case and adopt same in other batch of cases; however, practice of clubbing common issues and passing interim order laying down law is incorrect because no law can be laid down in an interim order &#8211;\u00a0<em>[2016] 66 133 (Karnataka)<\/em><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Central_Excise_Act\"><\/span><span style=\"color: #0000ff;\"><strong>Central Excise Act<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 4<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>VALUATION UNDER CENTRAL EXCISE &#8211; TRANSACTION VALUE &#8211; TESTING AND INSPECTION CHARGES<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Where testing of excisable goods is done at request of buyer and testing charges are reimbursed by buyer, such testing charges are not includible in &#8216;excisable value&#8217; as goods are marketable even without such testing \/inspection done on behalf of buyer &#8211;\u00a0<em>[2016] 66 135 (New Delhi &#8211; CESTAT)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION32F<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>SETTLEMENT OF CASES &#8211; PROCEDURE ON RECEIPT OF APPLICATION<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Settlement Commission has all powers as that of a Central Excise Officer; hence, Settlement has power to issue summons and take evidence and may also adjudicate cases involving complex issues of fact and law &#8211;<em>[2016] 66 134 (Bombay)<\/em><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Central_Excise_Tariff_Act\"><\/span><span style=\"color: #0000ff;\"><strong>Central Excise Tariff Act<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>CHAPTER 38<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>CLASSIFICATION OF GOODS &#8211; CHEMICALLY COATED MICRONIZED MINERALS AND RED OXIDE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Where assessee cleared chemically coated micronized minerals and red oxide and claimed that they were classifiable under Chapter 25.05, chemically coated micronized minerals were classifiable under Chapter 3824.90 and red oxide under Chapter 2821.10 &#8211;\u00a0<em>[2016] 66\u00a0 121 (Chennai &#8211; CESTAT)<\/em><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Customs_Act\"><\/span><span style=\"color: #0000ff;\"><strong>Customs Act<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">SECTION 14<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>LEVY OF DUTY &#8211; VALUATION OF GOODS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Ship demurrage charges paid by assessee\/importer on import of goods were not liable to be included in assessable value of goods imported for customs duty purposes &#8211;\u00a0<em>[2016] 66 108 (SC)<\/em><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Cst_Vat\"><\/span><span style=\"color: #0000ff;\"><strong>Cst &amp; Vat<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 5A OF GUJARAT VALUE ADDED TAX ACT, 2003<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>TAX INCIDENCE AND LEVY &#8211; ZERO RATED SALE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Where assessee entered into a works contract with one &#8216;A&#8217; for construction of power project in SEZ and Determining Authority held that, in view of section 5A, assessee was not liable to pay tax on sale of goods to &#8216;A&#8217; in SEZ, but there should be an endorsement of Customs Authority to prove that sale was made to developer of SEZ, and thereafter assessee obtained endorsement of Customs Authority on purchase bills before entry of goods into SEZ, endorsement on purchase bills was sufficient compliance &#8211;\u00a0<em>[2016] 66 151 (Gujarat)<\/em><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Statutes\"><\/span><span style=\"color: #0000ff;\"><strong>Statutes<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"DIRECT_TAX_LAWS\"><\/span><span style=\"color: #ff6600;\"><strong>DIRECT TAX LAWS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: justify;\">Section 80-1A of the Income-tax Act, 1961 \u2013 Deductions \u2013 Profits and gains from Infrastructure Undertakings \u2013 Clarification of Term &#8216;Initial Assessment Year&#8217; in section 80-1a(5) &#8211;\u00a0<em>CIRCULAR NO.1\/2016 [F.NO.200\/31\/2015-ITA-I], DATED 15-2-2016<\/em><\/p>\n<p style=\"text-align: justify;\">The Section 133 of The Income-tax Act, 1961 \u2013 Income-tax Authorit<em>i<\/em>es \u2013 Power To Call For Information \u2013 Uidelineson procedure to be followed for seeking information from Financial Intelligence Unit-India (Fiu-Ind) and confidentiality to be maintained in handling such information &#8211;\u00a0<em>LETTER F.NO.1(153)\/DIT(R)\/I.T. DEMAND CATE.\/2015-16\/170-4, DATED 15-2-2016<\/em><\/p>\n<p style=\"text-align: justify;\">Section 154 of the Income-tax Act, 1961 \u2013 Recitificatgion of mistake \u2013 Apparent from records &#8211; Passing rectification order under section 154 &#8211;\u00a0<em>INSTRUCTION NO.2\/2016 [F.NO.225\/305\/2015-ITA.II], DATED 15-2-2016<\/em><\/p>\n<p style=\"text-align: justify;\">A Section 154 of the Income-tax Act, 1961 \u2013 Rectification of mistake \u2013 Apparent from records &#8211; Following prescribed time-limit in passing order under section 154(8) &#8211; <em>INSTRUCTION NO.1\/2016 [F.NO.225\/305\/2015-ITA.II], DATED 15-2-2016<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>CORPORATE LAWS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd&#8217;s) (First Amendment) Regulations, 2016 \u2013 Amendment in Regulations 12, 13, 15, 16, 28 and substitution of regulation 4 &#8211;\u00a0<em>NOTIFICATION F.NO.IRDAI\/REG\/1\/113\/2016, DATED 28-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\">Amendments to SEBI (Mutual Funds) Regulations, 1996 \u2013 Amendment in Circular NO.CIR\/IMD\/DF\/21\/2012, Dated 13-9-2012; Circular NO. CIR\/IMD\/DF\/24\/2012,Dated 19-11-2012 and CIRCULAR NO.CIR\/I MD\/DF\/05\/2014,Dated 24-3-2014 &#8211;\u00a0<em>CIRCULAR NO.S EBI\/HO\/IMD\/ DF2 \/ CIR\/P\/2016\/35, DATED 15-2-2016<\/em><\/p>\n<p style=\"text-align: justify;\">SEBI (Mutual Funds) (Amendment) Regulations, 2016 \u2013 Amendment in Seventh Schedule &#8211;\u00a0<em>NOTIFICATION NO.SEBI\/LAD-NRO\/GN\/2015-16\/034, DATED 12-2-2016<\/em><\/p>\n<p style=\"text-align: justify;\">Ministry of Finance, Adjudicating Authority under the Prevention of Money-Laundering Act, 2002, Registrar (Group &#8216;A&#8217; Post) Recruitment Rules, 2016 &#8211;\u00a0<em>NOTIFICATION NO. GSR 161(E) [F.NO.A-12018\/10\/2010-SO (E.S. CELL)], DATED 12-2-2016<\/em><\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0<a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0or call at\u00a0011-233 433 33<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 20, 2016 Income Tax Act SECTION 9 INCOME &#8211; DEEMED TO ACCRUE OR ARISE IN INDIA Business income :\u00a0Where assessee, engaged in operation and maintenance of international airport, obtained services of non-resident companies for running duty free retail shops, matter was to be remanded back to determine as to whether &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4,1,11],"tags":[9079,5,333,9038,322,9016],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2211"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=2211"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2211\/revisions"}],"predecessor-version":[{"id":19401,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2211\/revisions\/19401"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}