{"id":532,"date":"2015-11-02T10:12:43","date_gmt":"2015-11-02T10:12:43","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=532"},"modified":"2021-12-15T13:29:15","modified_gmt":"2021-12-15T07:59:15","slug":"corporate-tax-update-for-the-month-of-october-first-week","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-of-october-first-week\/","title":{"rendered":"CORPORATE TAX UPDATE FOR 24th OCTOBER 2015"},"content":{"rendered":"

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CORPORATE TAX \u00a0UPDATE FOR 24th OCTOBER 2015<\/strong><\/span><\/h2>\n

UPDATES<\/span><\/strong><\/span><\/p>\n

1. Excise & Customs : Merely because fraudulent availment of exemption\/bond is of great magnitude and is admitted does not mean that recovery can be made at any time; recovery can be made within 5 years from relevant date and there is no provision to consider ‘date of knowledge of department’ as relevant date\u00a0[2015]Dharampal Lalchand Chug v. Commissioner of Central Excise\u00a0<\/strong><\/span><\/p>\n

2. Dept. must specify default committed by assessee in SCN without which demand is invalid
\nExcise & Customs : Mere passing reference to a section in show-cause notice, without any supporting omissions or commissions by assessee supporting invocation of said section, cannot validate demand under said section\u00a0[2015] \u00a0Commissioner of Central Excise v. Super Spinning Mills Ltd.\u00a0<\/strong><\/span><\/p>\n

3. IT: In terms of section 69A, assessee would be treated in possession of jewellery, from date of opening of locker, i.e., when jewellery was found and seized by revenue, and would be added to his income<\/a> accordingly\u00a0[2015] \u00a0Ajay R. Dhoot v. Deputy Commissioner of Income-tax\u00a0<\/strong><\/span><\/p>\n

4. IT : No reassessment due to TDS <\/a>default on royalty payment if its details were available at assessment stage\u00a0[2015]6 (Calcutta)\u00a0 Debashis Moulik v. ACIT<\/strong><\/span><\/p>\n

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:\u00a0singh@carajput.com<\/a>\u00a0\u00a0or call at 9555555480<\/p>\n","protected":false},"excerpt":{"rendered":"

CORPORATE TAX \u00a0UPDATE FOR 24th OCTOBER 2015 UPDATES 1. Excise & Customs : Merely because fraudulent availment of exemption\/bond is of great magnitude and is admitted does not mean that recovery can be made at any time; recovery can be made within 5 years from relevant date and there is no provision to consider ‘date …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933],"tags":[3507,3675,3676],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/532"}],"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=532"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/532\/revisions"}],"predecessor-version":[{"id":19864,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/532\/revisions\/19864"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}