{"id":538,"date":"2015-11-02T10:23:22","date_gmt":"2015-11-02T10:23:22","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=538"},"modified":"2021-12-15T12:33:39","modified_gmt":"2021-12-15T07:03:39","slug":"professional-update-for-the-month-of-october","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/professional-update-for-the-month-of-october\/","title":{"rendered":"Corporate &#038; Professional Updates for 27 Oct 2015"},"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-69d2931b4a211\" 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-69d2931b4a211\"  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\/professional-update-for-the-month-of-october\/#PROFESSIONAL_UPDATE_FOR_27th_OCTOBER_2015\" title=\"PROFESSIONAL UPDATE FOR 27th OCTOBER 2015\">PROFESSIONAL UPDATE FOR 27th OCTOBER 2015<\/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\/professional-update-for-the-month-of-october\/#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\/professional-update-for-the-month-of-october\/#SCIENTIFIC_RESEARCH_EXPENDITURE\" title=\"SCIENTIFIC RESEARCH EXPENDITURE\">SCIENTIFIC RESEARCH EXPENDITURE<\/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\/professional-update-for-the-month-of-october\/#BUSINESS_DISALLOWANCE_%E2%80%93_INTEREST_ETC_PAID_TO_A_RESIDENT_WITHOUT_DEDUCTION_OF_TAX_AT_SOURCE\" title=\"BUSINESS DISALLOWANCE &#8211; INTEREST, ETC., PAID TO A RESIDENT WITHOUT DEDUCTION OF TAX AT SOURCE\">BUSINESS DISALLOWANCE &#8211; INTEREST, ETC., PAID TO A RESIDENT WITHOUT DEDUCTION OF TAX AT SOURCE<\/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\/professional-update-for-the-month-of-october\/#TRANSFER_PRICING_%E2%80%93_COMPUTATION_OF_ARMS_LENGTH_PRICE\" title=\"TRANSFER PRICING &#8211; COMPUTATION OF ARM&#8217;S LENGTH PRICE\">TRANSFER PRICING &#8211; COMPUTATION OF ARM&#8217;S LENGTH PRICE<\/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\/professional-update-for-the-month-of-october\/#MINIMUM_ALTERNATE_TAX\" title=\"MINIMUM ALTERNATE TAX\">MINIMUM ALTERNATE TAX<\/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\/professional-update-for-the-month-of-october\/#METHOD_OF_ACCOUNTING_%E2%80%93_ESTIMATION_OF_INCOMEADDITIONS_TO_INCOME\" title=\"METHOD OF ACCOUNTING &#8211; ESTIMATION OF INCOME\/ADDITIONS TO INCOME\">METHOD OF ACCOUNTING &#8211; ESTIMATION OF INCOME\/ADDITIONS TO INCOME<\/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\/professional-update-for-the-month-of-october\/#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\/professional-update-for-the-month-of-october\/#DIRECT_TAX_LAWS\" title=\"DIRECT TAX LAWS\">DIRECT TAX LAWS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/professional-update-for-the-month-of-october\/#CORPORATE_LAWS\" title=\"CORPORATE LAWS\">CORPORATE LAWS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/professional-update-for-the-month-of-october\/#More_updates_INCOME_TAX_UPDATE_18_NOVEMBER_2015\" title=\"More updates: INCOME TAX UPDATE 18 NOVEMBER 2015\">More updates: INCOME TAX UPDATE 18 NOVEMBER 2015<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/professional-update-for-the-month-of-october\/#More_updates_INCOME_TAX_UPDATE_14_NOVEMBER_2015\" title=\"More updates:INCOME TAX UPDATE 14 NOVEMBER, 2015\">More updates:INCOME TAX UPDATE 14 NOVEMBER, 2015<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><\/h2>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled3.png\" rel=\"attachment wp-att-1712\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1712\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled3-300x146.png\" alt=\"Untitled3\" width=\"749\" height=\"365\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled3-300x146.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled3.png 606w\" sizes=\"(max-width: 749px) 100vw, 749px\" \/><\/a><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"PROFESSIONAL_UPDATE_FOR_27th_OCTOBER_2015\"><\/span><span style=\"color: #000080;\"><strong>PROFESSIONAL UPDATE FOR 27th OCTOBER 2015<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><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\/\"><strong>INCOME TAX ACT<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 5<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>INCOME &#8211; ACCRUAL OF<\/strong><\/p>\n<p style=\"text-align: justify;\">Interim award : Interim award received by assessee pursuant to order of High Court is not liable to tax in year of receipt but in year when final award is passed by High Court &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 174 (Karnataka)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 35<\/strong><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SCIENTIFIC_RESEARCH_EXPENDITURE\"><\/span><strong>SCIENTIFIC RESEARCH EXPENDITURE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Sub-section (2AB) : In case of allowance of weighted <a href=\"https:\/\/carajput.com\/blog\/all-about-tan\/amp\/\">deduction<\/a>, provision of section 35(2AB) nowhere suggests or implies that machinery is required to be installed and commissioned before expiry of relevant previous year &#8211;<span style=\"color: #ff9900;\"><strong>[2015] 124 (Karnataka)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 40(a)(ia)<\/strong><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"BUSINESS_DISALLOWANCE_%E2%80%93_INTEREST_ETC_PAID_TO_A_RESIDENT_WITHOUT_DEDUCTION_OF_TAX_AT_SOURCE\"><\/span><strong>BUSINESS DISALLOWANCE &#8211; INTEREST, ETC., PAID TO A RESIDENT WITHOUT DEDUCTION OF TAX AT SOURCE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">When to deposit tax : Provisions of section 40(a)(ia) would not be applicable where assessee paid architect&#8217;s fee before end of accounting year &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 169 (Chennai &#8211; Trib.)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 92C<\/strong><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"TRANSFER_PRICING_%E2%80%93_COMPUTATION_OF_ARMS_LENGTH_PRICE\"><\/span><strong>TRANSFER PRICING &#8211; COMPUTATION OF ARM&#8217;S LENGTH PRICE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Comparables and adjustments\/Adjustments \u2013 Others : Where assessee had entered into a long-term contract with its AE for procuring copper concentrates for life time of mines, price paid to its AE should be compared with comparable having similar features &#8211;<span style=\"color: #ff9900;\"><strong> [2015] 181 (Mumbai &#8211; Trib.)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Comparables and adjustments &#8211; Adjustments\/Corporate guarantee fee : Rate of 0.50 per cent charged by assessee for giving corporate guarantee to its AE was appropriate &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 62 181 (Mumbai &#8211; Trib.)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">In Comparables and adjustments\/Comparables \u2013 Illustrations : A manufacturer of tractor cannot be considered as comparable with manufacturer of harvester combine, simply because both machines fall in overall category of &#8216;Agricultural equipments&#8217; &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 173 (Delhi &#8211; Trib.)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Comparables and adjustments\/Adjustments &#8211; Capacity adjustment : Under TNMM, first step in granting capacity utilization adjustment is to ascertain percentage of capacity utilization by assessee and comparables and then to give effect (positive or negative) to differences in percentage of capacity utilization of assessee vis-\u00e0-vis comparables, one by one, in operating profit of comparables by adjusting their respective operating costs &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 173 (Delhi &#8211; Trib.)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 115JA<\/strong><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"MINIMUM_ALTERNATE_TAX\"><\/span><strong>MINIMUM ALTERNATE TAX<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Computation of book profits : &#8216;Lease equalization charges&#8217; is not in nature of a reserve and, therefore, same cannot be added back while computing book profits as per Explanation under section 115JA(2) &#8211;<span style=\"color: #ff9900;\"><strong> [2015] 128 (Karnataka)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Reassessment : Where information regarding assessee&#8217;s claim of enhanced depreciation in view of re-estimation of written down value of its assets over remaining useful life was with Assessing Officer at time of passing assessment order, reopening of assessment beyond four years from relevant assessment year on ground that claim of additional depreciation had reduced book profit under section 115JB was without jurisdiction &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 129 (Bombay)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 145<\/strong><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"METHOD_OF_ACCOUNTING_%E2%80%93_ESTIMATION_OF_INCOMEADDITIONS_TO_INCOME\"><\/span><strong>METHOD OF ACCOUNTING &#8211; ESTIMATION OF INCOME\/ADDITIONS TO INCOME<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Revision : Where issues in respect of set off of unabsorbed losses fall in gross profit rate and depreciation had been examined by Assessing Officer in detail at assessment stage, jurisdiction under section 263 would not be invoked &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 69 (Chandigarh &#8211; Trib.)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 194C<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>DEDUCTION OF TAX AT SOURCE &#8211; CONTRACTORS\/SUB-CONTRACTORS, PAYMENTS TO<\/strong><\/p>\n<p style=\"text-align: justify;\">Freight : Where assessee could not adduce any evidence that C &amp; F agent deducted tax at source while making payment to carrier so as to prove that amount which was paid by assessee to C &amp; F agent represented reimbursement of freight paid by C &amp; F agent on behalf of assessee to airlines, provisions of section 194C were applicable &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 168 (Panaji &#8211; Trib.)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>COMPANIES ACT<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 397<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>OPPRESSION AND MISMANAGEMENT<\/strong><\/p>\n<p style=\"text-align: justify;\">Where petitioners exited from company fifteen years back, \ufb01ling petition by invoking jurisdiction of Bench under section 397\/398, by alleging purported acts of oppression and mismanagement appeared to be a mala fide intention and was an abuse of process of law &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 55 (CLB &#8211; Chennai)<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>NEGOTIABLE INSTRUMENTS ACT<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 138<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>DISHONOUR OF CHEQUE FOR INSUFFICIENCY ETC. OF FUNDS IN ACCOUNT<\/strong><\/p>\n<p style=\"text-align: justify;\">Where in a complaint under section 138 evidence had already been concluded before trial Court and there was specific averment in complaint that on representation of petitioner and other co-accused MOU was signed, mere fact that cheque issued by accused and MOU signed by accused did not bear signature of petitioner made out no case for quashing of complaint and summoning order against petitioner &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 176 (Punjab &amp; Haryana)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>CENTRAL EXCISE ACT<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 37B<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>CIRCULARS\/INSTRUCTIONS TO DEPARTMENTAL OFFICERS<\/strong><\/p>\n<p style=\"text-align: justify;\">Where Tribunal had merely followed its earlier judgment, which was approved by Supreme Court and accepted by CBEC Circular of 2001, filing of appeal by revenue against said Tribunal order in year 2006 was a total mindless exercise and abuse of process of law; hence, appeal was dismissed &#8211; <span style=\"color: #ff9900;\"><strong>[2015] 156 (SC)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>CENTRAL EXCISE TARIFF ACT<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 2<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>CLASSIFICATION &#8211; CALCINED CHINA CLAY<\/strong><\/p>\n<p style=\"text-align: justify;\">Calcined China Clay, which is also known as Kaolin Clay, is classifiable under Heading 2505.10 &#8216;Kaolin clays, whether or not calcined&#8217; and not under heading 3824.90 &#8220;Other products of chemical or allied industries&#8221; &#8211; [2015] 157 (SC)<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"STATUTES\"><\/span><span style=\"color: #3366ff;\"><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: #3366ff;\"><strong>DIRECT TAX LAWS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: justify;\">Income-tax (Seventeenth Amendment) Rules, 2015 \u2013 Amendment in Rule 2F &#8211; <span style=\"color: #ff9900;\"><strong>NOTIFICATION NO.84\/2015 [F.NO.133\/43\/2015-TPL], DATED 20-10-2015<\/strong><\/span><\/p>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_LAWS\"><\/span><span style=\"color: #3366ff;\"><strong>CORPORATE LAWS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: justify;\">Risk Management for Regional Commodity Derivatives Exchanges &#8211; <span style=\"color: #ff9900;\"><strong>CIRCULAR NO.CDMRD\/DRMP\/2\/2015, DATED 21-10-2015<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Annual Return on Foreign Liabilities and Assets (FLA Return) \u2013 Reporting by Limited Liability Partnerships &#8211; <strong><span style=\"color: #ff9900;\">A.P. (DIR SERIES 2015-16) CIRCULAR NO.22, DATED 21-10-2015<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">Gold Monetization Scheme, 2015 <span style=\"color: #ff9900;\">&#8211; <strong>MASTER DIRECTION DBR.IBD.No.45\/23.67.003\/2015-16, DATED 22-10-2015<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Mines and Minerals (Contribution to District Mineral Foundation) Rules, 2015 &#8211; <span style=\"color: #ff9900;\"><strong>NOTIFICATION NO. GSR 792(E) [F.NO.11033\/3\/2015-CA-II], DATED 20-10-2015<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>INDIRECT TAX LAWS (ST.\/EX.\/CUS. &amp;(CST &amp; VAT)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Section 66B of the Finance Act, 1994 &#8211; Charge of service tax on or after Finance Act, 2012 &#8211; Mega Exemption Notifications \u2013 Amendment in Notification No.25\/2012-STs, Dated 20-6-2012 &#8211; <span style=\"color: #ff9900;\"><strong>NOTIFICATION NO.20\/2015-ST, DATED 21-10-2015<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Submission of information online in Form DP-1 \u2013<strong> <span style=\"color: #ff9900;\">Amendment in notification No.F.3(352)\/Policy\/VAT\/2013\/818-829, dated 30-9-2015 &#8211; NOTIFICATION NO.F.3(352)POLICY\/VAT\/2013\/929-40, DATED 21-10-2015<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">Hope the information will assist you in your Professional endeavors. For query or help, contact: singh@carajput.com\u00a0 or call at 9555555480<\/p>\n<h4><span class=\"ez-toc-section\" id=\"More_updates_INCOME_TAX_UPDATE_18_NOVEMBER_2015\"><\/span><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/income-tax-act-3\/\">More updates: INCOME TAX UPDATE 18 NOVEMBER 2015<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"More_updates_INCOME_TAX_UPDATE_14_NOVEMBER_2015\"><\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/income-tax-act\/\">More updates:INCOME TAX UPDATE 14 NOVEMBER, 2015<\/a><\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>PROFESSIONAL UPDATE FOR 27th OCTOBER 2015 INCOME TAX ACT SECTION 5 INCOME &#8211; ACCRUAL OF Interim award : Interim award received by assessee pursuant to order of High Court is not liable to tax in year of receipt but in year when final award is passed by High Court &#8211; [2015] 174 (Karnataka) SECTION 35 &hellip;<\/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":[3665,3663,3659,3664,3661,3662,3660],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/538"}],"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=538"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/538\/revisions"}],"predecessor-version":[{"id":19858,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/538\/revisions\/19858"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}