JUST BRING IT

Professional updates Limitation u/s 275 of the Income Tax Act is applicable to imposition of penalty u/s 271E of the Income Tax Act, 1961. [CIT vs. JKD Capital and Finlease Ltd., High Court of Delhi] The Commissioner Delhi VAT has agreed and  assured to extend the date for filing of DP-1, UP TO 31.12.2015. SACD refund is admissible, even if appropriate Sales Tax/VAT was less than SACD or Nil. Customs Notification 102/97 Dated 14.09.2007 RBI has notified the directions relating to prior approval for acquisition of shares or voting rights in Private Sector Banks, which shall be called the Reserve Bank of India (Prior approval for acquisition of shares or voting rights in private sector banks) Directions,2015 Council of ICAI has taken decision as advice received from the Income Tax Department to collect the PAN card details of the members and firm of CA Indian Overseas Bank invites applications from practicing CA firms for Stock Audit of their branches. Government had propo

Professional updates @TEAMBRINGIT Assessment not valid if AO fails to issue notice under section 143(2) after return filing by way of letter by assessee. [Meenakshi Aggarwal vs. ITO] (ITAT Delhi) ITAT. Deduction under section 80ib(10) cannot be denied even if area of housing project is less than 1 acre or for non ownership of land. [Bhujbal Brothers Construction Company vs. DCIT] (ITAT Pune). Government notifies accounting code for payment of Swachh Bharat Cess. Circular No. 188/7/2015-ST, dated 16-11-2015. CBEC has issued guidelines for speedy disbursal of pending refund claims to exporters of services. Amendment in duty drawback rates and procedure for export under claim for brand rate. vide Notification No. 110/2015-Customs (N.T.), dated 16.11.2015. SEBI to streamline the process of public issue of equity shares and convertibles, it has been decided to reduce the time taken for listing after the closure of issue to 6 working days as against the present 12 working days. To