Daily Archives: November 9, 2015

Govt Proposes to Increase India’s Share in International Tourist arrival from 0.68 % to 1.00 %

By | November 9, 2015

Ministry of Culture of Govt of India on 09-November, 2015 Government Proposes to Increase India’s Share in International Tourist arrival from 0.68 % to 1.00 % by 2016-17, says Dr. Mahesh Sharma Parliamentary Consultative Committee of Ministry of Tourism and Culture Meets Dr. Mahesh Sharma, the Minister of State (I/C) for Tourism and Culture has… Read More »

NHAI Releases National Highways Construction Cost Index (NHCCI)

By | November 9, 2015

Ministry of Road Transport & Highways of Govt of India on 09-November, 2015 National Highways Authority of India (NHAI) has released National Highways Construction Cost Index (NHCCI) up to September 2015. This has been compiled based on information received from the source agencies viz. concessionaire / contractors. The index has been uploaded on NHAI website… Read More »

Software Technology Parks of India qualify to be called Existing Special Economic Units under SEZ act

By | November 9, 2015

A perusal of the definition of “Unit” under the SEZ Act includes an existing unit. “Existing SEZ unit” has been defined as every Special Economic Zone which is in existence on or before the commencement of this Act. There is no definition of “Special Economic Zone which is in existence on or before the commencement… Read More »

Free servicing during warranty period by dealer out of their margin is not liable for service tax

By | November 9, 2015

Facts of the case Appellant are holders of services tax registration under the category of authorized service station for Maruti Udyog Ltd., they were undertaking servicing of the vehicles one free service provided during the warranty period and paid service provided after the warranty period. Issue :- It was observed by the authorities that the… Read More »

Procedure for grant of license to individual Surveyor and Loss Assessors

By | November 9, 2015

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 30th October, 2015 Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015 F.No. IRDAI/Reg/18/108/2015- In exercise of the powers conferred by clause (x) and (xa) of sub-section 2 of Section 114A read with Sections 42D, 42E and 64UM of the Insurance… Read More »

Section 10(37) not available if agricultural activity not carried out

By | November 9, 2015

Facts of the Case :- The assessee-appellant is a Class-IV employee in the postal department. He purchased certain land in village Dummannahalli on 27.7.2006. The said land was notified for acquisition under the provisions of Karnataka Industrial Area Development Act, 1966 (for short ‘the KIAD Act’). Thereafter, on the basis of an agreement entered into… Read More »

Company engaged in software design cannot be considered as comparable to software development service

By | November 9, 2015

Company engaged in business of software products, design and development of software cannot be considered as comparable to software development service provider and Forex gain on receipt of consideration against services rendered to AE is part of operating revenue Analog Devices India (P.) Ltd. v. DCIT  [Bangalore ITAT] IT (T.P) Appeal No. 1288 of 2014… Read More »

Following the prescribed Time limit in passing order u/s 12AA of the Income-tax Act

By | November 9, 2015

Instruction No. 16/2015 F.No.197/38/2015-ITA.1 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) (ITA-1 Division) North Block, ITA-I Division Dated, the 6th November, 2015 To All the Principal Chief Commissioners of Income-tax All the Chief Commissioners of Income-tax Chief Commissioner of Income-tax (Exemptions) All Directors General of Income-tax Sir/Madam, Sub:- Following… Read More »