Monthly Archives: June 2016

Service tax Amendment w.e.f 01.06.2016

By | June 1, 2016

Finance Bill, 2016 which get President’s assent dated 14th May, 2016, has proposed to amend various provisions under the Act. Changes made applicable wef. 1st June, 2016 are listed as follows:- a. Levy of “Krishi Kalyan Cess” Krishi Kalyan Cess (KKC) @0.5%, vide introduction of Chapter VI in the Act, would be levied on all… Read More »

If time limit for issue of scrutiny notice not expired, Income escaping notice couldn’t be issued

By | June 1, 2016

IN THE ITAT CHANDIGARH BENCH Vardhman Holdings Ltd. v. Assistant Commissioner of Income-tax, Circle-1, Ludhiana H.L. KARWA, VICE-PRESIDENT AND MS. RANO JAIN, ACCOUNTANT MEMBER IT APPEAL NOS. 523 & 621 (CHD.) OF 2008 AND 1136 (CHD.) OF 2011 [ASSESSMENT YEAR 2002-03] MAY  5, 2016 Subhash Aggarwal and Vineet Jain for the Appellant. S.K. Mittal, DR… Read More »

Indexation benefit can’t be denied because Assessee not declared long term gain in ITR

By | June 1, 2016

IN THE ITAT MUMBAI BENCH ‘E’ Sanju Verma v. Deputy Commissioner of Income-tax, 25(3), Mumbai SAKTIJIT DEY, JUDICIAL MEMBER AND RAMIT KOCHAR, ACCOUNTANT MEMBER IT APPEAL NO. 5977 (MUM.) OF 2013 [ASSESSMENT YEAR 2010-11] MAY  6, 2016 Jitendra Jain for the Appellant. Sunil Kumar Agarwal, DR for the Respondent. ORDER Ramit Kochar, Accountant Member –… Read More »

National Disaster Management Plan released by Govt

By | June 1, 2016

PM releases National Disaster Management Plan 2016 The National Disaster Management Plan 2016  aims to make India disaster resilient and reduce loss of lives Prime Minister Shri Narendra Modi today released the National Disaster Management Plan (NDMP). This is the first ever national plan prepared in the country. It aims to make India disaster resilient and… Read More »

Factoring charges on sales cannot be termed as interest u/s 194A

By | June 1, 2016

HIGH COURT OF DELHI Principal Commissioner of Income-tax-06 v. M Sons Gems N Jewellery (P.) Ltd. S. MURALIDHAR AND VIBHU BAKHRU, JJ. IT APPEAL NO. 9 OF 2016 APRIL  25, 2016 Rahul Chaudhary, Sr. Standing Counsel for the Appellant. Kapil Goel, Adv. for the Respondent. JUDGMENT 1. This appeal by the Revenue is against the… Read More »

Energy Savings Certificate through Power Exchanges

By | June 1, 2016

CENTRAL ELECTRICITIY REGULATORY COMMISSION NOTIFICATION Mumbai, the 27th May, 2016 No. L-1/97/ 2016.─ In exercise of powers conferred under sub-section(1)and clause (y) of sub-section (2) of section 178 read with Section 66 of the Electricity Act, 2003 (36 of 2003), paragraph 5.9 of the National Electricity Policy, sub-Rule (4) of Rule 12 and clause (b)… Read More »

Medical Officers retirement age 65 : Govt Notification

By | June 1, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS (Department of Personnel and Training) NOTIFICATION New Delhi, the 31st May, 2016 G.S.R. 567(E).— In exercise of the powers conferred by the proviso to the article 309 of the Constitution, the President hereby makes the following rules further to… Read More »

Swachh Parks : All parks to be rated for cleanliness

By | June 1, 2016

15 day Swachh Parks campaign gets underway from today All parks to be rated for cleanliness ; UD Ministry issues guidelines As a part of fortnightly thematic campaigns under Swachh Bharat Mission, the Ministry of Urban Development has asked States and Union Territories to focus on ensuring sanitation and cleanliness in all the parks in… Read More »

Minimum addition of 9 sq.mt carpet area under PMAY(urban)

By | June 1, 2016

Minimum enhancement of 9 sq.mt carpet area required under Urban Housing Mission Under Prime Minister’s Awas Yojana (Urban), minimum addition of 9.0 sq.mt of carpet area to the existing house will be required to be eligible for Central assistance under the ‘Beneficiary Led Construction’ component of the housing mission. Ministry of Housing & Urban Poverty… Read More »