CBEC issues a Circular on recovery of confirmed demands during the pendency of stay application of duty Central Board of Excise and Customs (CBEC) has issued a circular dated 04.07.2016 on the issue of ‘’Recovery of confirmed demand of tax during the pendency of stay application’’ in relation to indirect taxes. Confirmed demand of tax… Read More »
Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, others – Palm Oil, Crude Palmolein, RBD Palmolein, others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver notified In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs Act, 1962 (52… Read More »
TRAI releases Draft Telecom Consumers Protection (Tenth Amendment) Regulations (TCPR), 2016 for Comments of the Stakeholders Telecom Regulatory Authority of India (TRAI) has today released The Draft Telecom Consumers Protection (Tenth Amendment) Regulations, 2016 for public consultation inviting comments of the Stakeholders. The present regulatory regime governed by TCPR-2012 allows Telecom Service Providers to offer… Read More »
Cabinet approves the National Apprenticeship Promotion Scheme The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved a National Apprenticeship Promotion Scheme. The Scheme has an outlay of Rs. 10,000 crore with a target of 50 lakh apprentices to be trained by 2019-20. The Scheme would be implemented by Director General of… Read More »
Cabinet approves the High Courts (Alteration of Names) Bill, 2016 for enabling changing the names of High Courts of Bombay and Madras The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to introduce ‘The High Courts (Alteration of Names) Bill, 2016’ in Parliament. The High Courts (Alteration of Names)… Read More »
Cabinet approves Revision of pension of BSNL Pensioners Removing Anomalies The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the revision of pension of BSNL pensioners and family pensioners, who retired prior to 10.06.2013 by allowing the benefit of merger of 50% DA/DR with Basic Pay/ Pension, effectively amounting to 78.2%… Read More »
Interest subvention to Public Sector Banks, Private Sector Banks, Cooperative Banks, Regional Rural Banks and NABARD for providing short term crop loan to farmers The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Interest Subvention Scheme for farmers for the year 2016-17. The Government has earmarked a sum of Rs.… Read More »
July 4, 2016 FOR THE URGENT ATTENTION OF STUDENTS Change in syllabus under the Revised Education and Training Scheme Number of queries are being received from the students with respect to the proposed change in the curriculum of Education and Training of CA course as to what will happen if registration is done under the… Read More »
IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD A BENCH, AHMEDABAD Urvi Chirag Sheth ………………….Appellant Vs. Income Tax Officer Ward 5(2)(3), Ahmedabad ……………….Respondent S. 56(2)(vii)/ 145A: Interest awarded on compensation for personal disability does not have the character of “income” and cannot be taxed. CBDT requested to issue instructions to mitigate hardship of accident victims Clearly,… Read More »
IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR I.T.A. No.: 106/RPR/2016 Assessment year: 2010-11 R K P Company ………….…………….Appellant Vs. Income Tax Officer Ward 1, Korba ……..….…….…Respondent S. 40(a)(ia): When there are conflicting judgements of non-jurisdiction High Courts, the Tribunal is not permitted to choose based on its perception of what the correct law… Read More »