Held The goods being transported in a vehicle running upon fixed rails could not be detained under Section 51 of the Act, at the relevant time. HIGH COURT OF PUNJAB AND HARYANA State of Punjab v. Indo Arya Central Transport Ltd. RAJESH BINDAL AND HARINDER SINGH SIDHU, JJ. VAT APPEAL NO. 73 OF 2009 (O… Read More »
Upfront/Lump Sum lease premium for long term lease not rent u/s 194I Circular No 35/2016 Dated 13.10.2016 Lump Sum lease premium or One time upfront lease charges which are not adjustable against periodic rent , paid or payable for acquisition of long term leasehold rights over land or any other property are not payments in… Read More »
“CHARITABLE PURPOSES – CHARITABLE TRUST – REGISTRATION OF TRUST -APPPLICATION OF INCOME OUTSIDE INDIA -NOT A GROUND FOR REFUSING REGISTRATION-INCOME-TAX ACT, 1961, SS. 11, 12A So far as the benefit of section 11(1)(a) of the Income-tax is concerned, it can be extended only to the extent to which such income is applied to such purposes… Read More »
Q whether interest received under section 28 of Land Acquisition Act was taxable in hands of assessee under section 56 as income from other sources in year of receipt ? Held, yes HIGH COURT OF PUNJAB AND HARYANA Manjet Singh (HUF) Karta Manjeet Singh v. Union of India AJAY KUMAR MITTAL AND MS. ANITA CHAUDHRY,… Read More »
Many Victims of Hurricane Matthew Qualify for Late-Filing Penalty Relief; IRS Continues to Closely Monitor As Oct. 17 Deadline Approaches WASHINGTON — The Internal Revenue Service today advised taxpayers affected by Hurricane Matthew but not yet covered by a federal disaster declaration with individual assistance that they may qualify for relief from penalties if they… Read More »
Instruction No. 11 of 2016 F.No.142/8/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) *** New Delhi, the 13th October, 2016 To, All Principal Chief Commissioners of Income-tax Sub.: The Income Declaration Scheme, 2016 – reg. Representations have been received from field authorities to allow electronic mode of communication… Read More »
Appointment of Common Adjudicating Authority by DGRI [To be published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (ii)] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Directorate of Revenue Intelligence Notification No. 2/2016-Customs (N.T./CAA/DRI) New Delhi, dated the 13th October, 2016 S.O. (E). – In… Read More »
Read ESIC Applicability ; Threshold Salary Limit increased to Rs 21000 -Govt Notification Dated 23.12.2016 MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 6th October, 2016 G.S.R. 957(E).—Whereas certain draft rules further to amend the Employees’ State Insurance (Central) Rules, 1950 which the Central Government, after consultation with the Employees’ State Insurance Corporation, proposes to make… Read More »
MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 6th October, 2016 G.S.R. 959(E).—Whereas certain draft rules further to amend the Employees’ State Insurance (Central) Rules, 1950 were published, as required by sub-section (1) of section 95 of the Employees’ State Insurance Act, 1948 (34 of 1948), in the Gazette of India, Extraordinary, Part-II, section… Read More »
Section 24 and Section 56 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) RBI/2016-17/83 DBR.No.Ret.BC.15/12.02.001/2016-17 October 13, 2016 All Commercial Banks, Primary (Urban) Co-operative Banks (UCBs), State and Central Co-operative Banks (StCBs/CCBs) Dear Sir, Section 24 and Section 56 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity… Read More »