Monthly Archives: April 2017

Doctors have to Prescribe generic drugs or face disciplinary action: MCI

By | April 25, 2017
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Phone : 25367033, 25367035, 25367036 Telegrams : MEDCONCIND, New Delhi Fax : 0091-11-25367024 E-mail : pg@mciindia.org; mci@bol.net.in Website : www.mciindia.org Pocket- 14, Sector- 8, Dwarka Phase – 1 New Delhi-110077 MEDICAL COUNCIL OF INDIA No. MCI-211(2)(Gen.)/2017-Ethics/104728 Date: 21/04/2017 To, 1. Dean/ Principals of all the Medical Colleges, 2. Director of all the hospitals (exclusive PG Institutions without medical colleges),… Read More »

ICSI – ACADEMIC HELPLINE Number launched for CS Students

By | April 25, 2017
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Press Release The Chief of Bureau April 24, 2017 The Institute of Company Secretaries of India (ICSI) is taking various initiatives for the continued growth of CS Profession and its increased recognition, awareness and trust amongst the Corporates, Regulators and Government. In it’s pursuit of professional excellence, The ICSI has always provided the best support… Read More »

Rajasthan GST Bill 2017 – Introduced – Download – Print

By | April 25, 2017
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Date of Introduction 24/04/2017 Bill No. 29 of 2017 THE RAJASTHAN GOODS AND SERVICES TAX BILL, 2017 (To be introduced in the Rajasthan Legislative Assembly) A Bill to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the State of Rajasthan and the matters connected… Read More »

Sec. 68 AO cannot Examine Source of Source in Non-Share Capital Cases

By | April 25, 2017
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ITAT Delhi ACIT, Vs Smt. Prem Anand  Appeal Number : I.T.A. No. 3514/DEL/2014 Date of Judgement/Order : 13/04/2017 Assessment Year : 2008-09 Ld. CIT(A) has rightly observed that the assessee is not required to explain source of source of the fund gets buttressed by the amendment made in section 68 with effect from 01.04.2013, which… Read More »

Measurement land Distance from Municipality -Tahsildar Certificate required

By | April 25, 2017
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  Certificate of competent authority only can be relied for measurement of distance of land from Municipality ITAT Mumbai Asst. Commissioner of Income Tax Vs Mr. Alkesh Kanti Lal Patel  Appeal Number : I .T.A. No.4270/Mum/2015 Date of Judgement/Order : 03/04/2017 Assessment Year : 2011-12 We have observed that the assessee has claimed to have… Read More »

UP VAT Registration can’t be cancelled because of wrong Input Tax Credit claim

By | April 25, 2017
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Allahabad High Court Sevak Enterprises Vs Commissioner, Commercial Tax  Appeal Number : Sales/ Trade Tax Revision No. – 146 of 2017 Date of Judgement/Order : 13/04/2017 UP VAT Act Act does not contemplate that if claim of Input Tax Credit (I.T.C.) is reversed the registration of a dealer could be cancelled in addition to reversal… Read More »

Reduce grievance redressal time from 60 days to 30 days – CBDT

By | April 25, 2017
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SUSHIL CHANDRA Chairman, CBDT Special Secretary to Government of India Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi – 110001 E-Mail – chaimancbdt@nic.in Tele : 23092648 & Telefax : 23092544 New Delhi, 24th April, 2017 DO No. Dir.(Hqrs.)/Ch.(DT)/39(2)/2015 Dear Pr. CCIT/Pr. DGIT/CCIT/DGIT Sub: Timely and… Read More »

TDS on Land Acquisition amount is part of Compensation : SC

By | April 25, 2017
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Supreme Court of India Baranagore Jute Factory Plc. Mazdoor Sangh (Bms) Etc Vs  Baranagore Jute Factory Plc  Appeal Number : Civil Appeal No. 4298- 4299 of 2017 Date of Judgement/Order : 21/03/2017 Leave granted. 2. The appellants are the petitioners/ applicants before the learned Single Judge in an application filed by them for taking appropriate… Read More »

Subsidy for Setting Up / Expansion of Industry is tax-free Capital Receipt

By | April 25, 2017
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ITAT Delhi LG Electronics India Pvt. Ltd. Vs. ACIT  Appeal Number : ITA No. 2163/Del/2015 Date of Judgement/Order : 19/04/2017 Assessment Year : 2008- 09 It is an admitted position that the assessee treated the amount of subsidy as a capital receipt, but, did not reduce it from the value of fixed assets and eventually… Read More »

Share Trading Income cannot be treated as ‘Capital Gain, it is business income

By | April 25, 2017
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ITAT Ahemdabad Income-Tax Officer Vs Manusi Securities Pvt. Ltd.  Appeal Number : ITA Nos. 2338 & 2339/Ahd/2011 Date of Judgement/Order : 10/04/2017  Assessment Year : 2007-08 & 2008-09 We notice that assessee company is engaged in the business of trading in securities. During the year assessee has shown the sale of securities as business receipts… Read More »