CORPORATE AND PROFESSIONAL UPDATE SEPT 8, 2016
Today Day: Direct Tax: Systematic / Regular sub-leasing of premises is taxable as business income. [Bombay Plaza Pvt. Ltd. vs. A.C.I.T. (ITAT Kolkata)] No penalty for not declaring STCG due to bonafide mistake/clerical error. [Shri Raj Dutta vs. JCIT (ITAT Delhi)] Section 145A is not applicable on taxable services.[CIT vs. Knight Frank (India) Pvt. Ltd. …