CORPORATE AND PROFESSIONAL UPDATES JULY 23, 2016
Today updates: DIRECT TAX: Income Tax: Excise and Customs duty on closing stock is deductible on payment basis as per sec. 43B Commissioner of Income-tax, Bangalore v. NCR Corporation India (P.) Ltd. [2016] 71 taxmann.com 211 (Karnataka) Income tax : Where assessee, a tenant co-partnership housing society, constructed four additional tenements and thereafter four persons sought membership …