CORPORATE AND PROFESSIONAL UPDATE MAY 19, 2016
TODAYS UPDATE : Direct Tax: IT: Computing MAT liability under the provisions of Sec-115JB deduction u/s 80HHC shall be allowed after setting off losses suffered on export of trading goods – M/s. United Breweries (Holdings) Ltd. Vs. CIT, Bangalore (2016 (4) TMI 570 – ITAT Bangalore) IT: Amounts received by the assessee from various producers towards advances cannot be …