{"id":1663,"date":"2016-02-08T12:07:26","date_gmt":"2016-02-08T12:07:26","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=1663"},"modified":"2021-06-23T18:59:28","modified_gmt":"2021-06-23T18:59:28","slug":"corporate-and-professional-update-dated-28-january","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE DATED 28 JANUARY"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d0e1f5053da\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d0e1f5053da\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#CORPORATE_AND_PROFESSIONAL_UPDATE_DATED_28_JANUARY\" title=\"CORPORATE AND PROFESSIONAL UPDATE DATED 28 JANUARY\">CORPORATE AND PROFESSIONAL UPDATE DATED 28 JANUARY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#INCOME_TAX_ACT\" title=\"INCOME TAX ACT\">INCOME TAX ACT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#CENTRAL_EXCISE_ACT\" title=\"CENTRAL EXCISE ACT\">CENTRAL EXCISE ACT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#CENTRAL_EXCISE_TARIFF_ACT\" title=\"CENTRAL EXCISE TARIFF ACT\">CENTRAL EXCISE TARIFF ACT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#CENVAT_CREDIT_RULES\" title=\"CENVAT CREDIT RULES\">CENVAT CREDIT RULES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#STATUTES\" title=\"STATUTES\">STATUTES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#CENTRAL_EXCISE_ACT-2\" title=\"CENTRAL EXCISE ACT\">CENTRAL EXCISE ACT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dated-28-january\/#STATUTES-2\" title=\"STATUTES\">STATUTES<\/a><\/li><\/ul><\/nav><\/div>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_DATED_28_JANUARY\"><\/span><span style=\"color: #000080;\">CORPORATE AND PROFESSIONAL UPDATE DATED 28 JANUARY<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/02\/X.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-3067\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/02\/X.png\" alt=\"www.caindelhiindia.com; BUSINESS SETUP\" width=\"714\" height=\"400\" \/><\/a><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INCOME_TAX_ACT\"><\/span><span style=\"color: #0000ff;\"><strong>INCOME TAX ACT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 9<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>INCOME &#8211; DEEMED TO ACCRUE OR ARISE IN INDIA<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Treaty Shopping :\u00a0<\/strong>SLP granted against High Court&#8217;s ruling that where shares of Indian company were listed, income arising from any future transfer of those shares would itself be exempt by virtue of section 10(38) and, hence, no treaty shopping to be alleged on transfer of shareholding in it by company of one foreign country to its 100 per cent subsidiary company of another foreign country &#8211;\u00a0<em>[2015] 64 337 (SC)<\/em><\/p>\n<p style=\"text-align: justify;\"><strong>Business income :\u00a0<\/strong>Where assessee purchased goods from its AE which did not have any PE in India, payments made for said off-shore sales was not liable to tax in India requiring deduction of tax at source &#8211;\u00a0<em>[2015] 64\u00a0338 (Delhi &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><strong>Purchase from AE :\u00a0<\/strong>Article 24 read with Article 9 of Indo Japan DTAA prohibits deletion of enhancement of income due to making of transactions at ALP, but permits deletion of enhancement of income due to disallowance under section 40(a)(i) of Income-tax Act &#8211;\u00a0<em>[2015] 64\u00a0338 (Delhi &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 12A<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>CHARITABLE OR RELIGIOUS TRUST &#8211; REGISTRATION OF<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Proviso :\u00a0<\/strong>As long as objects a society were charitable in nature in years earlier to year in which registration under section 12AA was granted, and no adverse findings were given with regard to existence of assessee-society for charitable purposes benefit of exemption under section 11 was to be given &#8211;\u00a0<em>[2015] 64\u00a0330 (Kolkata &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 36(1)(iii)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>INTEREST ON BORROWED CAPITAL<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Interest free loans :\u00a0<\/strong>Where capital of assessee was more than interest free short-term advances given to relatives\/friends and Assessing Officer was not able to prove nexus between interest bearing loans having been diverted to interest free loans, no part of interest paid on loans could be disallowed &#8211;\u00a0<em>[2015] 64\u00a0358 (Rajasthan)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 40A(3)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>BUSINESS DISALLOWANCE &#8211; CASH PAYMENTS EXCEEDING PRESCRIBED LIMITS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Refunds of :\u00a0<\/strong>Where in respect of refund of fees by assessee coaching institute in cash, additions were reduced by both appellate authorities after considering various materials, same was not to be interfered &#8211;\u00a0<em>[2015] 64\u00a0358 (Rajasthan)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 80-IAB<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>DEDUCTIONS &#8211; PROFIT AND GAINS BY AN UNDERTAKING OR ENTERPRISES ENGAGED IN DEVELOPMENT OF SPECIAL ECONOMIC ZONE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Condition precedent :\u00a0<\/strong>Where assessee claimed deduction under section 80-IAB but failed to maintain separate books of account for eligible units, Assessing Officer shall compute deduction on reasonable basis &#8211;\u00a0<em>[2015] 64 331 (Hyderabad &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 92C<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>\u00a0<\/strong><span style=\"color: #993366;\"><strong>TRANSFER PRICING &#8211; COMPUTATION OF ARM\u2019S LENGTH PRICE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Comparables and adjustments :\u00a0<\/strong>Where assessee earned commission from its AE for co-ordinating buyers and sellers in capacity of agent, TPO could not make addition to assessee&#8217;s income by adjusting financial result of said service segment and thereupon comparing it with trading segment &#8211;\u00a0<em>[2015] 64 338 (Delhi &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 148<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>INCOME ESCAPING ASSESSMENT &#8211; ISSUE OF NOTICE FOR<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Issue of fresh notice :\u00a0<\/strong>Where Assessing Officer initiated reassessment proceedings by issuing a notice under section 148, said proceedings should have been completed within time stipulated and till such time there was no occasion to initiate fresh reassessment proceedings by issuing another notice under section 148 &#8211;\u00a0<em>[2015] 64\u00a0334 (Delhi)<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 194A<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>DEDUCTIONS OF TAX AT SOURCE &#8211; INTEREST OTHER THAN INTEREST ON SECURITIES<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Nodal agencies :\u00a0<\/strong>Where assessee infrastructure corporation acted as a Nodal Agency for loan taken by Government organisations from other Government organisations, if payee had taken amount of interest received by it in computing its income and paid tax thereon, assessee would have no TDS obligation &#8211;\u00a0<em>[2015] 64\u00a0331 (Hyderabad &#8211; Trib.)<\/em><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">SECTION 2(15)<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>CHARITABLE PURPOSE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #800000;\"><strong>Object of general public utility :\u00a0<\/strong><\/span>Where assessee-trust having object to improve and spread language, was publishing newspaper following commercial activity, it could not be considered as charitable activity &#8211;\u00a0<em>[2016] 65 taxmann 186 (Chennai &#8211; Trib.).<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 41(1)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>REMISSION OR CESSATION OF TRADING LIABILITY<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Applicability of :<\/span>\u00a0<\/strong>Where assessee, engaged in trading of shares, purchased certain shares but same could not be transferred in its name due to some dispute and accordingly payment towards said shares was also not made, in spite of lapse of 12-13 years, there being nothing to suggest that there was remission or cessation of said liability during previous year, no addition could be made under section 41(1) on account of cessation of said liability.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 56<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>INCOME FROM OTHER SOURCES &#8211; CHARGEABLE AS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #800000;\"><strong>Interest :\u00a0<\/strong><\/span>Where assessee, a landowner, received interest under section 28 of Land Acquisition Act, 1894, said interest was taxable under section 56 as income from other sources in year of receipt.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">SECTION 69<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>UNACCOUNTED INVESTMENTS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Unaccounted sales :<\/span>\u00a0<\/strong>Where Assessing Officer noticing shortage of closing stock of shares by 500 shares, added amount of said shares as unaccounted sales, in view of fact that such shortage was on account of transaction of purchase of certain shares in last month of year out of which there was short delivery of 500 shares at year end, addition was not justified.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">SECTION 193<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>DEDUCTION OF TAX AT SOURCE &#8211; INTEREST ON SECURITIES<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Sick companies, in case of :<\/span>\u00a0<\/strong>Where assessee had been declared a sick company and it merely debited interest on debentures in its books to comply with requirements of Companies Act, there was no liability to deduct tax at source in terms of section 193.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">SECTION 271(1)(c)<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>PENALTY &#8211; FOR CONCEALMENT OF INCOME<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #800000;\">Ad hoc disallowance of expenditure :<\/span>\u00a0<\/strong>No penalty on NR as he genuinely believed that foreign income wasn&#8217;t taxable in India when it was exempt abroad.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">SECTION 272A<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>PENALTY &#8211; FOR FAILURE TO ANSWER QUESTIONS, SIGN STATEMENTS, ETC.<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #800000;\"><strong>Reasonable cause :\u00a0<\/strong><\/span>Where assessee came to know about requirement of filing quarterly statements in Form No. 27EQ only after survey was conducted on its business premises and thereupon assessee immediately deposited TCS along with interest, impugned penalty order passed by revenue authorities under section 271A(2)(k) was to be set aside.<\/p>\n<h3 style=\"text-align: justify;\"><a style=\"font-size: 16px;\" href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/01\/u.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-3092\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/01\/u.png\" alt=\"www.caindelhiindia.com; business consultancy\" width=\"908\" height=\"475\" \/><\/a><\/h3>\n<div class=\"mceTemp\"><\/div>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CENTRAL_EXCISE_ACT\"><\/span><span style=\"color: #0000ff;\"><strong>CENTRAL EXCISE ACT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">SECTION 5A<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>EXEMPTIONS &#8211; CENTRAL EXCISE &#8211; AREA-BASED EXEMPTIONS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Where basic excise duty is eligible for refund under area-based exemption notification 56\/2002-CE, then, even if education cesses are not specifically mentioned in notification, said cesses are also eligible for exemption\/refund.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>SECTION 6<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>REGISTRATION &#8211; CENTRAL EXCISE<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Registration cannot be denied to subsequent owner merely because of pending excise dues of previous owner. Further, for purpose of mere registration, it is not necessary that manufacturing unit should be fully operational.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CENTRAL_EXCISE_TARIFF_ACT\"><\/span><span style=\"color: #0000ff;\"><strong>CENTRAL EXCISE TARIFF ACT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>SECTION 2<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #800000;\"><strong>CLASSIFICATION &#8211; PRINTED GAY WRAPPERS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">&#8216;Printed Gay Wrappers&#8217; used for packing cigarettes is a product of printing industry under Heading 4901.90 of Excise Tariff and is therefore, eligible for benefit of NIL rate of duty.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CENVAT_CREDIT_RULES\"><\/span><span style=\"color: #0000ff;\"><strong>CENVAT CREDIT RULES<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong>RULE 2(l)<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Catering services for employees are ineligible for credit up to extent of amount recovered from employees further, services for Dussera festival celebration are ineligible for credit, being unconnected with business.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"STATUTES\"><\/span><span style=\"color: #0000ff;\"><strong>STATUTES<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\">CORPORATE LAWS<\/span><\/p>\n<p style=\"text-align: justify;\">Provision of safe deposit locker facility by NBFCs &#8211;\u00a0<a href=\"http:\/\/decoding.infosysworld.com\/authentication\/link.php?M=10909229&amp;N=5197&amp;L=12615&amp;F=H\"><em>CIRCULAR DNBR (PD).CC.NO.072\/03.10.001\/2015-16, DATED 28-1-2016<\/em><\/a> Frequently Asked Questions on SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 &#8211;<a href=\"http:\/\/decoding.infosysworld.com\/authentication\/link.php?M=10909229&amp;N=5197&amp;L=12614&amp;F=H\"><em>PRESS RELEASE, DATED 29-1-2016<\/em><\/a><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CENTRAL_EXCISE_ACT-2\"><\/span><span style=\"color: #ff6600;\"><strong>CENTRAL EXCISE ACT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong>SECTION 5A<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>EXEMPTIONS &#8211; CENTRAL EXCISE \u2013 GENERAL<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">If &#8216;excise exemption&#8217; is conditional upon &#8216;customs exemption&#8217;, conditions specific to customs exemption and meant for compliance by importers, cannot be forced upon domestic manufacturers; hence, excise exemption cannot be denied to domestic manufacturers for &#8216;not complying conditions specific to importers&#8217; &#8211;\u00a0<em>[2015] 64\u00a0317 (Bombay)<\/em><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"STATUTES-2\"><\/span><span style=\"color: #ff6600;\"><strong>STATUTES<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>DIRECT TAX LAWS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Guidance Note on Implementation of Reporting Requirements under Rules 114F to 114H of Income- tax Rules, 1962 &#8211;\u00a0<em>PRESS RELEASE, DATED 31-12-2015<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>CORPORATE LAWS<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Consultation paper for Guidelines for public issue of units of Real Estate Investment Trusts &#8211;\u00a0<em>PRESS RELEASE, DATED 2-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\">FEM (Export and Import of Currency) Regulations, 2015 &#8211;\u00a0<em>NOTIFICATION NO.FEMA 6(R)\/RB-2015 [F.NO.1\/31\/EM-2015]\/GSR 1004(E), DATED 29-12-2015<\/em><\/p>\n<p style=\"text-align: justify;\">FEM (Realisation, Repatriation and Surrender of Foreign Exchange) Regulations, 2015 &#8211;\u00a0<em>NOTIFICATION NO.FEMA 9(R)\/2015-RB [F.NO.1\/31\/EM-2015]\/GSR 1005(E), DATED 29-12-2015<\/em><\/p>\n<p style=\"text-align: justify;\">Arbitration and Conciliation (Amendment) Act, 2015 [NO.3 OF 2016] &#8211;\u00a0<em>PRESS RELEASE, DATED 2-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\">Payment of Bonus (Amendment) Act, 2015 [NO.6 OF 2016] &#8211;\u00a0<em>PRESS RELEASE, DATED 2-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\">FEM (Insurance) Regulations, 2015 &#8211;\u00a0<em>NOTIFICATION NO.12(R)\/2015-RB [F.NO.1\/31\/EM-2015]\/GSR 1007(E), DATED 29-12-2015<\/em><\/p>\n<p style=\"text-align: justify;\">Atomic Energy (Amendment) Act, 2015 [NO.5 OF 2016] &#8211;\u00a0<em>PRESS RELEASE, DATED 2-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\">Definition of Currency \u2013 Supersession of Notification No.FEMA 15\/2000-RB, dated 3-5-2000 &#8211;\u00a0<em>NOTIFICATION NO.FEMA 15(R)\/2015-RB [F.NO.1\/31\/EM-2015]\/GSR 1008(E), DATED 29-12-2015<\/em><\/p>\n<p style=\"text-align: justify;\">Post Office (Postal Orders\/Money Orders) \u2013 Supersession of Notification No.FEMA 18\/2000-RB, Dated 3-5-2000 &#8211;\u00a0<em>NOTIFICATION NO.FEMA 18(R)\/2015-RB [F.NO.1\/31\/EM-2015]\/GSR 1009(E), DATED 29-12-2015<\/em><\/p>\n<p style=\"text-align: justify;\">Scheduled Castes and The Scheduled Tribes (Prevention Of Atrocities) Amendment Act, 2015 [NO.1 OF 2016] &#8211;<em>PRESS RELEASE, DATED 2-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\">Juvenile Justice (Care and Protection of Children) Act, 2015 [2 OF 2016] &#8211;\u00a0<em>PRESS RELEASE, DATED 2-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\">Commercial Courts, Commercial Division and Commercial Appellate Division Of High Courts Act, 2015 [NO.4 OF 2016] &#8211;\u00a0<em>PRESS RELEASE, DATED 2-1-2016<\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993366;\"><strong>INDIRECT TAX LAWS (ST.EX.CUS. &amp; (CST &amp; VAT))<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Submission of Form DP-1 by all dealers latest by\u00a031-1-2016\u00a0&#8211;\u00a0<em>NOTIFICATION NO.F.3(352)POLICY\/VAT\/2013\/1201-21, DATED 31-12-20155<\/em><\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0<a href=\"mailto:info@caindelhiindia.com\">info@caindelhiindia.com<\/a>\u00a0or call at\u00a0011-233 433 33<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact : <span style=\"color: #0000ff;\">\u00a0<a style=\"color: #0000ff;\" href=\"mailto:info@caindelhiindia.com\">info@caindelhiindia.com<\/a><\/span>\u00a0or call\u00a0 at\u00a0011-233 43 333<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE DATED 28 JANUARY INCOME TAX ACT SECTION 9 INCOME &#8211; DEEMED TO ACCRUE OR ARISE IN INDIA Treaty Shopping :\u00a0SLP granted against High Court&#8217;s ruling that where shares of Indian company were listed, income arising from any future transfer of those shares would itself be exempt by virtue of section 10(38) &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[830],"tags":[566,502,501,831,572,562,560,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1663"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=1663"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1663\/revisions"}],"predecessor-version":[{"id":1666,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1663\/revisions\/1666"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=1663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=1663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=1663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}