{"id":1971,"date":"2016-04-13T05:53:46","date_gmt":"2016-04-13T05:53:46","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=1971"},"modified":"2024-04-22T08:10:35","modified_gmt":"2024-04-22T08:10:35","slug":"corporate-and-professional-update-april-3-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-april-3-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE APRIL 4, 2016"},"content":{"rendered":"<h3 style=\"text-align: justify;\"><span style=\"color: #000080;\">CORPORATE AND PROFESSIONAL UPDATE APRIL 4, 2016<\/span><\/h3>\n<p><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/07\/9.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2829\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/07\/9.jpg\" alt=\"www.caindelhiindia.com; Corporate updates\" width=\"882\" height=\"441\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>DIRECT TAX:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/caindelhiindia.com\/service\/income-tax-return-filing\">Income Tax<\/a> :\u00a0Security deposit collected from its members refundable &#8211; whether receipts does not partake the character of income? &#8211; Held No- (Gulmohar Greens Golf and Country Club Ltd. Versus DCIT, Circle-2\u00a0(1) (1) , Ahmedabad &#8211; 2016 (3) TMI 1065 &#8211; ITAT AHMEDABAD).<\/li>\n<li>Income Tax:\u00a0Exemption u\/s 54B &#8211; assessee has purchased agricultural land in the name of his wife and the payment was made by the assessee from his own source through banking channel &#8211; assessee is entitled for the benefit of deduction u\/s 54B- (Jai Prakash S\/o. Sh. Girdhari Lal Versus ITO Ward-1 (3)\u00a0, Meerut &#8211; 2016 (3) TMI 1061 &#8211; ITAT DELHI)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>INDIRECT TAX:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong>Service Tax :<\/strong><\/span> ST counted from date of receipt of export proceeds and not from date of export Cenvat Credit : Export of services is complete only after receipt of consideration towards same; hence, service exporters may claim refund of utilized Cenvat credit within time-allowed under section 11B, viz., 1 year from date of receipt of consideration [2016] 67com\u00a0313 (Bangalore &#8211; CESTAT)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Infosys Technologies Ltd. v. Commissioner of Service Tax.<\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong>Service Tax :<\/strong><\/span> Benefit of SSI Exemption &#8211; Appellant s name of the company itself is M\/s. Elac Marketing Pvt. Ltd. The company name itself has the word Elac which is part of the company s name and the appellants cleared the goods indicating their company name Elac followed with Excel . Therefore it cannot be construed that they have affixed brand name of other person- (M\/s. Elac Marketing Pvt. Ltd. And Shri K.S. Ganesh, Director Versus Commissioner of Central Excise, \u00a0CESTAT CHENNAI.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Service Tax :<\/strong><\/span> Interest on refund &#8211; respondent-assessee is not entitled to interest on delayed refund because the department has sanctioned the refund within a period of three months from the date of receipt of the application for refund as per the requirement in law- (Commissioner of Central Excise, Pune-III Versus Suresh Enterprises\u00a0&#8211; 2016 (3) TMI 1045 &#8211; CESTAT MUMBAI)<\/li>\n<\/ul>\n<h2><span style=\"color: #000080;\"><strong>50 Excel Shortcut Keys You Should Know<\/strong><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-7004\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/50-Excel-Shortcut-Keys-You-Should-Know.jpg\" alt=\"50 Excel Shortcut Keys You Should Know\" width=\"878\" height=\"1544\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/50-Excel-Shortcut-Keys-You-Should-Know.jpg 592w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/50-Excel-Shortcut-Keys-You-Should-Know-171x300.jpg 171w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/50-Excel-Shortcut-Keys-You-Should-Know-582x1024.jpg 582w\" sizes=\"(max-width: 878px) 100vw, 878px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>Key Dates:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li>Payment of TDS u\/s 194IA deducted on purchase of property\/TCS collected in March:\u00a007\/04\/2016<\/li>\n<li>Submission of Forms received in March to IT Commissioner:\u00a007\/04\/2016- Form No. 27C(TCS)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>&#8220;Hard words cannot\u00a0 touch any soft heart\u00a0\u00a0but soft words can touch any hard heart, so speak in a soft way, world will be yours. Words win world.&#8221;<\/strong><\/p>\n<p style=\"text-align: justify;\">We look forward for your valuable comments.\u00a0 <a href=\"https:\/\/www.caindelhiindia.com\">www.caindelhiindia.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE APRIL 4, 2016 DIRECT TAX: Income Tax :\u00a0Security deposit collected from its members refundable &#8211; whether receipts does not partake the character of income? &#8211; Held No- (Gulmohar Greens Golf and Country Club Ltd. Versus DCIT, Circle-2\u00a0(1) (1) , Ahmedabad &#8211; 2016 (3) TMI 1065 &#8211; ITAT AHMEDABAD). Income Tax:\u00a0Exemption u\/s &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":[142,146],"tags":[502,501,511,572,179,180,561,214,549,537,560,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1971"}],"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=1971"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1971\/revisions"}],"predecessor-version":[{"id":7005,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1971\/revisions\/7005"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=1971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=1971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=1971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}