{"id":2016,"date":"2016-04-30T12:17:54","date_gmt":"2016-04-30T12:17:54","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=2016"},"modified":"2021-07-07T12:54:16","modified_gmt":"2021-07-07T12:54:16","slug":"corporate-and-professional-update-april-25-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-april-25-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE April 25, 2016"},"content":{"rendered":"
CORPORATE AND PROFESSIONAL UPDATE April 25, 2016<\/a><\/h5>\n
\"www.caindelhiindia.com;<\/a>
www.caindelhiindia.com; Corporate updates<\/figcaption><\/figure>\n

DIRECT TAX:<\/span><\/strong><\/p>\n

Surveying authority can\u2019t allege excess stock without demanding standard weighment facility from assessee[2016] 68\u00a0taxmann.com\u00a0288 (Amritsar – Trib.)\u00a0 Smt. Kailash Devi Prop. v. Income-tax Officer<\/p>\n

No Capital Gain on unaccrued contingent deferred consideration [CIT VS. Mrs Hemal Raju Shete(Bombay High Court)<\/p>\n

Sec. 263 Revision for starting fishing and roving enquiries not valid.[M\/s. Rachana Finance and investments pvt. Ltd. and M\/s. Repute Properties Pvt. Ltd. Vs. CIT (ITAT MUMBAI)<\/p>\n

Delay in filing return due to sufficient cause shall be condoned. [M\/s.Regen infrastructures and services Pvt. Ltd.Vs. CBDT,CIT,AND ITO(Madras High Court)]<\/p>\n

INDIRECT TAX:<\/span><\/strong><\/p>\n

Service Tax : If services of a club are contingent upon payments to be made separately for each transaction, then : (a) contribution to corpus by way of ‘entrance fee’, and (b) contribution to common expenditure by way of ‘subscription’ cannot be regarded as consideration for any service and cannot be charged to service tax<\/p>\n

Service Tax : Contractual privileges of an employer-employee relationship are outside purview of service tax; hence, concessional rent recovered from employees for perquisite by way of ‘concessional accommodation’ is not liable to service tax [2016] 8\u00a0taxmann.com\u00a0240 (Mumbai – CESTAT)\u00a0Gondwana Club v. Commissioner of Customs & Central Excise<\/p>\n

Time limit for Excise registration by jewellers extended to\u00a0July 1, 2016<\/p>\n

Govt. sets up sub-committee for excise duty on jewellery<\/p>\n

Company Law:<\/span><\/strong><\/p>\n

Query:\u00a0\u00a0\u00a0<\/strong>\u00a0Kindly clarify whether shares can be transferred as gift as per Company law?<\/p>\n

Answer:\u00a0<\/strong>There is nowhere any provision prohibiting the transfer of shares of company through gift. Moreover, Gift of shares\u00a0doesn\u2019t become invalid for non-compliance of formalities prescribed under Companies Act 2013.<\/p>\n

Key Dates:<\/span><\/strong><\/p>\n

Today,\u00a025.04.2016\u00a0is the last date to file E-Return for\u00a0 in Form 16 & Form CST 1, for the Quarter ending 31st March 2016.<\/p>\n

Today,\u00a025.04.2016\u00a0is last day to Service tax return ST-3\u00a0 for the half year ended in March, 2016<\/p>\n

Every day brings new choices. -Martha Beck<\/p>\n

We cannot change the direction of the wind. But, remember, we can always adjust the our sails.<\/p>\n

We look forward for your valuable comments.\u00a0www.caindelhiindia.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CORPORATE AND PROFESSIONAL UPDATE April 25, 2016 DIRECT TAX: Surveying authority can\u2019t allege excess stock without demanding standard weighment facility from assessee[2016] 68\u00a0taxmann.com\u00a0288 (Amritsar – Trib.)\u00a0 Smt. Kailash Devi Prop. v. Income-tax Officer No Capital Gain on unaccrued contingent deferred consideration [CIT VS. Mrs Hemal Raju Shete(Bombay High Court) Sec. 263 Revision for starting fishing …<\/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":[647,78,142,146,116],"tags":[502,501,179,180,214,537,562,560,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2016"}],"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=2016"}],"version-history":[{"count":4,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2016\/revisions"}],"predecessor-version":[{"id":2899,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2016\/revisions\/2899"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=2016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=2016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=2016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}