{"id":2068,"date":"2016-05-28T11:11:12","date_gmt":"2016-05-28T11:11:12","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=2068"},"modified":"2021-07-07T12:52:38","modified_gmt":"2021-07-07T12:52:38","slug":"corporate-and-professional-update-may-28-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-may-28-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE MAY 28, 2016"},"content":{"rendered":"

Today updates:<\/strong><\/span><\/p>\n

\"www.caindelhiindia.com;<\/a>
www.caindelhiindia.com; Corporate updates<\/figcaption><\/figure>\n

DIRECT TAX:<\/strong><\/span>\u00a0<\/strong><\/p>\n

Income Tax:\u00a0Delhi HC allows assessee\u2019s writ & quashes assessment u\/s 143(3) read with Sec 144C for AY 2009-10, \u00a0presumes that order was not passed within the prescribed time-limit\u00a0as Revenue could not prove service of final assessment order u\/s 144C on assessee As Revenue could not produce any proof of\u00a0dispatch\u00a0of the assessment order soon after it was passed , HC accepts assessee\u2019s contention that final assessment order was not passed on the date\u00a0mentioned therein and was probably antedated in order to avoid the expiry of the limitation period.[TS-285-HC-2016(DEL)]<\/p>\n

Income Tax : \u00a0Allowability of loss on demerger in the computation of book profit u\/s 115JB – MAT – the observation of the AO that such loss could not be debited to the profit and loss account and ought to have been adjusted against the reserve of the assessee company is not Correct – Tri<\/p>\n

CBDT enables electronic filing of forms-ITR 1, 4S, 15CA, 15CB & 15CC; other ITR forms to be enabled shortly, CBDT press release dated 04-04-2016.\u00a0<\/strong><\/p>\n

INDIRECT TAX:<\/strong><\/span>\u00a0<\/strong><\/p>\n

Service Tax:\u00a0CBEC provides\u00a0<\/strong>that\u00a0\u00a0Notification No. 30\/2012 – Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 472 (E), dated the 20th June, 2012 shall be applicable mutatis mutandis for the purposes of Krishi Kalyan Cess vide Notification No.\u00a027\/2016\u00a0dated\u00a026\/05\/2016.\u00a0This notification shall come into force from the\u00a01st day of June, 2016<\/p>\n

Service tax : CBEC provides vide Notification No.\u00a028\/2016\u00a0dated\u00a026\/05\/2016\u00a0that Krishi Kalyan Cess shall be leviable only on that percentage of taxable value which is specified in column (3) for the specified taxable services in column (2) of the Table in the notification No. 26\/2012-Service Tax, dated 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide number G.S.R. 468 (E), dated the 20th June, 2012.\u00a0This notification shall come into force from the\u00a01st day of June, 2016.<\/p>\n

Central Excise:\u00a0Entitlement of Cenvat credit – Input Services not received in the registered unit – appellant is entitled for the Cenvat Credit in respect of Security Services, Fettling Contract Service & Architectural Services used outside the factory of the appellant in their own Hinjewadi & Wai unit<\/p>\n

Key Dates:<\/strong>\u00a0<\/strong><\/span><\/p>\n

Issue of TDS\/TCS certificates for March quarter by all deductors\/collectors:\u00a030.05.2016.<\/p>\n

“A seed grows with no sound,<\/strong>\u00a0<\/strong>but a tree falls with huge noise. Destruction has noise, but creation is quiet.<\/strong>\u00a0<\/strong>This is the power of silence”<\/strong>\u00a0<\/strong><\/p>\n

We look forward to your valuable comments.\u00a0 www.caindelhiindia.com<\/a><\/p>\n

FOR\u00a0 FURTHER\u00a0 QUERIES\u00a0 CONTACT\u00a0US:<\/strong><\/span><\/p>\n

W: www.caindelhiindia.com \u00a0 \u00a0 \u00a0\u00a0 \u00a0 \u00a0 E: info@caindelhiindia.com \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0T:011-233-4-33333, 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"

Today updates: DIRECT TAX:\u00a0 Income Tax:\u00a0Delhi HC allows assessee\u2019s writ & quashes assessment u\/s 143(3) read with Sec 144C for AY 2009-10, \u00a0presumes that order was not passed within the prescribed time-limit\u00a0as Revenue could not prove service of final assessment order u\/s 144C on assessee As Revenue could not produce any proof of\u00a0dispatch\u00a0of the assessment …<\/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":[647,142,146,1],"tags":[516,179,180,562,560,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2068"}],"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=2068"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2068\/revisions"}],"predecessor-version":[{"id":2870,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2068\/revisions\/2870"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=2068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=2068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=2068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}