{"id":2582,"date":"2016-12-13T07:25:29","date_gmt":"2016-12-13T07:25:29","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=2582"},"modified":"2020-10-10T10:55:55","modified_gmt":"2020-10-10T10:55:55","slug":"corporate-and-professional-update-dec-13-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-13-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE DEC 13, 2016"},"content":{"rendered":"<p><strong>Today Update :<\/strong><\/p>\n<figure id=\"attachment_2583\" aria-describedby=\"caption-attachment-2583\" style=\"width: 502px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/images-3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2583\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/images-3.jpg\" alt=\"www.caindelhiindia.com; Corporate updates\" width=\"502\" height=\"302\" \/><\/a><figcaption id=\"caption-attachment-2583\" class=\"wp-caption-text\">www.caindelhiindia.com; Corporate updates<\/figcaption><\/figure>\n<p><strong>\u00a0<\/strong><strong><span style=\"text-decoration: underline;\">DIRECT TAX:-<\/span><\/strong><\/p>\n<ul>\n<li>Non disposal of an application for registration before the expiry of six months as provided u\/s 12AA (2) results in deemed grant of registration -Supreme Court in CIT vs. Society for the promotion of education.<\/li>\n<li>ITAT Mumbai held that the surrounding circumstances and human probabilities attached to a transaction should be examined by considering the transactions as a whole. Therefore, AO cannot decide the geniuses only finding some unusual things but also bound to examine the things which are indicating that the claim of assessee may be genuine.\u00a0[M\/s. Maruti Impex Vs JCIT (ITAT Mumbai)<\/li>\n<li>SC to decide whether interest on loans provided to employees would be eligible for sec. 80P relief Punjab State Cooperative Federation of House Building Societies Ltd. v. Commissioner of Income-tax [2016] (SC).<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Indirect Tax:-<\/span><\/strong><\/p>\n<ul>\n<li>CESTAT Mumbai in the below cited case held that when the admissibility of CENVAT Credit is not disputed on legal grounds viz eligibility and duty payment document, then credit cannot be denied merely on technical lapses. Thus, the credit can be allowed even on the basis of photocopy of courier bill of entry.\u00a0[Arbes Tools P. Ltd. Vs CCE (CESTAT Mumbai)].<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Companies Act\u00a0 Update:-<\/span><\/strong><\/p>\n<ul>\n<li>Of India issued report on Companies Amendment Bill, 2016.<\/li>\n<li>MCA has\u00a0notified\u00a0the Companies (Transfer of Pending Proceedings) Rules, 2016\u00a0which shall come into force w.e.f\u00a015th December, 2016 except rule 4, which shall come into force\u00a0from 1st April, 2017.<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Key Dates:-<\/span><\/strong><\/p>\n<ul>\n<li>Payment of Advance Income Tax for all assessees (75%) :\u00a015\/12\/2016.<\/li>\n<li>E-Payment of PF for Nov:\u00a015\/12\/2016.<\/li>\n<li>Payment of DVAT TDS for Nov :\u00a015\/12\/2016.<\/li>\n<li>Issue of TDS certificate in case of payment\/credit made in Oct for purchase of property u\/s 194IA :\u00a015\/12\/2016.<\/li>\n<\/ul>\n<p>&#8220;Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.&#8221;<\/p>\n<p>\u201cThere are no shortcuts to any place worth going.\u201d<\/p>\n<p>We look forward for your valuable comments.\u00a0 <a href=\"https:\/\/www.caindelhiindia.com\">www.caindelhiindia.com<\/a><\/p>\n<p>FOR FURTHER QUERIES CONTACT US:<\/p>\n<p>W:\u00a0<a href=\"https:\/\/www.caindelhiindia.com\">www.caindelhiindia.com<\/a> \u00a0\u00a0\u00a0 \u00a0E: info@caindelhiindia.com \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 T: 011-233-4-3333, 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today Update : \u00a0DIRECT TAX:- Non disposal of an application for registration before the expiry of six months as provided u\/s 12AA (2) results in deemed grant of registration -Supreme Court in CIT vs. Society for the promotion of education. ITAT Mumbai held that the surrounding circumstances and human probabilities attached to a transaction should &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":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2582"}],"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=2582"}],"version-history":[{"count":2,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2582\/revisions"}],"predecessor-version":[{"id":2760,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2582\/revisions\/2760"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=2582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=2582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=2582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}