{"id":2593,"date":"2016-12-16T09:38:14","date_gmt":"2016-12-16T09:38:14","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=2593"},"modified":"2021-07-10T08:40:39","modified_gmt":"2021-07-10T08:40:39","slug":"corporate-and-professional-update-dec-16-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-16-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE DEC 16, 2016"},"content":{"rendered":"<p><strong>Today Update :<\/strong><\/p>\n<figure id=\"attachment_2594\" aria-describedby=\"caption-attachment-2594\" style=\"width: 514px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/11987074_919610658111019_5991428056741075136_n.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2594\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/11987074_919610658111019_5991428056741075136_n-300x203.jpg\" alt=\"www.caindelhiindia.com; Corporate updates\" width=\"514\" height=\"348\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/11987074_919610658111019_5991428056741075136_n-300x203.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/11987074_919610658111019_5991428056741075136_n.jpg 500w\" sizes=\"(max-width: 514px) 100vw, 514px\" \/><\/a><figcaption id=\"caption-attachment-2594\" 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>271(1)(c) penalty cannot be levied in a case where the assessee has relied on the legal opinion of a professional and there is no tax impact i.e. the loss disallowed in year one is allowed set-off in a later year\u00a0\u00a0Pr. CIT vs. Atotech India Ltd (P&amp;H High Court)<\/li>\n<li>Bombay High court held that the expenditure incurred on corporate advertisement and for promotion of a corporate brand as it was in the nature to maintain the brand and\/or corporate image was to be allowed as revenue expenditure. [CIT Vs Asian Paints(India) Pvt Ltd.]<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Indirect Tax:-<\/span><\/strong><\/p>\n<ul>\n<li>Supreme Court held that the power of the Sales Tax Commissioner to extend the time to pass an order on assessment is to be exercised before the normal period of assessment expires.[State of Punjab &amp; Ors. Vs M\/s Shreyans Indus. Ltd. Etc.]<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Companies Act\u00a0 Update:-<\/span><\/strong><\/p>\n<ul>\n<li>MCA has revised the version of e-forms: Form INC-18, Form DIR-3, and Form MGT-14 with effect from 17th Dec\u2019 2016.<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Other Update:-<\/span><\/strong><\/p>\n<ul>\n<li>The legal profession is not a commercial activity &#8211; Running of office by an Advocate in a building cannot be termed as Commercial activity &#8211; Electricity rates fixed for Commercial user cannot be charged. SUPREME COURT OF INDIA Before: &#8211; Arijit Pasayat &amp; H.K. Sema, JJ.<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Key Dates:-<\/span><\/strong><\/p>\n<ul>\n<li>E- Payment of DVAT &amp; CST for Nov: 21.12.2016.<\/li>\n<li>Issue of DVAT Certificate for Deduction made in Nov: 22.12.2016.<\/li>\n<\/ul>\n<p>&#8220;STOP hating yourself for everything you are not, START loving yourself for everything that you are.&#8221;<\/p>\n<p>&#8220;If you want to achieve excellence, you can get there today. As of this second, quit doing less-than-excellent work.&#8221;<\/p>\n<p>We look forward to 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:- 271(1)(c) penalty cannot be levied in a case where the assessee has relied on the legal opinion of a professional and there is no tax impact i.e. the loss disallowed in year one is allowed set-off in a later year\u00a0\u00a0Pr. CIT vs. Atotech India Ltd (P&amp;H High Court) Bombay High &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":[632,642,21,20],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2593"}],"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=2593"}],"version-history":[{"count":3,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2593\/revisions"}],"predecessor-version":[{"id":2755,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2593\/revisions\/2755"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=2593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=2593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=2593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}