{"id":2618,"date":"2017-01-02T06:39:11","date_gmt":"2017-01-02T06:39:11","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=2618"},"modified":"2021-07-14T11:58:48","modified_gmt":"2021-07-14T11:58:48","slug":"corporate-and-professional-update-jan-2-2017","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-jan-2-2017\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE JAN 2, 2017"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e6d47252b85\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e6d47252b85\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-jan-2-2017\/#Today_Update\" title=\"Today Update :\">Today Update :<\/a><ul class='ez-toc-list-level-2'><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-jan-2-2017\/#DIRECT_TAX\" title=\"DIRECT TAX:-\">DIRECT TAX:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-jan-2-2017\/#Indirect_Tax\" title=\"Indirect Tax:-\">Indirect Tax:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-jan-2-2017\/#MCA_Update\" title=\"MCA Update:-\">MCA Update:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-jan-2-2017\/#Other_Update\" title=\"Other Update:-\">Other Update:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-jan-2-2017\/#Key_Dates\" title=\"Key Dates:-\">Key Dates:-<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Today_Update\"><\/span><span style=\"color: #333399;\"><strong>Today Update :<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<figure id=\"attachment_2620\" aria-describedby=\"caption-attachment-2620\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2017\/01\/Business-Evaluation-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-2620\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2017\/01\/Business-Evaluation-1-300x142.jpg\" alt=\"www.caindelhiindia.com; Corporate updates\" width=\"300\" height=\"142\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2017\/01\/Business-Evaluation-1-300x142.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2017\/01\/Business-Evaluation-1-1024x485.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2017\/01\/Business-Evaluation-1.jpg 1434w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-2620\" class=\"wp-caption-text\">www.caindelhiindia.com; Corporate updates<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"DIRECT_TAX\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">DIRECT TAX:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Delhi ITAT held that Penalty can be imposed only on disproved claim of expenditure and not unproven claim of expenditure. Arun Duggal Vs. DCIT (ITAT Delhi)<\/li>\n<li>The market value of the capital asset has no relevance in determining the full value of consideration: ITAT Assistant Commissioner of Income-tax, Circle-12, Ahmedabad v. Akash Association [2016] (Ahmedabad &#8211; Trib.)<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">Indirect Tax:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Delhi High Court declared Rule 5A(2) of the Service Tax Rules, as amended, to the extent that it authorizes the officers of the Service Tax Department, the audit party deputed by a Commissioner or the CAG to seek production of the documents mentioned therein on demand, as an ultra virus the Finance Act and therefore, struck it down to that extent. Union of India Vs. Mega Cabs Pvt. Ltd. (Supreme Court)<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"MCA_Update\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">MCA Update:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>MCA vide Notification has issued an amended rules for Incorporation to make compulsory use of the SPICE procedure for Incorporation of Companies w.e.f. 1.1.2017.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Other_Update\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">Other Update:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>SC dismissed the plea of substantial injury as the borrower didn&#8217;t object to sale certificate of mortgaged property Ludovico Sagrado Goveia v. Cirila Rosa Maria Pinto [2016] 76 (SC)<\/li>\n<li>The cash withdrawal limit from ATMs increased to Rs 4,500 per day w.e.f. 1st Jan 2017. No change in weekly withdrawal limits.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">Key Dates:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>E-Payment of Service Tax for the month of December \u2013\u00a006.01.2017<\/li>\n<li>Due date of deposit of Tax deducted\/collected for the month of December \u2013 07.01.2017<\/li>\n<\/ul>\n<p>\u201cExcellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly.\u201d<\/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 \u00a0 E: info@caindelhiindia.com \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 T: 011-233-4-3333, 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today Update : DIRECT TAX:- Delhi ITAT held that Penalty can be imposed only on disproved claim of expenditure and not unproven claim of expenditure. Arun Duggal Vs. DCIT (ITAT Delhi) The market value of the capital asset has no relevance in determining the full value of consideration: ITAT Assistant Commissioner of Income-tax, Circle-12, Ahmedabad &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":[642,21,20,647,173,144,146],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2618"}],"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=2618"}],"version-history":[{"count":3,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2618\/revisions"}],"predecessor-version":[{"id":2741,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2618\/revisions\/2741"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=2618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=2618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=2618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}