{"id":385,"date":"2016-01-08T10:49:36","date_gmt":"2016-01-08T10:49:36","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=385"},"modified":"2021-07-10T08:38:06","modified_gmt":"2021-07-10T08:38:06","slug":"todays-updates","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/todays-updates\/","title":{"rendered":"TODAY\u2019S UPDATES"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><span style=\"color: #000080;\"><strong>Today\u2019s updates:<\/strong><\/span><\/h2>\n<figure id=\"attachment_3084\" aria-describedby=\"caption-attachment-3084\" style=\"width: 611px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/01\/t.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-3084\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/01\/t.png\" alt=\"www.caindelhiindia.com; Accounting service and tax compliances\" width=\"611\" height=\"375\" \/><\/a><figcaption id=\"caption-attachment-3084\" class=\"wp-caption-text\">www.caindelhiindia.com; Accounting service and tax compliances<\/figcaption><\/figure>\n<ul style=\"text-align: justify;\">\n<li>Block assessment can&#8217;t be framed on basis of material collected \u00a0 during survey.<\/li>\n<li>AO couldn&#8217;t doubt genuineness of share transaction merely on basis of statement of third party.<\/li>\n<li>MCA instruction on Online Payment.<\/li>\n<li>ICAI live seminar on Service Tax.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #0000ff;\"><strong><span style=\"text-decoration: underline;\">In Detailed :<\/span><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">1.Block assessment can&#8217;t be framed on basis of material collected during survey.<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">Section 158BC, read with sections 132 and 133, of the Income-tax Act, 1961 &#8211; Block assessment in search cases &#8211; Procedure for (Search v. Survey) &#8211; Block period 1996-97 to 17-7-2002 &#8211; Assessee firm was engaged in business of civil construction and developments &#8211; A survey operation was conducted at premises of assessee; and there was no search operation under section 132 &#8211; Material used for framing assessment under section 158BC was collected &#8211; Whether Tribunal had rightly quashed and set aside assessment order passed under section 158 BC &#8211; Held, yes [Para 3.0] [In favour of assessee]<span style=\"color: #33cccc;\">[2015] (Gujarat) HIGH COURT OF GUJARAT Commissioner of Income-tax<em>\u00a0v.<\/em><em>\u00a0<\/em>Parmar Builders &amp; Developers<a style=\"color: #33cccc;\" href=\"https:\/\/www.taxmann.com\/topstories\/101010000000156699\/block-assessment-cant-be-framed-on-basis-of-material-collected-during-survey.aspx#fn1\">*<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>2.AO couldn&#8217;t doubt genuineness of share transaction merely on basis of statement of third party.<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">IT: Where no incriminating material was found during search which could indicate that long-term capital gains arising out of sale of shares was bogus and assessment was completed without considerating details of purchase of shares produced by assessee, assessment was void<span style=\"color: #33cccc;\"> [2015]\u00a0(Mumbai &#8211; Trib.)IN THE ITAT MUMBAI BENCH &#8216;E&#8217; Vasantraj Birawa\u00a0<em>v.\u00a0<\/em>Assistant Commissioner of Income-tax<a style=\"color: #33cccc;\" href=\"https:\/\/www.taxmann.com\/fileopennew.aspx?id=101010000000160868&amp;mode=home&amp;page=#fn1\">*<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>3.MCA<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Please use\u00a0Online payment options\u00a0(Credit\/Debit\/Prepaid Card\/Net Banking) for making payment of MCA fee for LLP e-forms during\u00a09-Oct-2015 to 18-Oct-2015. Offline payments through Bank Challan, Pay later and NEFT options will not be available during this period for LLP eForms. However, it will remain available for company e-forms and other MCA services.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>4.ICAI<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Live seminar on \u201cService Tax Issues under Transportation etc.\u201d<br \/>\n16th October, 2015 (4.00 pm\u00a0to\u00a06.00 pm) from ICAI Head Office. ITO, New Delhi \u2013 110 011,Speaker Rohini Agarwal<\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact: <a href=\"mailto:info@caindelhiindia.com\">info@caindelhiindia.com<\/a> or call at\u00a0011-233 433 33<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s updates: Block assessment can&#8217;t be framed on basis of material collected \u00a0 during survey. AO couldn&#8217;t doubt genuineness of share transaction merely on basis of statement of third party. MCA instruction on Online Payment. ICAI live seminar on Service Tax. In Detailed : 1.Block assessment can&#8217;t be framed on basis of material collected during &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":[20,647,142],"tags":[566,502,501,572,179,180,561,214,181,194,541,562,560,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/385"}],"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=385"}],"version-history":[{"count":11,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/385\/revisions"}],"predecessor-version":[{"id":3098,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/385\/revisions\/3098"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}