Daily Archives: February 8, 2016

Govt notify developing countries list for section 8B of the Customs Tariff Act

By | February 8, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 19/2016 – Customs (N.T.) New Delhi, 5th February, 2016  G.S.R.………….(E).- In pursuance of clause (a) of sub-section (6) of section 8B of the… Read More »

Govt notify Goods Exempt from Custom duty imported into India for display or use at an event specified

By | February 8, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 8/2016 – Customs New Delhi, the 5th February, 2016   G.S.R._____________(E).- In exercise of the powers conferred by sub-section (1) of section 25… Read More »

Omission to Produce auditor’s certificate is mistake u/s 154

By | February 8, 2016

Issue The return of income filed by the assessee for the assessment year 1997-98 was processed under Section 143(1)(a) on 27.3.1998 and it was found at that time that the appellant had not produced the auditor’s certificate. Therefore, the claim of the appellant under Section 80HHC of the Act was disallowed by the Assessing Officer.… Read More »

e-Bedrolls launched by Indian Railways

By | February 8, 2016

Shri Suresh Prabhu, launched Personalised take away bedrolls service in Indian Railways Shri Suresh Prabhakar Prabhu, Union Minister of Railways during a grand function held at East Tambaram Railway Colony Ground in Tambaram, Chennai yesterday i.e.  07.02.2016 (Sunday) launched various Railways project/schemes which also included ‘Personalised take away bedrolls scheme’             Initially, the supply would be… Read More »

Justice Dhirendra Hiralal Waghela Transfered from Orissa to Bombay High Court

By | February 8, 2016

Shri Justice Dhirendra Hiralal Waghela Transfered from Orissa High Court to Bombay High Court In exercise of the powers conferred by clause (1) of article 222 of the Constitution of India, the President, after consultation with the Chief Justice of India, is pleased to transfer Shri Justice Dhirendra Hiralal Waghela, Chief Justice of the Orissa… Read More »

No Clubbing of Income if Trust created for minor after Divorce

By | February 8, 2016

Issue Whether the trust created by the assessee for the benefit of his minor daughter in obedience to the terms of decree of divorce passed against him under the provisions of Parsis Marriage & Divorce Act, 1936, in a suit brought against him by his wife, was for adequate consideration and, therefore, would not fall within the scope of section… Read More »

Stridhan of Divorced wife can not be Seized by Income tax Deptt

By | February 8, 2016

Issue The petitioner and respondent No.2 were earlier married. They have later on opted for divorce. The residential premise of the respondent No.2, ex-husband of the petitioner, came to be searched by the Income Tax Department on or around 25.11.1988. In the above process, certain ornaments and valuables were seized. Such ornaments included gold jewellery… Read More »

RBI cancels Certificate of Registration of 4 NBFCs

By | February 8, 2016

Date : Feb 08, 2016 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company’s Name Address of Registered Office Certificate of… Read More »

ICAI specify Manner of Signing of Certificates by Chartered Accountants

By | February 8, 2016

Source : Institute of Chartered Accountants of India Announcement Manner of Signing of Certificates by Chartered Accountants 1 The Council of the Institute of Chartered Accountants of India (ICAI), at its 349th meeting held on 17th and 18th January, 2016 considered an issue relating to manner of signing of certificates by Chartered Accountants. The Council… Read More »