Daily Archives: January 16, 2016

Short term Capital Loss Brought Forward can be Set off from long term Capital Loss

By | January 16, 2016

IN THE ITAT MUMBAI BENCH ‘G’ GSB Capital Markets Ltd. v. Deputy Commissioner of Income-tax, Range 4(1), Mumbai AMIT SHUKLA, JUDICIAL MEMBER AND RAMIT KOCHAR, ACCOUNTANT MEMBER IT APPEAL NO. 307 (MUM.) OF 2014 [ASSESSMENT YEAR 2010-11] DECEMBER  16, 2015 Ajay R. Singh for the Appellant. Rajesh Ojha for the Respondent. ORDER Ramit Kochar, Accountant… Read More »

Notification No. 13/2016 – Customs (N.T.) for Fixation of Tariff Value of Edible Oil, Brass, Poppy Seed, Areca Nut, Gold and Sliver

By | January 16, 2016

Tariff Notification in respect of Fixation of Tariff Value of Edible Oil, Brass, Poppy Seed, Areca Nut, Gold and Sliver [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION(ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 13/2016 – Customs (N.T.) New Delhi,… Read More »

Notification No.2/2016-Central Excise, increase in rates on Petrol and Diesel

By | January 16, 2016

Seeks to further amend notification No 12/2012-Central Excise dated 17.03.2012 so as to increase the Basic Excise Duty rates on Petrol and Diesel(both unbranded and branded) [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) Notification No.2/2016-Central Excise New Delhi,… Read More »

SEBI reduced Daily Price Limits & Near month Position Limits for Agricultural Commodity Derivatives and Suspension of Forward Segment

By | January 16, 2016

Securities and Exchange Board of India CIRCULAR CIR/CDMRD/DMP/2/2016                                                            January 15, 2016 To, The Managing Directors / Chief Executive Officers National Commodity Derivatives Exchanges Sir / Madam,… Read More »

SEBI Steps for Curbing Volatility in Commodities Derivatives Markets

By | January 16, 2016

Securities and Exchange Board of India PR No. 13/2016 Steps for Curbing Volatility in Commodities Derivatives Markets In accordance with Central government notifications F. No. 1/9/SM/2015 S.O. 2362 (E) and F. No. 1/9/SM/2015 S.O. 2363 (E) dated August 28, 2015, SEBI had commenced regulating the commodity derivatives market under Securities Contracts Regulation Act (SCRA) 1956 with… Read More »

Wealth tax on urban land ,Construction issue discussed by Supreme Court

By | January 16, 2016

whether the land would be excluded from the ‘ urban land ‘ only when building is completely constructed thereupon or it would be covered by the aforesaid clause even if the building activity is started and the building is not yet complete ? The purpose and objective of introducing Section 2(e)(a) in the Act was… Read More »

Stamp duty paid to increase Authorized capital is capital expenditure

By | January 16, 2016

Held We have observed that Hon’ble Supreme Court in the case of Brooke Bond India Ltd. (supra) and Punjab State Industries Development Corpn. Ltd. (supra) has clearly held that these stamp duties/fees to Ministry of Corporate Affairs , GOI paid towards the increase in authorized capital of the company is held to be for expansion… Read More »