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Nicai Update 01/12/2015

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  • Nicai Update 01/12/2015

    Section 143(1) intimation is not an assessment and no question of change of opinion. [DCIT vs. Zuari Estate Development & Investment Co Ltd (Supreme Court)].

    Disallowance u/s 69C not sustainable where all purchases recorded in books of account accepted by AO. (ITAT Delhi held In the case of ACIT vs. Command Detective & Securities Pvt. Ltd.)

    Relaxation of additional fees and extension of last date in filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) upto 30.12.2015.

    RBI permits FPI to acquire NCDs/bonds, which are under default. Circular No.31.

    CBEC issued systems alert for monitoring realization of export proceeds. Notification No. 609/59/2012.
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