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Latest India Tax News 1st November 2016

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  • Latest India Tax News 1st November 2016

    • Compensation paid for damage to environment is allowable. The Hon’ble Kolkata High Court by setting aside the orders of ITAT held that payment was allowable.
    • RBI As announced in the first Bi-Monthly Monetary Policy Statement, 2016-17, it has been decided to introduce Interest Rate Futures based on any rupee denominated money market interest rate or money market instrument on SEBI authorized stock exchanges.
    • NCLT, while exercising the power of rectification under section 254(2), can recall its order in its entirety if it is satisfied that prejudice has resulted to the party which is attributable to the Tribunal’s mistake, error or omission.
    • GST Network to borrow Rs 800 cr from banks to fund GST infra building cost.
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