CBDT Extends Due Date For Filing ROI ONLY For Assessess In P&H And Gujarat Subject To Outcome Of Appeal In Supreme Court

The Central Board of Direct Taxes, in compliance to the orders of Hon’ble Punjab and Haryana High Court dated 28.09.2015 in case of Vishal Garg & Ors. vs. Union of India & Anr.; CWP 19770-205 and order of Hon’ble Gujarat High Court dated 29.09 .2015 in case of All Gujarat Federation of Tax Consultants vs. CBDT; Special Civil Application No. 15075 of 2015 and in exercise of powers conferred under section 119 of the Income-tax Act , 1961 (‘Act’), hereby orders that the returns of income due to be E-filed by 30th September, 2015 may be filed by 31st October, 2015 in cases of Income-tax assessees of the State(s) of Punjab and Haryana and Union Territory of Chandigarh and the State of Gujarat. This order shall be subject to the outcome of any further appeal/SLP which the CBDT may file against the said judgment 

The Update of extension can be reviewed at -http://www.incometaxindia.gov.in/Pag…/departmental-news.aspx

UPDATES:

1. CIT duly empowered to decline request for waiver of interest u/s. 234C of the Income Tax Act – [The Fertilizers and Chemicals Travancore Ltd. vs. DCIT (Kerala High Court)]

2. Refund of excess salary which was granted in earlier years is deductible because the assessee is under legal obligation to repay the amount. Ahmadabad Tribunal -Vrajeshwari Parikh.

3. State governments not competent to levy VAT on MRP - High Court of Patna- Mapra Laboratories Pvt. Ltd. vs. CV.

4. The Employees Provident Fund Organisation (EPFO) increased the maximum amount assured under its deposit linked insurance to Rs.6 lakh.

5. Reserve Bank of India relaxed norms for banks to grant certain loans to their chief executives and directors.

6. Finance Minister unveils guidelines of 'Gold Monetization Scheme' and 'Gold Bond Scheme'.

7. The office of Regional Director, North, MCA working from Ground Floor, A-14, PDIL Bhawan, Sector-1, NOIDA has been shifted to B-2 Wing, 2nd Floor, Paryavaran Bhawan, CGO Complex, New Delhi-110003 w.e.f. 15.09.2015.

Shining Stars of ICA