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Updates of the Day....

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Updates Of the Day
1.The Central Government and financial institutions suffered a setback when the Supreme Court declined to modify its order restricting Aadhaar Card.
2.MCA has revised the versions of E-forms AOC - 4 (Non-XBRL), MGT- 7, INC - 29 and MGT - 15 w.e.f 8th October, 2015. Only new version of the E-form will be acceptable.
3.Unspent amount of subsidy received from holding company cannot be treated as income. [CIT v Canon India Private Limited) (Delhi High Court).
4.Search & Seizure Proceeding against a person without issue of search warrant is bad in Law. Delhi High Court [CIT v Smt. Priyanka Singhania]
5.CBDT issued Circular No.17 dated 6-10-2015 on Agricultural Land as Finance Act, 2013 amendment for computing distance ‘aerially’ for the purposes of ‘agricultural land’ under section 2(14)(iii)(b) is prospective in nature.
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