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Updates of the day...

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Updates Of the Day
1.Writ Petition could be allowed if there is procedural lapse by authorities. (Bombay High Court) [TNT India private Limited vs CIT]
2.SEBI has issued caution notice to investors requesting not to invest in schemes offered by entities barred by SEBI from raising money or entities not registered with SEBI.
3.RBI permitted Indian corporates to issue rupee denominated bonds outside India. The matter of taxation of income from off-shore rupee denominated bonds under Income tax Act, 1961 has been considered by the government.
4.Mere license for development of property will not attract capital gain tax liability. (Punjab and Haryana High Court) [Bikramjit Singh Gill vs. CIT]
5.Revised computation sufficient for mistake in currency conversion for computation of exemption under section 10A. (Delhi High Court) [E-Funds International India Private Limited vs CIT]
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