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Updates of the day...

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Updates Of the Day
1.Central Board of Excise and Customs issued Notification No. 135/2015-CUSTOMS (N. T.) Dated 30.11.2015.
2.RBI has reviewed the guidelines for Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds and has decided to permit FPI to acquire NCDs/bonds, which are under default.
3.RBI keeps repo rate unchanged at 6.75% in monetary policy review.
4.SEBI approves proposal to initiate public consultation process for exit opportunity to dissenting shareholders if variation in terms of contracts of prospectus.
5.Service tax not applicable on distributors of lottery tickets issued by state government and charge created by Finance Act, 2015 is unconstitutional. [Sikkim High Court in the case of Future Gaming and Hotel Services Private Limited].
6.Re-opening u/s 148 based on of revisiting of existing material is bad in law. [In Mohan Jhangiani vs ACIT, Kolkata Tribunal].
7.Receipts on account of acquisition and processing of seismic data shall be taxed u/s. 44BB.[ADIT, International Taxation, vs. M/s. Fugro Geoteam AS (ITAT Delhi)].
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