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Updates of the day...

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Updates Of the Day
1.SEBI has proposed new regulations for public issue of 'core capital' instruments by banks and for the public issue of Infrastructure Investment Trusts (InviTs).
2.MCA notifies sections related to reporting on fraud by auditor and omnibus approval by Audit Committee of the Companies Amendment Act, 2015 and made applicable from 14.12.2015.
3.CESTAT order to deposit duty after considering prima facie case, undue hardship and interest of revenue is valid. [Advance Netways Marketing Pvt. Ltd. vs. CCE, Honorable Bombay High Court].
4.TDS u/s.194I not deductible on lease premium paid to acquire land on lease with substantial right. [ACIT vs. OBC, Mumbai Bench of ITAT].
5.Free samples of medicines to medical practitioners not covered under gift, no disallowance u/s 37. [ITAT Delhi: Eli Lilly & Co. (India) Pvt. Ltd. vs, ACIT].
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