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1.Mutual Funds to trace owner of unclaimed redemption & dividend amounts. Circular No. SEBI/HO/IMD/DF2/CIR/P/2016/37 -(25/02/2016)
2.Single Window Project-Problems in clearance of Ex-Bond Bills of entry in online clearance facility.F.No.450/147/2015-CUS-IV -(26/02/2016)
3.MVAT: Changes in automation processes & other procedures. Trade Circular No. 7T of 2016 -(25/02/2016)
4.CBDT Mechanism to Identify of Duplicate PANs. ITBA-PAN Instruction No. 3 - (24/02/2016)
5.Reopening on incoherent reasons not valid u/s 147. [Sabharwal Properties Industries Pvt. Ltd. vs. ITO (Delhi High Court)].
6.Expenses not generating capital asset are revenue in nature. [CIT vs. M/s Manganese Ore India Limited (Bombay High Court)].
7.Business set up expenses deductible despite of no business income. [Multi Act Realty Enterprises Pvt. Ltd vs. ACIT (ITAT Mumbai)].
8.Extension of due date to file returns in form GE-II for 1st three quarters of F.Y.2015-16 to 07.03.2016. Notification no. F3 (619)/POLICY/VAT/2016/1496-1506.

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