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1.STT on sale of options is increased from 0.017% to 0.05%. Finance Bill,2016.
2.Arrears of rent or unrealized rent to be taxed in the year of receipt u/s 25A. Finance Bill,2016.
3.In order to promote more Domestic Start Up Companies (eligible start ups) the tax rate for such companies is reduced to 25% + surcharge & cess subject to certain restrictions. Finance Bill, 2016.
4.Sec.206AA : Higher TDS not valid where benefit of DTAA available.[M/s. Wipro Ltd. vs. ITO (ITAT Bangalore)]
5.Sec. 271AAA : No penalty where demand paid before penalty order.[DCIT vs. M/s. Tapadia & Kasliwal Associates (ITAT Pune)]
6.Client codes modification permissible having no shifting of profits. [ITO vs. M/s Pat Commodity Services P. Ltd. (ITAT Mumbai)]
7.Sec. 263 : Revision valid where no enquiry/verification of provisions.[M/s Crompton Greaves Ltd. vs. CIT (ITAT Mumbai)]

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