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www.caonline.in News... 
1. MCA has released Limited Liability Partnership (Amendment) Rules, 2016 vide Notification which shall come into force on the date of their publication in the official Gazette.
2. Clarification regarding attaining prescribed Age of 60 years/80 years on 31st March itself, in case of Senior/Very Senior Citizens whose date of birth falls on 1st April, for purposes of Income-tax Act,1961. [Circular No. 28/2016-IT].
3. Mere Non Completion / Registration cannot be the reason for denying benefit U/s 54. [ Rajeev B. Shah v. ITO (ITAT Mumbai)].
4. It is date on which option for conversion of debentures into shares is exercised that open offer obligation gets triggered under the Regulations. [VICTOR FERNANDES Vs SEBI [2016] 133 CLA 1 (SAT)].
5. Subsidy by way of refund of excise duty and interest for setting up a new industrial undertaking is a capital receipt and not taxable as income. [CIT vs. Shree Balaji Alloys (SC)].

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