Wednesday, 30 September 2015

CBDT Extends Due Date For Filing ROI ONLY For Assessess In P&H And Gujarat Subject To Outcome Of Appeal In Supreme Court



The Central Board of Direct Taxes, in compliance to the orders of Hon’ble Punjab and Haryana High Court dated 28.09.2015 in case of Vishal Garg & Ors. vs. Union of India & Anr.; CWP 19770-205 and order of Hon’ble Gujarat High Court dated 29.09 .2015 in case of All Gujarat Federation of Tax Consultants vs. CBDT; Special Civil Application No. 15075 of 2015 and in exercise of powers conferred under section 119 of the Income-tax Act , 1961 (‘Act’), hereby orders that the returns of income due to be E-filed by 30th September, 2015 may be filed by 31st October, 2015 in cases of Income-tax assessees of the State(s) of Punjab and Haryana and Union Territory of Chandigarh and the State of Gujarat. This order shall be subject to the outcome of any further appeal/SLP which the CBDT may file against the said judgment

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Interest on Foreign Currency Loan & Corresponding Forex Loss for Strategic Share Acquisition Held Deductible as Revenue Expenditure

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