Co. entitled to claim loss incurred on sale of bonds received as sales consideration for execution of project: HC

INCOME TAX: Where assessee received RBI bond instead of cash as a consideration for project undertaken in Iraq as sub-contractor and incurred loss on sale of bond, since assessee is…

Continue ReadingCo. entitled to claim loss incurred on sale of bonds received as sales consideration for execution of project: HC

SEBI reduces trading lot size from 100 units to 1 units in REITs and InvITs

The SEBI has notified the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 and the Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations,…

Continue ReadingSEBI reduces trading lot size from 100 units to 1 units in REITs and InvITs

Intra-day NAV to be applicable for ETF transactions by investors directly with AMCs: SEBI

The Securities and Exchange Board of India has clarified that that there is a provision of ‘intra-day NAV’ for transactions in units of ETFs by authorized participants and large investors…

Continue ReadingIntra-day NAV to be applicable for ETF transactions by investors directly with AMCs: SEBI

Now Govt. may exclude Listed PSUs from ambit of Securities Contracts (Regulation) Rules, 1957

The Ministry of Finance has notified Securities Contracts (Regulation) (Second Amendment) Rules, 2021. The amendment has made in the Rule 19A whereby the Central Government has been empowered to exempt…

Continue ReadingNow Govt. may exclude Listed PSUs from ambit of Securities Contracts (Regulation) Rules, 1957

SEBI allows AMCs to offer instant access facility in ‘Overnight Mutual fund Schemes’: SEBI

To promote the development and to regulate the securities market, the Markets regulator has allowed asset management companies to offer instant access facility in overnight mutual fund schemes. Earlier, Asset…

Continue ReadingSEBI allows AMCs to offer instant access facility in ‘Overnight Mutual fund Schemes’: SEBI

No ST leviable on liquidated damages recovered from suppliers for not adhering to time-limits mentioned in contract

EXCISE/ST/VAT : No service tax is leviable on liquidated damages recovered by assessee for not adhering to time-limits mentioned in contract by its suppliersEXCISE/ST/VAT : No service tax is leviable…

Continue ReadingNo ST leviable on liquidated damages recovered from suppliers for not adhering to time-limits mentioned in contract

No abuse of dominance by Stonex India Ltd. in relevant market of distribution of Laminam sheets in India:CCI

COMPETITION LAW : Where informant purchased Laminam sheets from OP and alleged that OP being sole distributor of Laminam sheets in India was abusing its dominant position in market qua…

Continue ReadingNo abuse of dominance by Stonex India Ltd. in relevant market of distribution of Laminam sheets in India:CCI

No reassessment if disputed transaction was already considered in block assessment as well in sec. 263 revision: HC

INCOME TAX : Where assessee fully disclosed all material facts related to purchase and lease back transactions of machineries and block assessment order holding depreciation claimed on said machineries as…

Continue ReadingNo reassessment if disputed transaction was already considered in block assessment as well in sec. 263 revision: HC