SEBI amends mutual funds norms to include silver related instruments and real estate assets in Mutual Fund Schemes

The SEBI has amended the Mutual Fund regulations in order to include silver or silver related instruments, and real estate assets in definition of mutual fund. In case of a…

Continue ReadingSEBI amends mutual funds norms to include silver related instruments and real estate assets in Mutual Fund Schemes

Cenvat Credit of common input services if availed only in one unit can’t be held incorrect or illegal: CESTAT

EXCISE/ST/VAT: Even if assessee availed Cenvat Credit in respect of common input service in one unit only; it was optional for assessee to either avail entire credit in said unit…

Continue ReadingCenvat Credit of common input services if availed only in one unit can’t be held incorrect or illegal: CESTAT

Any person holding more than 10% or more equity shares will be deemed as related party w.e.f. April 1, 2023

The SEBI has amended the Listing Obligations and Disclosure Requirements Regulations, 2015 whereby the scope and definition of related party has been extended. The amendment states that any person or…

Continue ReadingAny person holding more than 10% or more equity shares will be deemed as related party w.e.f. April 1, 2023

SEBI specifies norms co-investment under Alternative Investment Funds Regulations, 2021

The market regulator, SEBI has notified the Securities and Exchange Board of India (Alternative Investment Funds) (Fifth Amendment) Regulations, 2021 whereby new clause has been inserted in clause 2 in…

Continue ReadingSEBI specifies norms co-investment under Alternative Investment Funds Regulations, 2021

Disallowed portion of interest exp. forms part of income; eligible for sec. 80P deduction: HC

INCOME TAX : Where revenue disallowed expenditure claimed by assessee-credit co-operative society towards interest paid on deposits received by it from its members, since such disallowed amount became income earned…

Continue ReadingDisallowed portion of interest exp. forms part of income; eligible for sec. 80P deduction: HC

MCA relaxes norms relating to transmission of securities; issues revised Form IEPF-5

The MCA notifies the IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2021. Amendment has been made to Schedule II which prescribes documents to be submitted to authority…

Continue ReadingMCA relaxes norms relating to transmission of securities; issues revised Form IEPF-5

Grasim Industries held abusing its dominance by charging discriminatory prices from customers: CCI

COMPETITION ACT : Where OP being dominant entity in relevant market i.e. market for supply of VSF to spinners, was denying market access to its customers and was also imposing…

Continue ReadingGrasim Industries held abusing its dominance by charging discriminatory prices from customers: CCI