No SLP against HC’s ruling if disputed issue was settled by assessee under Vivad se Vishwas Act: SC

INCOME TAX : Where disputes between parties regarding taxability of surplus arising from sale of shares and securities had already been settled under Direct Tax Vivad Se Vishwas Act, 2020…

Continue ReadingNo SLP against HC’s ruling if disputed issue was settled by assessee under Vivad se Vishwas Act: SC

Minutes – preparation, contents, recording, maintenance, an entry in minute’s book and signing – An Insight view

Minutes mean a record of the proceedings of a meeting, containing a fair and correct summary of the proceedings of the meeting. The minutes should spell out as to why,…

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Order passed by CIT(E) denying sec. 12A registration without considering details filed by society is invalid: ITAT

INCOME TAX : Where order of Commissioner (Exemption) refusing grant of registration under section 12AA was passed without considering details filed by assessee society in compliance to show cause notice,…

Continue ReadingOrder passed by CIT(E) denying sec. 12A registration without considering details filed by society is invalid: ITAT

Ministry of Finance declares “Electronic Gold Receipt” as securities under SCRA, 1956

The Ministry of Finance, declares “Electronic Gold Receipt” as securities under SCRA act 1956. “Electronic Gold Receipt” means an electronic receipt issued on the basis of deposit of underlying physical…

Continue ReadingMinistry of Finance declares “Electronic Gold Receipt” as securities under SCRA, 1956

MOF asserts bullion spot delivery contract and bullion depository receipt as securities

The Ministry of Finance, declares bullion spot delivery contract and bullion depository receipt financial products, as securities, in respect of issuance and trading of such securities in an International Financial…

Continue ReadingMOF asserts bullion spot delivery contract and bullion depository receipt as securities

Ministry of Finance declares “Electronic Gold Receipt” as securities under SCRA act 1956

The Ministry of Finance, declares “Electronic Gold Receipt” as securities under SCRA act 1956. “Electronic Gold Receipt” means an electronic receipt issued on the basis of deposit of underlying physical…

Continue ReadingMinistry of Finance declares “Electronic Gold Receipt” as securities under SCRA act 1956

IFSCA grants extension to India International Clearing Corporation Limited in respect of contracts in securities

The International Financial Services Centres Authority (IFSCA), grants in the public interest renewal of recognition to India International Clearing Corporation (IFSC) Limited. This renewal is valid for one year, commencing…

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HC set asides reassessment order passed without speaking order and dealing with objections raised by assessee

INCOME TAX : Where Assessing Officer passed a reassessment order making addition to assessee's income by treating loans received by it as bogus without dealing with objections raised by assessee…

Continue ReadingHC set asides reassessment order passed without speaking order and dealing with objections raised by assessee