In the case of subscription in the primary market (initial public offers), the above mentioned entities shall hold their investments for a minimum period of 30 days. The holding period would commence when the securities are actually allotted.
11. The powers of the Tribunal emanates from the provision of section 254 of the Act and not from any other provisions. The provisions of section 132 of the Act considered by the Hon’ble Rajasthan High Court only specifies the circumstances under which search warrant can be issued by the competent authority. Such provisions have nothing to do with the powers of the Tribunal
India Cine Agencies Vs CIT, Madras Income tax – Sec 32AB benefits – assessee converts jumbo rolls of photographic films into small rolls of various sizes – claims Sec 32AB, Sec 80HH and Sec 80I benefits – AO says it is neither manufacture nor production
Explore the Supreme Court judgment on Corporation Bank vs. Saraswati Abharansala regarding excess Sales Tax collection. Learn how the retrospective effect of a notification led to a rate reduction, compelling the state to refund the excess amount. Discover the legal implications, the court’s interpretation, and the directive for the state to refund the tax with interest. Stay informed about key legal precedents and the principles of statutory construction.
Haleema Zubair, Tropical Traders Vs. State of Kerala (Supreme Court of India)- The business activities relating to transaction of M/s. Poseidon Food Company unless otherwise proved cannot bring the appellant within the purview of definition of `dealer’. If she was not a dealer, the professional fees earned by her would not be exigible to payment of sales tax; only because the appellant happens to be the proprietress of M/s. Tropical Traders also.
