"20 April 2021" Archive - Page 3

Gain from Sale of Equity share taxable as capital gain for Lack of regularity & isolated instances

Swatiben Anilbhai Shah Vs DCIT (ITAT Ahmedabad)

Swatiben Anilbhai Shah Vs DCIT (ITAT Ahmedabad) The solitary issue for adjudication on merits is whether gains arising on sale of certain quantity of shares of a company, namely, Pyramid Siamira Theatre Ltd. (PSTL) by the assessee in the relevant assessment order is required to be taxed under the head ‘capital gains’ as offered by [&h...

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Each Question Wise Objection Disposal Must In Reopening Proceedings: HC

Raj Arivazhagan Vs ITO (Madras High Court)

Raj Arivazhagan Vs ITO (Madras High Court) In the case on hand, the petitioner had raised a specific objection that the proposal for reopening the assessment is liable to be dropped, since there is no finding that there was escapement of income. It was further contended that for the purpose of carrying on verification exercise, […]...

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Delhi HC extends interim Orders till 16.07.2021 or until further orders

Court On Its Own Motion Vs State (Govt. of NCT of Delhi) (Delhi High Court)

Court On Its Own Motion Vs State (Govt. of NCT of Delhi) (Delhi High Court) Taking suo moto cognizance of the alarming resurgence of Covid-19, under Article 226 & 227 of the Constitution of India, it is hereby ordered that in all matters pending before this court and courts subordinate to this court, wherein such […]...

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Measures to Prevent/Control Covid-19 in Prisons/Correctional Homes

Order No. 17013/17/2020-PR 20/04/2021

It is of utmost importance to follow test-track-treat protocol, which includes aggressive testing for early detection of Covid-19 positive cases, timely isolation and treatment. The prison authorities, in consultation and coordination with state health authorities, may ramp up testing in jails – both at the point of entry as well as reg...

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Futures and Options Taxation

Any income or loss that arises from the trading of Futures and Options is to be treated and considered as business income or business loss. As such transactions in the F&O Market would be treated as Non-Speculative Transactions as per Section 43(5), they would be taxed just like any other business income. The expenses incurred [&helli...

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Posted Under: Income Tax |

Buyback V/s Dividend And Its Taxation

Buyback of shares is when a company repurchases the shares issued by it from the existing shareholders. The company buys back its shares usually at market value or higher. Companies use buy back as a means to return cash to shareholders and regain ownership. Tax on buyback of shares in India is now regulated by […]...

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Posted Under: Income Tax |

ESG factors and risks in banking business

Environmental, Social and Governance (ESG) factors are increasingly driving business decisions across the world. While there has been an emphasis on developing governance framework for a long time now, companies are now incorporating environmental and social factors in their business strategies. Banks, which are part of broader business e...

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Posted Under: Income Tax |

Anti-dumping duty on imports of nylon filament yarn

Notification No. 23/2021-Customs (ADD) [G.S.R. 281(E)] 20/04/2021

Seeks to amend notification No. 50/2018-Customs (ADD) dated 5th October, 2018 imposing anti-dumping duty on imports of nylon filament yarn originated in or exported from Vietnam and European Union, to exclude goods of certain specification from the scope of the anti-dumping duty. Notification No. 23/2021-Customs(ADD), dt. 20.04.2021 GOVER...

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Why to Use an Online Calculator to Plan Your Personal Loan Repayment?

Applying for a personal loan is now simpler than ever. With several financial institutions offering pre-approved loans for both short and long tenors and a wide range of income groups, financial freedom is more accessible than it has ever been. However, it is still imperative that you find the right plan based on your personal […]...

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Posted Under: Income Tax |

Re-classification of Promoters and Promoter Group of Listed Entity

Shareholders in a listed company are classified under two broad categories, i.e. those that belong to the promoter/promoter group and those shareholders who are members of the public with no formal relationship with the promoter/promoter group....

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Posted Under: Income Tax |

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