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Archive: August, 2022

Posts in August, 2022

Extension of validity of Status Certificates issued in FY 2015-16 & 2016-17

August 5, 2022 1728 Views 0 comment Print

Validity of Status Holder Certificates issued in the FY 2015-16 and 2016-17 under provisions of FTP 2015-20 has been extended upto 30.09.2022

SEBI constitutes FPI Advisory Committee for facilitation of investments

August 5, 2022 1080 Views 0 comment Print

SEBI constituted a Standing Committee to facilitate FPI investments & to advise SEBI on policy matters relating to Foreign Portfolio Investors

Framework for restricting trading by DPs by freezing PAN

August 5, 2022 4347 Views 0 comment Print

SEBI issues Framework for restricting trading by Designated Persons (DPs)  by freezing PAN at security level

Repair expenditure disallowed as allegation not negated by assessee

August 5, 2022 789 Views 0 comment Print

Held that repair expenditure of propaganda van, a gifted vehicle, was alleged to be met by the donor. The onus was on assessee to negate the allegation of revenue. However, no such onus was discharged. Disallowance of expenditure justified.

RBI hikes policy repo rate to 5.40 per cent (Read Notifications)

August 5, 2022 891 Views 0 comment Print

RBI increase policy repo rate under Liquidity Adjustment Facility by 50 basis points from 4.90 per cent to 5.40 per cent with immediate effect

Reserve Bank – Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)

August 5, 2022 1365 Views 0 comment Print

‘Credit Information Company’ as defined in the Credit Information Companies (Regulation) Act, 2005, shall also be treated as a ‘Regulated Entity’ for the purpose of the Scheme.

IBBI warns IP to be more careful and vigilant in conducting CIRP

August 5, 2022 696 Views 0 comment Print

DC notes that Mr. Aditya Agrawal should have been more careful and vigilant in conducting the CIRP and should have updated his professional knowledge and kept up with the IBC jurisprudence advanced by the Supreme Court. The DC is also of the considered opinion that the lapse committed by Mr. Aditya Agrawal is relatively minor […]

ITC on perquisites provide by employers

August 5, 2022 6291 Views 0 comment Print

GST Council has clarified ITC-related issues in respect of various services provided by employers to its employees. The services are as follows such as canteen service, health insurance, life insurance, transportation service and concessional travel, etc.

A&C Act: Amendment to Section 34 Application cannot be allowed if it constitutes a fresh challenge

August 5, 2022 9009 Views 0 comment Print

Bombay HC held that Amendment to Section 34 Arbitration Application cannot be allowed if it constitutes a fresh challenge

Relief U/s. 17 of A&C Act cannot be granted merely for Prima Facie Case

August 5, 2022 1662 Views 0 comment Print

Possible extent of claim likely to be awarded cannot be a foregone conclusion. Arbitrator fell in error by exercising Section 17 jurisdiction for securing the amount

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