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Archive: 17 January 2023

Posts in 17 January 2023

SEBI (Stock Brokers) (Amendment) Regulations, 2023

January 17, 2023 3474 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2023.

SEBI (Change In Control In Intermediaries) (Amendment) Regulations, 2023

January 17, 2023 2460 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Change in Control in Intermediaries) (Amendment) Regulations, 2023.

DGFT revises existing ‘Stock and Sale’ policy of Foreign Trade Policy (FTP) 2015-20

January 17, 2023 960 Views 0 comment Print

The existing ‘Stock and Sale’ policy under Paragraph 2.79A of the Handbook of Procedures (HBP) of the Foreign Trade Policy (FTP) 2015-20 has been amended to revise the applicability of the policy for export from the Indian subsidiary of foreign company (applicant exporter) to its foreign parent/another subsidiary of foreign parent company and allow repeat […]

Consultation paper on ‘Blocking of Funds for Trading in Secondary Market’

January 17, 2023 1203 Views 0 comment Print

In the last couple of years, Indian securities market has seen tremendous growth, both in terms of volumes as well as in terms of number of participants. This increasing participation with increase of new investors in securities market also puts greater onus on SEBI to make markets safer for its participants, with a special focus on retail participants.

Reassessment invalid if no fresh tangible material made available by petitioner

January 17, 2023 2832 Views 0 comment Print

Ball Aerosol Packaging India Private Limited Vs ACIT (Gujarat High Court) In this case what emerges from the record is that no fresh tangible material distinct from what was made available by the petitioner during the assessment proceedings is emerging and specific queries which have been raised with regard to issues now raised have already […]

Launch of electronic version of Supreme Court of Report (e-SCR) by SC of India

January 17, 2023 1914 Views 0 comment Print

As directed by Hon’ble the Chief Justice, this is to convey for benefit of all the stakeholders that, Hon’ble the Supreme Court of India has launched a digital version of judgments of the Supreme Court of India as reported in ‘Supreme Court Reports’.

Denial of benefit under SVLDRS stating that department decided to file appeal is unjustified

January 17, 2023 1698 Views 0 comment Print

Jharkhand High Court held that benefit under SVLDRS scheme cannot be denied by the designated committee on the reason that department has decided to file an appeal against the OIO.

Addition of difference of share valued and valuation as per IT rules sustained as onus of proof not discharged

January 17, 2023 942 Views 0 comment Print

ITAT Delhi held that addition of difference between the share valued by the company and value determined as per IT Rules sustained as the assessee failed to discharge his onus of proof.

Non-appearance of supplier cannot be reason for treating purchases as unexplained expenditure

January 17, 2023 2436 Views 0 comment Print

Bombay High Court held that purchases cannot be treated as unexplained expenditure (i.e. fictitious purchases) merely because suppliers have not appeared before AO or CIT(A).

Issuance of search warrant without recording ‘reasons to believe’ is bad in law

January 17, 2023 1665 Views 0 comment Print

Telangana High Court held that issuance of search warrant without recording the ‘reasons to believe’ is against the provisions of section 17 of the Prevention of Money Laundering Act (PMLA), 2002 and accordingly the same is liable to be set aside.

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