"12 May 2023" Archive

Investment in units of Mutual Funds in the name of minor through guardian

Circular No. SEBI/HO/IMD/POD-II/CIR/P/2023/0069 12/05/2023

Payment for investment by any mode shall be accepted from the  the bank account of the minor, parent or legal guardian of the minor, or from a joint account of the minor with parent or legal guardian. For existing folios, the AMCs shall insist upon a Change of Pay-out Bank mandate before redemption is processed”...

IBC: IBBI directs IP to undergo pre-registration educational course

Order No. IBBI/DC/166/2023 12/05/2023

DC warns Mr. S. Shivshanker to be more careful in handling pending assignments and he is further directed to undergo pre-registration educational course specified under regulation 5(b) of the IP Regulations from the IPA where he is registered....

Source of cash deposit not satisfactorily explained hence addition u/s 69 sustained

Eswara Reddy Kolli Vs DCIT (ITAT Chennai)

ITAT Chennai held that addition u/s 69 towards unexplained money sustained on failure to explain the source of the cash deposits with necessary evidences....

Process and Documents Required for Obtaining Digital Signature Certificate (DSC)

Discover the process and documents required for obtaining a Digital Signature Certificate (DSC). Understand the significance of DSC in digitally signing documents and ensuring compliance with regulatory authorities. Learn about the essential details such as full name, date of birth, PAN card, Aadhar card, and more, needed for a seamless D...

Posted Under: SEBI |

Amnesty Scheme for one-time settlement of default in export obligation by Advance & EPCG authorization holder

Explore the new Amnesty Scheme under the Foreign Trade Policy 2023, allowing a one-time settlement for default in export obligations by Advance and EPCG authorization holders. Learn about the covered schemes, key highlights, eligibility, benefits, and the procedure for availing this significant relief provided by the Ministry of Commerce ...

Posted Under: SEBI |

Section 54F exemption eligible even if construction of new house starts before sale of original asset

Kapil Kumar Agarwal Vs DCIT (ITAT Delhi)

Kapil Kumar Agarwal Vs DCIT (ITAT Delhi) ITAT held that assessee has purchased a house property i.e. a new asset and is entitled to exemption u/s 54F of the act despite the fact that construction activities of the purchase of the new house has started before the date of sale of the original asset which […]...

SC on clarification filed by Revenue in matter of Abhisar Buildwell P Ltd

PCIT Vs Abhisar Buildwell P. LTD. (Supreme Court of India)

PCIT Vs Abhisar Buildwell P. LTD. (Supreme Court of India) Clarification application file by Revenue on issue of permitting 148 notice dismissed by Supreme Court with liberty  to Revenue to file Review application. Further in case such review application is filed it will be heard in open court . We observe that as we have […]...

What is Jurisprudence?

Explore the meaning of jurisprudence, the study of law. Understand its origin, significance, and branches, including historical jurisprudence, analytical jurisprudence, and ethical jurisprudence. Delve into the principles and development of law throughout history....

Posted Under: SEBI |

How to handle GST Return Scrutiny Notice-ASMT-10?

Learn how to effectively handle a GST return scrutiny notice (ASMT-10). Understand the discrepancies, prepare a comprehensive reply, gather necessary documents, and consider personal hearing if needed. Ensure a smooth and hassle-free scrutiny process with updated GST knowledge and proper cooperation with the department....

Posted Under: SEBI |

Balance sheet and Profit/loss account requirement for loan purpose

In this article, we will explore the significance of balance sheets and profit/loss accounts in loan applications, examining their purpose, key components, and why lenders rely on them to assess borrowers' eligibility....

Posted Under: SEBI |