It was held that Long-term capital gains on sale of “penny” stocks could not be treated as bogus & unexplained cash credit if the documentation was in order & there was no allegation of manipulation by SEBI or the BSE.
According to the department, the overvalued export was used by the exporter to fraudulently procure DEPB scrips from the Directorate General of Foreign Trade and subsequently these DEPB scrips were sold in the open market and were thereafter used by companies to import goods without payment of duty.
CESTAT Delhi held that penalty u/s. 114 of the Customs Act can be levied only if the goods are held liable to confiscation u/s. 113 of the Customs Act. Here, as the confiscation cannot be sustained, penalty u/s. 114 of the Customs Act cannot also be sustained.
The Ministry of Consumer Affairs is seeking comments on draft rules to amend the Legal Metrology (General) Rules for non-invasive non-automated sphygmomanometers.
India’s Department of Consumer Affairs released draft rules for clinical electrical thermometers for continuous measurement, seeking public comments by August 30, 2025.
This circular from the NSE outlines a new Joint Standard Operating Procedure (SOP) for schemes of arrangement, effective August 1, 2025. It details the process, timelines, and required submissions for applications filed under SEBI regulations.
SEBI circular requires all regulated entities to make their digital platforms accessible to persons with disabilities, as per the Rights of Persons with Disabilities Act, 2016.
The Ministry of Finance has updated customs tariff values for various goods, including edible oils, gold, silver, brass scrap, and areca nuts, effective August 1, 2025.
The Ministry of Finance amends the Customs and Central Excise Settlement Commission Rules, 2015, introducing a new proviso on the termination and compensation of the Chairman, Vice-Chairman, and Members.
IEPFA issues final notice for companies to file Form IEPF-1A with Excel template by Aug 30, 2025, to ensure investor claims are processed correctly.
