(1) This Ordinance may be called the Banning of Unregulated Deposit Schemes Ordinance, 2019. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall come into force at once.
In the backdrop of several highlighted instances of suspected leakage of unpublished price sensitive information (UPSI) and suspected trades on the basis of such information by persons privy to such information SEBI has issued the SEBI (Prohibition of Insider Trading) Amendment Regulations, 2018 on 31st December, 2018 and the amendments will take effect from 1st […]
National Company Law Appellate Tribunal concluded that the National Company Law Tribunal (NCLT) is not a ‘Court’ or a ‘Tribunal’ and hence cannot decide legality of a foreign degree. NCLAT held that deciding the legality or illegality of a foreign degree is outside the jurisdiction of NCLT.
Provisions of section 269SS was not applicable to the loan transaction between husband and wife because there was no relationship of the depositor or a creditor and no interest of parties were involved.
Assessee-American School of Bombay Education Trust was eligible for income tax exemption u/s. 10(22) as assessee had reasonable cause and justified the expenses claimed in the Income and Expenditure statement filed along with the return of income.
It was held after the accrual of consideration, the capital gain was liable to be assessed in the hands of assessee and income from short term capital gain/long term capital gain was only liable to tax when it accrued to assessee
Receipts from sale of software cannot be treated as ‘royalty’ under the Double Taxation Avoidance Agreement (DTAA) between India and Ireland as payment had been made by assessee for use of copyrighted material rather than for the use of copyright in the computer software programme.
Non-charging of interest on the loan amount given by lending company to its director could not be a perquisite as no remuneration or salary in the capacity of the director had been drawn from the lending company nor any interest expenditure was shown in its profit and loss account.
Reassessment order passed by AO without issuing notice under section 143(2) was invalid as it is mandatory obligation of AO to serve notice by assigning reasons therein with regard to his belief of escaped tax liability before making reassessment of any escaped income.
THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament 21St February, 2019 Dear Professional Colleague Subject: Facilitation, Coordination and Knowledge Support by ICSI – Request for issuance of clarification for MSME Form I – Further update The Institute of Company Secretaries of India (ICSI) had […]
