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Amendment to SEBI Circulars on Monitoring of Foreign Investment limits in listed Indian companies

May 17, 2018 822 Views 0 comment Print

SEBI vide Circular No. IMD/FPIC/CIR/P/2018/61 dated April 5, 2018 introduced a new system for Monitoring of Foreign Investment limits in listed Indian companies and prescribed guidelines w.r.t the necessary infrastructure, data to be provided by listed Indian companies and other related matters.

Anti-dumping duty on imports of Ceramic Rollers from China

May 17, 2018 2376 Views 0 comment Print

Seeks to impose definitive anti-dumping duty on imports of Ceramic Rollers, originating in or exported from People’s Republic of China vide Notification No. 27/2018-Customs (ADD) dated: 17th May, 2018

Section 147 Approval to reopen with mere words “Yes. I am satisfied” not valid

May 17, 2018 2913 Views 0 comment Print

On the facts and circumstances of the case and in law the learned CIT (A) as erred in deleting the addition of Rs.1,04,50,0001- made u/s 68 of the Income Tax Act, 1961 treating the credit in the books of the assessee as unexplained shown as receipt of share application money.

SC refuses to stay oath ceremony of BJP’s BS Yeddyurappa, says final hearing after perusing letter given to Karnataka governor

May 17, 2018 1143 Views 0 comment Print

The petitioners have filed this petition challenging the validity of Communication No.GS 41 GOB 2018 dated 16th May, 2018, addressed by the Governor of Karnataka to Shri B.S. Yeddyurappa (respondent No.3 herein) inviting him to form the government and be sworn in as the Chief Minister of the State of Karnataka.

Basel III Framework on Liquidity Standards – NSFR – Final Guidelines

May 17, 2018 2559 Views 0 comment Print

The Net Stable Funding Ratio (NSFR) and Liquidity Coverage Ratio (LCR) are significant components of the Basel III reforms. The LCR guidelines which promote short term resilience of a bank’s liquidity profile have been issued vide circular DBOD.BP.BC.No.120/21.04.098/2013-14 dated June 9, 2014.

Methodology for pricing of non-traded and thinly traded non convertible debt securities

May 16, 2018 1155 Views 0 comment Print

To solicit the comments/views from public on Consultation paper for determining uniform methodology for pricing of non-traded and thinly traded non convertible debt securities

Cabinet approves signing & ratifying agreement with Brunei Darussalam for exchange of information

May 16, 2018 498 Views 0 comment Print

Cabinet approves signing and ratification of Agreement between India and Brunei Darussalam for the Exchange of Information and Assistance in Collection with respect to Taxes

Clarification on Import of Sugar from Pakistan

May 16, 2018 744 Views 0 comment Print

It is clarified that in FY 2018-19 (Till 14.5.2018), import of sugar from Pakistan has been just 1908 MT for a value of USD 0.657 million. In 2017-18, there was an import of 13,110 MT for a value of USD 4.68 million.

Exposure Draft Accounting Standard (AS) 109 Financial Instruments

May 16, 2018 2607 Views 0 comment Print

Exposure Draft Accounting Standard (AS) 109 Financial Instruments- Last date for the comments: June 30, 2018. Issued by Accounting Standards Board, The Institute of Chartered Accountants of India

HC appreciate CIT for graciously accepting mistake of his department

May 16, 2018 1101 Views 0 comment Print

This Petition under Article 226 of the Constitution of India, filed by the Senior Citizen of 82 years of age. This Petition, challenges the orders dated 22nd February, 2012 and 4th October, 2017 passed by the Assessing Officer, rejecting the Petitioner’s application for rectification under Section 154 of the Income Tax Act, 1961 (the Act).

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