SEBI Seeks Public Comments on Consultation Paper On Institutional Mechanism For Asset Management Companies For Deterrence Of Possible Market Abuse And Fraudulent Transactions (SEBI) has released a consultation paper seeking public comments on the proposal for an institutional mechanism to deter market abuse and fraudulent transactions by Asset Management Companies (AMCs). The objective is to […]
Insolvency Professional found guilty of misrepresentation and entering into unauthorized agreements by IBBI Disciplinary Committee The Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI) has found Mr. Kairav Anil Trivedi, an Insolvency Professional, guilty of misrepresentation and entering into unauthorized agreements. The committee found that Mr. Trivedi misrepresented the confirmation of his […]
Insolvency and Bankruptcy Board of India (IBBI) Disciplinary Committee has cleared Mr. Ganga Ram Agarwal, an Insolvency Professional, of allegations made against him. The allegations pertained to his failure to represent the interests of a corporate debtor in ongoing cases before the Debt Recovery Tribunal (DRT). After considering Mr. Agarwal’s submissions and the relevant provisions […]
SEBI Provides Informal Guidance to SpiceJet on Issuance of Preferential Equity Shares for Outstanding Lease Liabilities -The Securities and Exchange Board of India (SEBI) has issued an interpretive letter to SpiceJet Limited, a public limited company, regarding the issuance of preferential equity shares to aircraft lessors in order to restructure outstanding lease liabilities. SEBI clarified […]
CBIC amend Australia FTA notification to make changes in tariff preference given to Coking Coal and Raw Cotton arising out of Finance Act, 2023 vide Notification No. 38/2023-Customs, dated May 23, 2023. Ministry of Finance in India has issued Notification No. 38/2023-Customs, dated May 23, 2023, to amend the existing notification related to the Australia […]
(xvi) Village Dahej, Taluka Vagra, Distt, Bharuch for unloading of imported goods and loading of export goods Notification No. 38/2023-Customs (N.T.), Dated : 23.05.2023
SEBI) has issued a Circular No. SEBI/HO/MRD/MRD-POD-1/P/CIR /2023/78) regarding the revision of computation of Core Settlement Guarantee Fund (Core SGF) in the Commodity Derivatives Segment. The circular revises the guidelines provided in previous circulars related to the minimum required corpus of core SGF and the contribution to core SGF by recognized Clearing Corporations and Stock […]
1. Sometimes IRPs may fail to check duplicate IRN from de-dup system for technical reasons. Under this circumstance, it is possible for tax payers to register the same document/invoice at different IRPs. Whenever the de-duplication system comes back to live, only one of the IRP will be able to successfully register the IRN. All other […]
SEBI Consultation Paper on the proposal to review Qualified Institutional Buyer status of Alternative Investment Funds, Venture Capital Funds and Foreign Venture Capital Investors discusses the proposal to review the Qualified Institutional Buyer (QIB) status of Alternative Investment Funds (AIFs), Venture Capital Funds (VCFs), and Foreign Venture Capital Investors (FVCIs) registered under various regulations of […]
I have heard of Powers of CIT(A) which is the first appellate authority and the same are contained in Section 251 which provides that the CIT(A) can confirm, reduce, enhance or annul the assessment and he may also confirm, cancel, enhance or to reduce the penalty.
