SEBI has received representations from various market participants, requesting for review of the provisions pertaining to EBP platform, in order to address the issues of ‘fastest finger first’ (viz. allotment based on time priority in bidding for issuances with fixed parameters), certain bidders not getting allocations despite having worked on the issuance pre-listing, high ratio of green shoe to base issue size, limits on arrangers placing bids on behalf of clients, etc.
In view of the representations by and consultations with Broker Associations and Depositories, it has been decided to widen the scope of DDPI to include: Mutual Fund transactions being executed on Stock Exchange order entry platforms; and Tendering shares in open offers through Stock Exchange platforms.
Minister asks Chartered Accountants of India to strive to take Indian Chartered Accountancy Firms to the global level Chartered Accountants must always be committed to promoting equitable and inclusive growth: Shri Piyush Goyal Shri Goyal asks more women to take up the profession of Chartered Accountancy Minister urges young CAs to explore paths of entrepreneurship […]
Notice calling for suggestions, views, comments, feedback etc. from stakeholders on draft rules pertaining to Customs Valuation of imported goods in terms of recent amendment in Section 14 of the Customs Act, 1962 vide Section 89 of the Finance Act, 2022 Attention is invited to the recent amendment made in Section 14 of the Customs […]
Instruction No. 26/2022-Customs – Requirement of Health Certificate to be accompanied with the import of certain food consignments – modification of Board Instruction No.18/2022-Customs F. No. 401/66/2022-Cus-III Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) North Block, New Delhi Instruction No. 26/2022-Customs | Dated the 6th October, […]
CBIC notifies Customs Exchange rate for Import & Export wef 7th October, 2022 vide Exchange rate Notification No. 87/2022-Cus (NT) dated 06.10.2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS New Delhi ***** Notification No. 87/2022 – Customs (N.T.) | Dated: 6th October, 2022 In exercise of […]
JCIT Vs Shree Ganesh Construction (ITAT Ahmedabad) It is observed that even though the original receipt for payment of donation of Rs.50,000/- made to Chief Minister Kanya Kelvani Nidhi was not produced by the assessee as the same was lost or misplaced, sufficient evidence was produced by the assessee to support and substantiate its claim […]
DCIT Vs Ferrero India Pvt. Ltd (ITAT Pune) The main contention that was advanced by the assessee in this case before the Tribunal was that the existence of international transaction cannot be inferred by the T.P.O in the absence of any actual transaction and the presumption by the lower authorities that the benefit had endured […]
In other words, the test would be: Does an ATM fulfil the functions of a Computer in the business activity of an assessee? Is it a tool of his trade with which it carries on his business?
Explore Angalakshmi Spinning Mill vs ITO ITAT Chennai case. ITAT allows spare parts replacement as revenue expenditure. Full text of ITAT Chennai order.
