This notification addresses whether statutory development authorities qualify for income-tax exemption under section 10(46). The key takeaway is that specified non-commercial income is exempt, even retrospectively, when statutory conditions are fulfilled.
Appeals arising from searches, requisitions, and surveys are now mapped to designated appellate officers. The key takeaway is clearer jurisdictional alignment for complex cases.
The government extended the existing anti-dumping duty on specified glass wool imports. The key takeaway is continued trade protection during the review period.
The ROC held that depositing interim dividend in a current account instead of a separate account violates section 123(4). Monetary penalties were imposed despite subsequent compliance.
The authority ruled that absence of a loan does not waive compliance obligations. Failure to intimate satisfaction of charge attracted mandatory penalties.
Regulatory authorities held that claiming compliance with accounting standards without actual adherence or explanation violates Section 134. Companies and directors can face fixed penalties even without mala fide intent.
The adjudicating authority held that delayed appointment of a woman director constitutes a continuing default warranting financial penalties.
The ROC held that failure to appoint a woman director within the prescribed period violates section 149(1). Monetary penalties were imposed despite later rectification of the default.
The appellate authority dismissed the appeal as it was filed beyond the prescribed limitation period. The key takeaway is that delayed filings under section 454 are not maintainable.
By substituting outdated terms across regulations and schedules, SEBI has clarified the nomenclature for registrars. The amendment focuses on uniform drafting rather than introducing new obligations.
