Category Archives: Income Tax Judgments

Govt removes prohibition on export of Onions WEF 15.03.2020

By | March 4, 2020

The Export of all varieties of Onions, as described above, has been made ‘Free’ without’ any condition of Letter of Credit (LC) and Minimum Export Price (MEP), with effect from 15th March, 2020. Accordingly, the Notification No. 46/2015-20 related to export of Krishnapuram Onions also stands withdrawn with effect from 15th March, 2020. Government of India Ministry… Read More »

DGFT requests Urad license holders to complete their import by 30.04.2020

By | March 4, 2020

All license holders for Urad are requested by DGFT to complete their import by 30.04.2020. No request for further extension will be entertained by DGFT. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notice No. 54/2019-20 New Delhi, Dated 3rd March, 2020 To RA’s of DGFT Customs Commissionerates… Read More »

SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2020

By | March 4, 2020

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 02nd March, 2020 SECURITIES AND EXCHANGE BOARD OF INDIA (INFRASTRUCTURE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2020 No. SEBI/LAD-NRO/GN/2020/05─ In exercise of the powers conferred under section 30 read with sections 11 and 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby… Read More »

SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2020

By | March 4, 2020

PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 02nd March, 2020 SECURITIES AND EXCHANGE BOARD OF INDIA (REAL ESTATE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2020 No. SEBI/LAD-NRO/GN/2020/06─ In exercise of the powers conferred under section 30 read with sections 11 and 12 of the Securities and Exchange Board of India Act, 1992 (15… Read More »

Existing recognized entities in IFSC can apply for IA registration without forming separate company or LLP

By | March 4, 2020

Securities and Exchange Board of India CIRCULAR SEBI/HO/IMD/DF1/CIR/P/2020/31 February 28, 2020 All Investment Advisers Sir / Madam Subject: Operating Guidelines for Investment Advisers in International Financial Services Centre (IFSC) – Clarifications 1. SEBI, vide circular SEBI/HO/IMD/DF1/CIR/P/2020/04 dated January 9, 2020 issued Operating Guidelines for Investment Advisers in International Financial Services Centre. 2. Based on the representation received… Read More »

Norms of Regaining Matched Book for Commodity Derivatives Segment revised

By | March 4, 2020

Securities and Exchange Board of India CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2020/32 March 03, 2020 To, The Managing Directors / Chief Executive Officers, All Clearing Corporations having Commodity Derivatives Segment Sir / Madam, Sub: Review of Norms regarding Regaining Matched Book for Commodity Derivatives Segment 1. SEBI vide Circular SEBI/HO/CDMRD/DRMP/CIR/P/2016/77 dated September 01, 2016, inter alia, prescribed norms to… Read More »

MCA clarifies on prosecutions for defaults committed by a company

By | March 4, 2020

General Circular No. 1/2020 F.No. 16/1/2020- Legal Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R.P. Road, New Delhi Dated: 2nd March, 2020 To, All Regional Directors, All Registrars of Companies, All Official Liquidators. Subject: Clarification on prosecutions filed or internal adjudication proceedings initiated against Independent Directors, non- promoters and… Read More »

Banking Regulation (Amendment) Bill, 2020

By | March 4, 2020

AS INTRODUCED IN LOK SABHA on 03/03/2020 Bill No. 56 of 2020 THE BANKING REGULATION (AMENDMENT) BILL, 2020 A BILL further to amend the Banking Regulation Act, 1949. BE it enacted by Parliament in the Seventy-first Year of the Republic of India as follows:— 1. Short title and commencement. (1) This Act may be called… Read More »

No Section 12A registration denial if objects were charitable & activities were genuine

By | March 4, 2020

Shri Dhar Sabha Vs CIT – Exemption) (ITAT Amritsar) ITA No. 53/ASR/2017 08/01/2020 FULL TEXT OF THE ITAT JUDGEMENT On account of difference of opinion between the Ld. Accountant Member and Ld. Judicial Member of the ITAT, Amritsar Bench, this matter has been referred to me by the Hon’ble President ITAT for consideration and disposal… Read More »

Belated Service Tax payment allowable on actual payment basis

By | March 4, 2020

Wyzmindz Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore) ITA No. 3417/Bang/2018 30/01/2020 2014-2015 FULL TEXT OF THE ITAT JUDGEMENT This appeal filed by the assessee is directed against the order of the CIT(A), dated 25.10.2018. The relevant assessment year is 2014-2015. 2. This is the second round of this appeal before the Tribunal. In the… Read More »