MoF

Finance Ministry tells Sebi to frame a policy on recovery proceedings
In a bid to tighten the noose around market offenders, the government has directed the Securities and Exchange Board of India (Sebi) to frame a policy on recovery proceedings.
 21-Sep-2018  

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 SEBI

Sebi allows NRIs, resident Indians, OCIs to invest in India via FPI route
The Securities and Exchange Board of India (Sebi) diluted its controversial circular issued on April 10, which laid down the know-your-client (KYC) and ownership norms for foreign portfolio investors
 21-Sep-2018  

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 World Bank

World Bank endorses 5-yr plan to support Indias key development priorities
A day after Prime Minister Narendra Modi said India will become a $5 trillion economy by 2022, the World Bank board endorsed an ambitious five-year Country Partnership Framework (CPF) for India,
 21-Sep-2018  

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 BSE

BSE, NSE to conduct mock trading in commodity derivatives on Saturday
Leading stock exchanges BSE and NSE will conduct mock trading in commodity derivatives segments on Saturday, in order to familiarise brokers with the trading systems.
 21-Sep-2018  

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 GST

Jaitley proposes additional cess under GST to help flood-hit Kerala
Finance Minister Arun Jaitley has proposed additional cess on select commodities under GST to raise funds to help Kerala tide over the damages caused due to floods, a state minister said.
 21-Sep-2018  

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 SEBI

In relief for FPIs, Sebi announces revised KYC norms, eligibility process
Providing relief to foreign portfolio investors, Sebi came out with revised Know Your client (KYC) norms as well as eligibility conditions for such entities.
 21-Sep-2018  

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 RBI

RBI announces norms for joint priority sector lending by banks, NBFCs
The Reserve Bank announced guidelines for co-origination of priority sector loans by banks and NBFCs with a view to enhancing flow of funds to the sector at competitive rates.
 21-Sep-2018  

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 World Bank

India gets World Banks support for transition to high-middle income nation
The World Bank has endorsed an ambitious five-year framework for India under which it is expected to receive $25-30 billion in financial support for its transition from a low-middle income to a high-m
 21-Sep-2018  

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Latest Book

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Kalanithi Maran v. UOI

  Section 276 B   Direct Taxes

Where revenue could not prove that assessee was involved in day-to-day management of the company, the assessee cannot be presented for defaults committed by company.…

Pr. CIT v. Vijay Infrastructure Ltd.

  Section 80-IA   Direct Taxes

Where the claim of deduction under section 80-IA remained to be lodged through revised return under section 139(1), there was no bar to claim the deduction in the return filed under section…

S.K. Traders v. Asstt. State Tax Officer

  Section 129 of KGST Act, 2017   Service Tax

Seizure of goods --Goods detained pending adjudicationRelease of ----Where goods were detained even though adjudication in this respect was pending, matter was remanded with a direction to complete…

CIT v. Shri Tikam Khandelwal & Ors.

  Section 32   Direct Taxes

Where assessee had not claimed any depreciation in its original return on taxis owned by him and had also not shown income from business of running taxi on hire, thereafter he was precluded to…

ACIT v. Shri Sameer Sudhakar Dighe

  Section 56(vii)   Direct Taxes

Where assessee, who was a retired international cricket player, had earned income by playing in a benefit match arranged by BCCI, the income arising from such benefit match was capital receipt…

RK Overseas v. UOI & Ors

  Section 129 of UPGST Act, 2017   Service Tax

Seizure of goods--Opportunity of being heard not given to the assessee before disregarding the evidences furnished before revenue officialsRelease of ----Where revenue had seized the goods alleging inter-…

Dy. CIT v. Esteem Textiles P. Ltd.

  Section 153C   Direct Taxes

Where AO had framed assessment under section 153C against assessee on basis of a list unearthed pursuant to a search and seizure operation at the premises of a third party, containing name of…

Shell India Markets (P) Ltd. v. Dy. CIT & Vice-Versa

  Section 37(1)   Direct Taxes

AO was wrong in coming to the conclusion that if the period of lease agreement is more than 12 years, then, irrespective of way of payment of such lease rentals, i.e., lump-sum or periodical, it…

Moon Beverages Ltd. v. ACIT

  Section 153A   Direct Taxes

Since no assessment was pending on the date of search and addition had been made on basis of post-search enquiries and statements recorded under section 132(4) on various persons, therefore,…

ITO v. J.R. Construction

  Section 80-IB(10)   Direct Taxes

Where assessee utilized only a small part of eligilble FSI remaining part was sold, then assessee was not entitled deduction under section 80IB. In respect profits assessee for sale of unutilized…

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