SEBI notifies amendment of Securities and Exchange Board of India (Stock Brokers) Regulations [Read Notification]
The Securities and Exchange Board of India (SEBI) vide notification no. SEBI/LAD-NRO/GN/2023/140 issued on 24th July 2023 has notified the amendment...
Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal has deleted the disallowance holding that the hedging transactions in non-cleared securities were not illegal. The assessee, Atul C. Vyas had...
![Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Hedging-Transactions-Non-Cleared-Securities-ITAT-Disallowance-TAXSCAN.jpg "Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]")
Private Limited Company and Director are Different Persons: ITAT upholds Addition for Exceeding Limit of Cash Transactions u/s 269SS [Read Order]
Income Tax Appellate Tribunal ( ITAT ) upheld the addition for exceeding the limit of cash transactions under section 269SS of Income Tax Act, 1961 made by the Assessing Officer (AO). The...
![Private Limited Company and Director are Different Persons: ITAT upholds Addition for Exceeding Limit of Cash Transactions u/s 269SS [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Private-Limited-Company-ITAT-Cash-Transactions-Cash-Transactions-Income-tax-tax-taxscan.jpg "Private Limited Company and Director are Different Persons: ITAT upholds Addition for Exceeding Limit of Cash Transactions u/s 269SS [Read Order]")
Satisfactory discharge of burden of proving genuineness of transactions: Bombay HC confirms deletion of disallowance u/s 69C [Read Order]
The Bombay High Court confirmed deletion of disallowance under Section 69C of the Income Tax Act, 1961 on satisfactory discharge of burden of proving genuineness of transactions. The respondent in...
![Satisfactory discharge of burden of proving genuineness of transactions: Bombay HC confirms deletion of disallowance u/s 69C [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Bombay-High-Court-transactions-discharge-disallowance-taxscan.jpg "Satisfactory discharge of burden of proving genuineness of transactions: Bombay HC confirms deletion of disallowance u/s 69C [Read Order]")
Rulings can only be given for Proposed or Ongoing Transactions: AAR rejects application [Read Order]
The Karnataka Bench of the Authority for Advance Rulings (AAR) has recently ruled that a ruling can be given only in relation to a proposed or ongoing transaction, rejecting the application filed by...
![Rulings can only be given for Proposed or Ongoing Transactions: AAR rejects application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Proposed-Transactions-Ongoing-Transactions-AAR-taxscan.jpg "Rulings can only be given for Proposed or Ongoing Transactions: AAR rejects application [Read Order]")
ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]
A Division Bench of the Income Tax Appellate Tribunal (ITAT), Kolkata deleted addition on proof of identity and creditworthiness of shareholders and genuineness of transactions. The assessee, M/s...
![ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Proof-of-Identity-Creditworthiness-of-Shareholders-Genuineness-of-Transactions-Transactions-Taxscan-.jpg "ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]")
LIBOR cannot always be rate at which Intra-Bank Transactions take place: ITAT deletes ALP Adjustment [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted Arm Length Price (ALP) adjustment as London Inter-Bank Offered Rate (LIBOR) cannot always be rate at which intra-bank transactions take...
![LIBOR cannot always be rate at which Intra-Bank Transactions take place: ITAT deletes ALP Adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/LIBOR-rate-at-which-Intra-Bank-Transactions-take-place-ITAT-deletes-ALP-Adjustment-TAXSCAN.jpg "LIBOR cannot always be rate at which Intra-Bank Transactions take place: ITAT deletes ALP Adjustment [Read Order]")