Home Highlights June 2013 Year 2013 This

You may also like:

1. Banks are required to maintain a Statutory Liquidity Ratio (SLR) by purchasing government securities. RBI guidelines categorize securities as Held-to-Maturity (HTM),...

2. Treatment to loss - set-off of loss - As per guidelines issued by the RBI, every NBFC is required to maintain liquid assets including investment in shares, stocks,...

3. Disallowance of loss on sale of Government Securities - permissible business loss or not? - The Tribunal disagreed with the AO's presumption that the securities were not...

4. Capital Gain or business income - surplus on sale of shares and securities - the assessee has maintained distinction between trading assets and nontrading assets and has...

5. The High Court held that the assessee, a banking company, is entitled to exclude interest earned from securities on an accrual basis for income tax purposes. It can...

6. Amortization of premium on investment in government securities - Invest surplus fund in Government Securities as per RBI guidelines – assessee is entitled to claim this...

7. Clarification regarding taxability of supply of securities under Securities Lending Scheme, 1997

8. Approval of Resolution Plan - extinguishment of security interest and the guarantees - Resolution Plan in question has consciously dealt with securities and personal...

9. CIRP process - security deposit and/or intercorporate deposit - Whether this ‘Security Deposit’ and the interest thereon would fall within the ambit of the definition of...

10. The circular issued by the Securities and Exchange Board of India (SEBI) announces the repeal of previous circulars concerning the procedure for dealing with cases...

11. SEBI has issued a circular to provide flexibility to Foreign Portfolio Investors (FPIs) in dealing with their securities post-expiry of their registration. Amendments to...

12. The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

13. RBI issued consolidated guidelines relating to transfer of foreign security by way of sales of a JV or WOS outside India with and without write off

14. Security for gas cylinders received - the security for gas cylinders received by the assessee could not be treated as trading receipt. - HC

15. Penalties, late fees, penal interest, and fines levied by RBI for contravention or violation of laws are for maintaining discipline and deterrence, not consideration for...