Home Highlights January 2019 Year 2019 This

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1. Derivative on such stock shall be moved to physical settlement in case certain specified conditions are satisfied.

2. The Master Circular for Commodity Derivatives Segment issued by SEBI consolidates circulars up to March 31, 2023. It replaces previous circulars and applies to stock...

3. Shortage in the stock of Cenvat credit availed of raw materials - physical verification of stock - clandestine clearance - Levy of penalty u/s 11AC confirmed - AT

4. The circular revises the eligibility criteria for entry and exit of stocks in the derivatives segment. Key changes include increasing the minimum Median Quarter Sigma...

5. Transactions in derivatives on recognized stock exchange not as deemed speculative - the transaction carried in future and options (derivatives) are outside the purview...

6. Levy of GST - diamonds - e-units - The derivative contracts in e-Units and settlement thereof would be treated as transactions in securities in case it involves only...

7. Penalty u/s 271AAB - undisclosed income - there was no discrepancy found in the physical stock as well as stock recorded in the books of account despite the physical...

8. Excess stock found during survey triggers proceedings u/ss 73/74 of the GST Act, not Section 130. The authority noted excess stock by eye estimation without physical...

9. Provisional attachment of bank account and stock of brass scrap - No discrepancy in the physical stock and stock reflected in register - order of attachment lifted on...

10. Derivative trading loss as business loss - when undisputedly assessee has entered into transaction of derivatives after 01.04.2006 in a recognised stock exchange as per...

11. Addition on account of excess stock - discrepancies in stock records, unaccounted sales - we are satisfied with the documentary evidence that the alleged stock of cotton...

12. Difference and discrepancy in the stock - inflated statement of stock with the bankers - there is no discrepancy in the stock statements as appearing from the physical...

13. Disallowance of set-off loss on derivative trading - can not be held as loss from speculation business, simply because procedural mechanism has taken a long time to...

14. Speculative loss or not - Set off and carry forward of loss arising from derivative transactions in currency segment - In essence, an 'eligible transaction' [as defined...

15. Speculative transactions - set off of the loss - transaction in derivatives on recognized stock exchange as defined under Section 43 (5) (d) of the Income Tax Act, 1961...