Home Highlights June 2022 Year 2022 This

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1. Unexplained credits u/s. 68 - Bogus LTCG - Penny stock purchases - Nothing on record to suggest that the shares were never with the assessee. On the contrary, the shares...

2. Addition u/s 68 - cash credit - assessee being a share broker - All the equity shares so purchased first came in the Demat account of the assessee broker and then has...

3. Expulsion against the appellant, from the membership of the National Stock Exchange of India Limited - Schedule­ II of the SEBI (Stock Brokers and Sub­ Brokers)...

4. The High Court dismissed the appeal filed u/s 260A, holding that no substantial question of law arises. The Assessing Officer had rejected the assessee's books of...

5. SEBI issued a circular mandating direct payout of securities to client demat accounts for operational efficiency and risk reduction. The circular, effective from October...

6. Addition towards incorrect accounting of stock - maintaining stock for others - while accepting that the assessee is maintaining the stock of material on behalf of...

7. The Securities and Exchange Board of India (SEBI) issued the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2024, effective upon...

8. Levy of service tax - banking and other financial services - Demat/ Depository charges collected from sub brokers - stock broker service - Transaction/ administrative...

9. The circular mandates stock brokers to establish institutional mechanisms for preventing and detecting fraud or market abuse, as per Chapter IVA of the Securities and...

10. Unexplained deposits in bank account - Amount deposited in the bank account was out of sale of various items as held by the assessee as stock in trade and since the...

11. AO failed to conduct proper inquiry regarding alleged bogus long term capital gain by not examining bankers, brokers, Demat agencies involved in transactions,...

12. Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002.

13. Stock broker which requires multiple registrations to operate on more than one stock exchange(s) or a single registration will suffice for all the stock exchanges -...

14. Circular mandates qualified stock brokers to provide facility of trading supported by blocked amount in secondary market using UPI block mechanism or 3-in-1 trading...

15. Applicant stock broker sought bail in case involving creation of fake Demat accounts and siphoning off money from dormant shareholder accounts. Court held despite...