Prior to the omission, it read as under: Considering the fact that there are diverse judgments, and the quantum as envisaged by the department, it is necessary that Supreme Court intervenes. The amended section further provides that the section would apply irrespective of fact, whether the income is disclosed by the assessee in its return of income under sections 68 to 69D or the Assessing Officer makes such an addition.
Pawar  Taxman Bombay In this case, assessee declared capital gains on sale of shares of two companies. Specific policies have been established regarding who may communicate information to the press and the financial analyst community.
For issuers it provides a market place in which they can raise finance fairly and easily. It is conflict of interest to serve as a Director of any company that competes with the Company.
In due course, a number of brokers, proprietor firms and partnership firms have converted themselves into corporates. May please refer point no. Such conduct shall be fair and transparent and be perceived to be as such by third parties. Such a shifting of onus is a continuous process in the evaluation of evidence.
She is a regular marathon runner, having run 6 half marathons. Even in State ex rel.
Gopal Doss it was held by the Madras HC that when an agent is authorized to negotiate and complete a sale for a specified price within a particular time, it gives him an authority to enter into a contract for sale, whether for movable or immovable property.
Employees shall not exploit for their own personal gain, opportunities discovered through the use of corporate property, information or position unless the opportunity is disclosed fully in writing to the Managing Director of the Company and the Managing Director agrees and gives in writing to such employees.
If the Securities exchange is not able to achieve the prescribed turnover of Rs Crores on continuous basis or does not apply for voluntary surrender of recognition and exit before the expiry of two years from the date of this Circular, SEBI shall proceed with compulsory de-recognition and exit of such Securities exchanges, in terms of the conditions as may be specified by SEBI.
Most of the stock exchanges in India are organized as mutuals which is considered beneficial in terms of tax benefits and matters of compliance. The Taxation Laws Amendment and Miscellaneous Provisions Act, inserted with effect from 10th September, section E of the Act, according to which, in any prosecution for any offence under this Act which requires culpable mental state on the part of the accused, the Court shall presume the existence of such mental state.
Price rigging refers to manipulating the prices of securities with the main objective of inflating or depressing the market price of securities. The High Court held that the transactions in shares were rightly held to be genuine and addition made by Assessing Officer was rightly deleted.
Even today, the stock broker continues to command an immense power in the stock exchanges. This may at the most lead to a suspicion but the same cannot be treated as conclusive to draw any adverse inference against the assessees to the effect that the transactions are not genuine.
Holding or subsidiary of a company does not have to comply with section 1 unless the holding or subsidiary itself fulfills the criteria.
The stock exchanges differ from country to country in eligibility requirements and in the degree to which the govt.
We expect all of our employees, agents, contractors and consultants to adhere to these rules in carrying out their duties for the Company. They are basically intermediaries in the secondary market and are middlemen between the investors and stock exchanges.
The objectives of SEBI are: In the UK, the company secretary may be qualified by virtue of examination and membership of the Institute of Chartered Secretaries and Administrators ICSAwhich is the main qualification specifically for company secretaries.
It is expected that company secretaries of publicly quoted companies will be professionally qualified through ICSA, one of the chartered professional bodies in the accountancy profession, or have appropriate training and experience through another body.
Any Director of the Company shall not derive benefit or assist other to derive benefit by giving investment advice from the access to and possession of information about the Company, not in public domain.
If any such related party transaction is conducted, the same should be disclosed to the Board of Directors of the Company. Therefore, this Code of Conduct and Ethics is subject to modification. The broker has a number of rights that he can claim over his clients.
Anil has a varied cross-functional and geographical experience. Since the assessing officer had not shown that the transactions of the assessee have been claimed to be accommodation entries by Shri Mukesh Choksi, he could not have taken adverse view of the matter on the basis of generalized statement.
The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in elleandrblog.com was established in and given statutory powers on 30 January through the SEBI Act, Protective functions of SEBI As clear from the name, SEBI’s protective function is to protect investors’ interest and provide them security by taking following actions: Manipulation of security prices to inflate or depress the market prices (price rigging) and thereby cheating investors is prohibited by SEBI.
Formats for Mutual Funds as on May 11, FORMATS Placed below are all the formats prescribed by SEBI, standardizing disclosure by the AMC to unitholders as well as reporting to SEBI. These topics are overlapping and dynamic in nature. Have a basic understanding on Seventh Schedule– Division of Powers between the Union and the States in terms of Union List, State List and the Concurrent List.; Issues with the powers and functions of State and the Central government like – dealing with State Subjects – Agriculture, Law & Order, Statehood issues etc.
*Give details of implementing agency: 6. In case the company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof, the company shall provide the reasons for not spending the amount in its Board report.
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