Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
SEBI's Master Circular consolidates the circulars applicable to Alternative Investment Funds under the AIF Regulations, incorporating provisions issued up to May 31, 2026 and superseding the Master Circular dated May 07, 2024. The circulars listed in Annexure 21 are rescinded to the extent they relate to AIFs, while prior actions, pending applications, and accrued rights, liabilities, penalties, investigations and remedies under the rescinded circulars continue as if those circulars remained in force. Trustees, sponsors or managers must ensure that the Compliance Test Report under para 21.2 covers compliance with all chapters of the Master Circular.
SEBI's Master Circular consolidates the circulars applicable to Alternative Investment Funds under the AIF Regulations, incorporating provisions issued up to May 31, 2026 and superseding the Master Circular dated May 07, 2024. The circulars listed in Annexure 21 are rescinded to the extent they relate to AIFs, while prior actions, pending applications, and accrued rights, liabilities, penalties, investigations and remedies under the rescinded circulars continue as if those circulars remained in force. Trustees, sponsors or managers must ensure that the Compliance Test Report under para 21.2 covers compliance with all chapters of the Master Circular.
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