Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 Highlights - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Income Tax
  • Direct Taxes
  • Benami Property
  • Central GST Laws
  • SGST - State GST Laws
  • Customs
  • FTP - Foreign Trade Policy
  • SEZ - Special Economic Zone
  • FEMA - Foreign Exchange Management
  • Companies Law
  • SEBI - Securities & Exchange Board of India
  • IBC - Insolvency and Bankruptcy
  • Law of Competition
  • PMLA - Money-Laundering
  • Indian Laws
  • Bill / Finance Bills
  • Wealth Tax
  • Service Tax
  • Central Excise
  • VAT / Sales Tax
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Penalty for concealed capital gains upheld where exemption claim lacked bona fide basis and return showed inaccurate particulars.
    Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
    Valuation Officer reference cannot be used for reopening assessment when books are not rejected and no defects are found.
    Working capital adjustment claims need authenticated supporting documents; fresh consideration ordered after proper compliance and hearing.
    Penny stock capital gains treated as accommodation entries where human probabilities showed an unexplained income conversion scheme.
    TDS credit belongs only to the person taxed on the related income; wrong PAN deduction cannot be claimed by a commission agent.
    Clerical loss mismatch and encroachment compensation accepted as cost of improvement in capital gains computation.
    Telescoping of undisclosed on-money receipts against demonetisation cash deposits allowed partly, with normal tax rates and section 68 relief.
    Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
    Speaking order on reopening objections is mandatory; reassessment annulled when the objections were not disposed of first.
    Pecuniary jurisdiction under CBDT instruction invalidated notice issued by officer lacking competence, quashing the assessment.
    Fair market rent and related-party salary claims were accepted where evidence showed reasonable rent and genuine business services.
    Recall of ex parte orders requires sufficient cause for absence; repeated non-appearance and delayed additional material defeated recall.
    Non-speaking provisional release order quashed for failure to address customs objections and BIS certificate concerns.
    Refund of withdrawn provisional anti-dumping duty cannot be denied on unjust enrichment grounds under the Anti-Dumping Rules.
    Essential character of multifunctional wheelchairs governed classification and exemption despite an added toileting feature.
    Unjust enrichment bars refund of export duty where realised proceeds exceed declared FOB value and passing on is not disproved.
    Misdeclaration of imported goods justified rejection of declared value, reassessment on similar goods data, and upholding confiscation and penalty.
    IGCR compliance and concessional duty benefit fail where excess import is not established and declared end use is proved.
    Animal feed premix classification turns on specific use and functional character, placing poultry premixes under Heading 2309.
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Highlights
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries

Highlights

Back

All Highlights

Showing Results for :
Reset Filters
No Records Found

Highlights

Back

All Highlights

whatsapp Join Channel
Showing Results for : Reset Filters

Payment due for the services rendered to the unitholders prior...

Distributors cannot claim expenses for services post-winding up notice under Regulation 39(3)(b) in mutual fund schemes.

Contents
Summary
Note

Note

-

Bookmark

Print

Print

SEBI August 17, 2022 Case Laws SC
Payment due for the services rendered to the unitholders prior to the winding up - Even if a distributor renders some services to the unitholders after publication of the notice under Regulation 39(3)(b), it would not entitle him to claim an amount from the asset management company. The Circular dated 22nd October 2018 cannot override the Regulations. The Circular does not intend to do so. It has been issued to bring about transparency in expenses, reduce portfolio churning and mis-selling in mutual fund schemes. The intent behind specifying total expense ratio and the performance disclosure for mutual funds is to bring greater transparency in expenses and to not confer any right on the mutual fund distributors to claim expenses under clause (b) to Regulation 41(2), which pertains to the procedure and manner of winding up. - SC

Topics

Acts Income Tax