Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2024, effective from May 27, 2024, introduce several key changes. Notably, subordinate units are defined and excluded from the calculation of outstanding units (Reg. 2). Regulation 4 mandates only one class of units with equal voting and distribution rights, and allows unitholders with at least 10% of units to nominate a director, subject to recusal provisions. Regulation 12 excludes subordinate units from minimum unitholding requirements. Regulation 14 prohibits public fund-raising if subordinate units are outstanding. Chapter IVA outlines the framework for issuing subordinate units, including issuance conditions, transfer restrictions, and reclassification criteria. Regulation 22 and 23 require separate disclosure of unitholding patterns for ordinary and subordinate units.
The Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2024, effective from May 27, 2024, introduce several key changes. Notably, subordinate units are defined and excluded from the calculation of outstanding units (Reg. 2). Regulation 4 mandates only one class of units with equal voting and distribution rights, and allows unitholders with at least 10% of units to nominate a director, subject to recusal provisions. Regulation 12 excludes subordinate units from minimum unitholding requirements. Regulation 14 prohibits public fund-raising if subordinate units are outstanding. Chapter IVA outlines the framework for issuing subordinate units, including issuance conditions, transfer restrictions, and reclassification criteria. Regulation 22 and 23 require separate disclosure of unitholding patterns for ordinary and subordinate units.
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