Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
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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