Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
This circular outlines the framework for monitoring shareholding norms of Market Infrastructure Institutions (MIIs) like stock exchanges, clearing corporations, and depositories. Key aspects include appointing a Designated Depository (DD) for monitoring shareholding limits, disclosing shareholding patterns quarterly on websites as per LODR formats, monitoring breaches of limits like 5%, 15%, 49% by persons resident outside India, trading members' aggregate 49% limit, clearing corporations' requirement of 51% held by stock exchanges. The DD to freeze excess shareholding, disable e-voting rights, transfer corporate benefits to investor protection funds upon breaches. MIIs to ensure shareholders are fit and proper, make investors aware of eligibility criteria, submit quarterly reports on non-fit shareholders. Divestment of excess stakes through special window for listed MIIs. Provisions effective 90 days from issuance, superseding previous circulars.
This circular outlines the framework for monitoring shareholding norms of Market Infrastructure Institutions (MIIs) like stock exchanges, clearing corporations, and depositories. Key aspects include appointing a Designated Depository (DD) for monitoring shareholding limits, disclosing shareholding patterns quarterly on websites as per LODR formats, monitoring breaches of limits like 5%, 15%, 49% by persons resident outside India, trading members' aggregate 49% limit, clearing corporations' requirement of 51% held by stock exchanges. The DD to freeze excess shareholding, disable e-voting rights, transfer corporate benefits to investor protection funds upon breaches. MIIs to ensure shareholders are fit and proper, make investors aware of eligibility criteria, submit quarterly reports on non-fit shareholders. Divestment of excess stakes through special window for listed MIIs. Provisions effective 90 days from issuance, superseding previous circulars.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
