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...
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SEBI mandates Investment Advisers (IAs) to incorporate standardized Most Important Terms and Conditions (MITC) into client agreements. IAs must accept only advisory fees, cannot guarantee returns, and are prohibited from offering assured return schemes. Fee caps apply: Rs 1,51,000 annually (fixed fee) or 2.5% of Assets under Advice for individual/HUF clients. Advance fees limited to two quarters with proportionate refund on early termination. IAs must conduct risk profiling, provide direct plans, and avoid conflicts of interest. Group entities cannot offer distribution services. Clients retain trading authority - IAs cannot execute trades without explicit consent. Implementation required by June 30, 2025 for existing clients, immediate for new agreements. Grievance resolution follows three-tier mechanism: IA, SEBI SCORES, and Smart ODR portal.
SEBI mandates Investment Advisers (IAs) to incorporate standardized Most Important Terms and Conditions (MITC) into client agreements. IAs must accept only advisory fees, cannot guarantee returns, and are prohibited from offering assured return schemes. Fee caps apply: Rs 1,51,000 annually (fixed fee) or 2.5% of Assets under Advice for individual/HUF clients. Advance fees limited to two quarters with proportionate refund on early termination. IAs must conduct risk profiling, provide direct plans, and avoid conflicts of interest. Group entities cannot offer distribution services. Clients retain trading authority - IAs cannot execute trades without explicit consent. Implementation required by June 30, 2025 for existing clients, immediate for new agreements. Grievance resolution follows three-tier mechanism: IA, SEBI SCORES, and Smart ODR portal.
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