Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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SEBI issued a circular prescribing comprehensive norms for internal audit mechanisms and audit committee composition for Market Infrastructure Institutions (MIIs). Key requirements include mandatory annual internal audits by independent audit firms, direct reporting to the Audit Committee, and strict governance standards. The Audit Committee must exclude executive directors, with auditors and key management personnel having hearing rights but no voting privileges. The provisions become effective 90 days from issuance, mandating MIIs to implement systematic internal control and oversight mechanisms to enhance institutional transparency, risk management, and regulatory compliance.
SEBI issued a circular prescribing comprehensive norms for internal audit mechanisms and audit committee composition for Market Infrastructure Institutions (MIIs). Key requirements include mandatory annual internal audits by independent audit firms, direct reporting to the Audit Committee, and strict governance standards. The Audit Committee must exclude executive directors, with auditors and key management personnel having hearing rights but no voting privileges. The provisions become effective 90 days from issuance, mandating MIIs to implement systematic internal control and oversight mechanisms to enhance institutional transparency, risk management, and regulatory compliance.
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