NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Revocation of a customs broker licence and forfeiture of security deposit for alleged breaches of regulations 10(a), 10(d), 10(e), 10(f) and 10(n) of CBLR, 2018 turned on whether the broker failed core due diligence and advisory obligations. The charge under regulation 10(a) failed because the authorization was on record and its authenticity was undisputed, so later non-contact with the signatory could not invalidate it. The charges under regulations 10(f) and 10(n) failed as no specific special procedure was shown for the goods and stipulated online verification had been undertaken. Only regulation 10(d) was sustained for failure to advise the client appropriately; consequently, revocation and forfeiture were set aside as disproportionate, while a monetary penalty was upheld. - CESTAT
Revocation of a customs broker licence and forfeiture of security deposit for alleged breaches of regulations 10(a), 10(d), 10(e), 10(f) and 10(n) of CBLR, 2018 turned on whether the broker failed core due diligence and advisory obligations. The charge under regulation 10(a) failed because the authorization was on record and its authenticity was undisputed, so later non-contact with the signatory could not invalidate it. The charges under regulations 10(f) and 10(n) failed as no specific special procedure was shown for the goods and stipulated online verification had been undertaken. Only regulation 10(d) was sustained for failure to advise the client appropriately; consequently, revocation and forfeiture were set aside as disproportionate, while a monetary penalty was upheld. - CESTAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
