Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Amendment revises Core Settlement Guarantee Fund coverage for the commodity derivatives segment to require clearing corporations to calculate credit exposure for standardized stress tests based on the simultaneous default of at least three clearing members (and their associates) causing highest credit exposure, replacing the prior two-member scenario and related provision. The circular also adds a provision permitting SEBI to grant case-by-case exemptions or relaxations from SGF requirements after considering market conditions and adequacy of risk management, and it takes immediate effect.
Amendment revises Core Settlement Guarantee Fund coverage for the commodity derivatives segment to require clearing corporations to calculate credit exposure for standardized stress tests based on the simultaneous default of at least three clearing members (and their associates) causing highest credit exposure, replacing the prior two-member scenario and related provision. The circular also adds a provision permitting SEBI to grant case-by-case exemptions or relaxations from SGF requirements after considering market conditions and adequacy of risk management, and it takes immediate effect.
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