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...
Payments by a trust to related concerns do not automatically attract disallowance under Section 13(1)(c); the statutory test is whether application of income or property results in a direct or indirect benefit to persons specified in Section 13(3), and benefit must be established. Higher profit margins or payments alone are insufficient without comparative or evidential material showing payments were excessive, lacked commercial expediency, or constituted diversion of trust income. Where earlier assessment years with identical facts accepted such payments and there is no change in facts or law, the rule of consistency supports maintaining that view and precludes reopening the transactions under Section 13(1)(c).
Payments by a trust to related concerns do not automatically attract disallowance under Section 13(1)(c); the statutory test is whether application of income or property results in a direct or indirect benefit to persons specified in Section 13(3), and benefit must be established. Higher profit margins or payments alone are insufficient without comparative or evidential material showing payments were excessive, lacked commercial expediency, or constituted diversion of trust income. Where earlier assessment years with identical facts accepted such payments and there is no change in facts or law, the rule of consistency supports maintaining that view and precludes reopening the transactions under Section 13(1)(c).
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