Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Authorised Dealers are prohibited from offering non-deliverable derivative contracts involving INR to resident or non-resident users, while deliverable foreign exchange derivative contracts may continue only for hedging purposes and where the user does not hold offsetting non-deliverable positions. Users may not rebook any cancelled INR-linked foreign exchange derivative contract, whether deliverable or non-deliverable, after the date of these instructions. Authorised Dealers are also barred from entering into any foreign exchange derivative contract involving INR with related parties, with related party meaning aligned to Ind AS 24 or IAS 24. The directions take immediate effect and remain operative until further review.
Authorised Dealers are prohibited from offering non-deliverable derivative contracts involving INR to resident or non-resident users, while deliverable foreign exchange derivative contracts may continue only for hedging purposes and where the user does not hold offsetting non-deliverable positions. Users may not rebook any cancelled INR-linked foreign exchange derivative contract, whether deliverable or non-deliverable, after the date of these instructions. Authorised Dealers are also barred from entering into any foreign exchange derivative contract involving INR with related parties, with related party meaning aligned to Ind AS 24 or IAS 24. The directions take immediate effect and remain operative until further review.
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