Daily digest for Gupta Chandan & Associates, on May 19, 2022

posted: "COMPANY LAW/SEBI : Where appellant-trader was acting as a front entity of company 'V' for purchase of shares of its closely connected entity i.e., A while in possession of unpublished price sensitive information, appellant was guilty of violating SEBI Act" Gupta Chandan & Associates Appellant trader was guilty of insider trading as he possessed UPSI while purchasing shares of a connected entity May 19 COMPANY LAW/SEBI : Where appellant-trader was acting as a front entity of company 'V' for purchase of shares of its closely connected entity i.e., A while in possession of unpublished price sensitive information, appellant was guilty of violating SEBI Act and PIT regulations and, thus, order passed by SEBI restraining it from accessing securities market […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/appellant-trader-was-guilty-of-insider-trading-as-he-possessed-upsi-while-purchasing-shares-of-a-connected-entity/ Powered by Jetpack

posted: "SEBI has notified that pursuant to the merger of the Forward Market Commission with the SEBI, all the associations recognised under the Forward Contracts (Regulation) Act, 1952 were deemed to be recognised stock exchanges under the Securities Contracts (R" Gupta Chandan & Associates SEBI withdraws recognition granted to the 'Indian Commodity Exchange Limited' May 19 SEBI has notified that pursuant to the merger of the Forward Market Commission with the SEBI, all the associations recognised under the Forward Contracts (Regulation) Act, 1952 were deemed to be recognised stock exchanges under the Securities Contracts (Regulation) Act, 1956. Therefore, SEBI withdrawn the recognition granted to the Indian Commodity Exchange Limited as it […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/sebi-withdraws-recognition-granted-to-the-indian-commodity-exchange-limited/ Powered by Jetpack

posted: "SEBI vide. Notification dated 25.04.2022 amended schedule VII of SEBI (LODR), 2015 for transmission of securities whereby various documents including 'Legal Heirship Certificate or equivalent certificate' was allowed as one of the acceptable document for " Gupta Chandan & Associates SEBI prescribes standardized formats of documents for transmission of securities May 19 SEBI vide. Notification dated 25.04.2022 amended schedule VII of SEBI (LODR), 2015 for transmission of securities whereby various documents including 'Legal Heirship Certificate or equivalent certificate' was allowed as one of the acceptable document for transmission of securities. Now, the SEBI has prescribed the standardized formats of documents which are required to be furnished at […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/sebi-prescribes-standardized-formats-of-documents-for-transmission-of-securities/ Powered by Jetpack

posted: "The market regulator SEBI, on being satisfied that it would be in the interest of the trade, securities market, and also in the public interest, has granted renewal of recognition to 'Multi Commodity Exchange Clearing Corporation Limited' for three years " Gupta Chandan & Associates SEBI grants renewal of recognition to 'Multi Commodity Exchange Clearing Corporation Limited' for 3 years May 19 The market regulator SEBI, on being satisfied that it would be in the interest of the trade, securities market, and also in the public interest, has granted renewal of recognition to 'Multi Commodity Exchange Clearing Corporation Limited' for three years commencing on the 31st day of July 2022 and ending on the 30th day of […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/sebi-grants-renewal-of-recognition-to-multi-commodity-exchange-clearing-corporation-limited-for-3-years/ Powered by Jetpack

posted: "INCOME TAX : Where transaction between assessee and 'S' was clearly evident from documentary evidence produced by assessee, Assessing Officer without bringing any adverse evidence on record, simply on assumptions and presumptions was not justified in hold" Gupta Chandan & Associates Doc. produced to establish genuineness of transaction can't be doubted without bringing any adverse evidence: HC May 19 INCOME TAX : Where transaction between assessee and 'S' was clearly evident from documentary evidence produced by assessee, Assessing Officer without bringing any adverse evidence on record, simply on assumptions and presumptions was not justified in holding that transaction of assessee with 'S' was bogus; Commissioner (Appeals) rightly deleted addition under section 68 made to […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/doc-produced-to-establish-genuineness-of-transaction-cant-be-doubted-without-bringing-any-adverse-evidence-hc/ Powered by Jetpack

posted: "INCOME TAX : Where assessee had raised professional bills along with service tax for every month for rendering professional services to a company and company had paid professional charges after deducting applicable TDS as per provisions of section 194J, m" Gupta Chandan & Associates Professional fees can't be treated as salary payment just because it was paid to managing director of Co.: ITAT May 19 INCOME TAX : Where assessee had raised professional bills along with service tax for every month for rendering professional services to a company and company had paid professional charges after deducting applicable TDS as per provisions of section 194J, merely because assessee was a managing director of that company, said professional fee could not be […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/professional-fees-cant-be-treated-as-salary-payment-just-because-it-was-paid-to-managing-director-of-co-itat/ Powered by Jetpack