Home Highlights July 2013 Year 2013 This

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1. Unexplained credits u/s. 68 - Bogus LTCG - Penny stock purchases - Nothing on record to suggest that the shares were never with the assessee. On the contrary, the shares...

2. Deemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56 (2)(vii)(C) - asset that has been transferred in this transaction...

3. Treatment of Long Term Capital Gains as undisclosed income - if the shares were of some fictitious company which was not listed in the Bombay Stock Exchange/National...

4. Accommodation entries - if the shares were of some fictitious company which was not listed in the Bombay Stock Exchange/National Stock Exchange, the shares could never...

5. Amendment to bye-laws of recognised stock exchanges with respect to non-compliance of certain listing conditions and adopting Standard Operating Procedure for suspension...

6. Profit from sale of shares - LTCG or STCG - Benefit of Indexation - the STT is to be paid only if the shares were sold in the stock exchange and since the assessee has...

7. Requirements with respect to the listing of securities on a recognised stock exchange - Rule 19 of the SECURITIES CONTRACTS (REGULATION) RULES, 1957 - as amended

8. Purchase/ Sale of capital instruments of a listed Indian company on a recognised stock exchange in India by Foreign Portfolio Investors - FEMA - New Regulations

9. Valuation of gifted shares - Explanation to Rule 2(9) of Part A, Schedule III of the W.T. Act. The certificate from the concerned stock exchange is only to state whether...

10. Revision u/s 263 - STCG on alleged Penny Stock - sale and purchase of shares listed on the BSE through registered share broker at rates of stock exchange - AO had...

11. Loss from derivative transactions in Commodity Futures and Options - speculative loss OR not - CBDT, on 22nd May 2009, recognizing MCX as recognized Stock Exchange for...

12. Revision u/s 263 - Penny stock purchases - penny stock SOP guidelines have been issued by CBDT only in respect of listed scrips. - The scrip in question is not listed in...

13. Stock broker which requires multiple registrations to operate on more than one stock exchange(s) or a single registration will suffice for all the stock exchanges -...

14. Disallowance of loss on sale of shares being stock in trade - The transaction in question, since was not related to the business activity of the assessee, therefore, the...

15. Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 - Amendment in various rules.