Home Highlights March 2019 Year 2019 This

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1. Broken period interest paid to the sellers of the securities - revenue v/s capital - if the securities were held by the banking company as stock-in-trade of the...

2. Long Term Capital Gains - claim of conversion of agriculture land into stock-in-trade - The assessee was required to disclose such lands as stock in trade in books of...

3. Shares converted into stock-in-trade - Valuation adopted for conversion of investments to stock-in-trade, opening stock and closing stock - where an assessee converts...

4. Disallowance of loss on sale of Government Securities - permissible business loss or not? - The Tribunal disagreed with the AO's presumption that the securities were not...

5. Unexplained deposits in bank account - Amount deposited in the bank account was out of sale of various items as held by the assessee as stock in trade and since the...

6. Receipt of bonus share - investments or stock in trade - original shares were part of stock in trade - bonus shares given by company in proportion to the holding of...

7. Disallowance of brokerage paid on acquisition of investments - whether the expenditure is in the nature of capital expenditure and forms a part of cost of asset - When...

8. Loss on revaluation of security - securities maintained as per RBI Guidelines - only 30% treated as stock in trade - 70% treated as long term asset - HC

9. Deduction from Rental income - Disallowance on account of Security Expenses and Gardening Expenses, respectively as part of annual value under Income from House Property...

10. Levy of GST - Delayed payment of tharges which are overdue from the client towards trading of securities and reimbursed to them - It is purely a deferment of liability...

11. Addition of Interest accrued but not due – accrual of income - broken periods - The contention that interest accrues for broken periods between two consecutive dates...

12. Bad debts - Disallowance of advance/balance written off claimed as deduction - the amount advanced by the assessee company to commission agent, for the purchase of...

13. Addition u/s 56(2)(vii)(b)(i) - difference between the actual purchase consideration of plots of land and market value as per stamp valuation authorities - Assessee has...

14. Modification in Cyber Security and Cyber Resilience framework of Stock Exchanges, Clearing Corporations and Depositories - Circular

15. Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002.