Home Highlights November 2017 Year 2017 This

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1. Purchase/ Sale of Capital Instruments of a listed Indian company on a recognised stock exchange in India by Non-Resident Indian (NRI) or Overseas Citizen of India (OCI)...

2. Purchase/ Sale of capital instruments of an Indian company by a person resident outside India - FEMA - New Regulations

3. Amendment to Regulation 3.1 of FEMA, Mode of Payment and Reporting of Non-Debt Instruments - To facilitate the purchase or subscription of equity shares of Indian...

4. Monitoring of foreign investment limits in listed Indian companies

5. Speculation loss u/s 73 - it is apparent from computation that no part of the business of the assessee company consists of purchase and sale of the shares - Merely...

6. “Vanishing companies” can only be listed companies; so far 161 “vanishing companies” have been traced

7. 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...

8. Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

9. Stock Transfer - merger and amalgamation done under Section 391 and 394 of the Indian Companies Act - In the present case the predecessor Company/transferor Company have...

10. Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

11. Computation of profit - sale of asset after conversion from capital asset to stock-in-trade - Apply the provisions of Section 45(2) of the Act and compute the capital...

12. TDS u/s 195 - software expenses - the arrangement of the assessee company with its AE is of purchase of computer software at agreed price i.e. sale price to the Indian...

13. Validity of reopening of assessment u/s 147 - Additions of sale consideration on sale of equity shares u/s 68 - Assessee has shown that he has earned long term capital...

14. 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...

15. 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...