Friday, June 12, 2020

Matter remanded back to SEBI for reconsideration amount of disgorgements against appellants: SAT

COMPANY LAW/SEBI : Where SEBI, during investigation in trading of shares of three listed companies concluded that appellant traders had indulged in self trade resulting in unlawful gains to them and passed impugned order restraining all appellants from accessing securities market in any manner for alleged violations of SEBI Act and PFUTP Regulations, however there was considerable discrepancy between profits as calculated by appellants themselves as well as SEBI,

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...