Tuesday, July 28, 2020

Material and price sensitive events/information is to be disclosed even when one is in doubt: SAT

COMPANY LAW/SEBI : Where though Binding Implementation Agreement signed by authorized Executive Director of appellant ICICI Bank with dominant shareholders of Bank of Rajasthan was price sensitive and admittedly material to performance of appellant, but same was disclosed after delay of one trading day, penalty was to be imposed

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

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