Thursday, January 7, 2021

HC upholds RBI's action in cancelling certificate of registration of NBFC for not achieving required Net owned found

FEMA, BANKING amp; INSURANCE : Where petitioner, a NBFC company, failed to achieve Net Owned Fund (NOF) as required by RBI even after two years, RBI was justified in cancelling certificate of registration (CoR) of petitioner-company

from www.taxmann.com Latest Case Laws https://ift.tt/398L2Bh
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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...