Sum paid for copyright in a film for term more than that given in Copyright Act excludes it from ter

IT/ILT : Consideration for perpetual transfer for 99 yrs of copyrights in film is not "royalty"

RBI asks banks to mark NPAs to credit card account dues of which have remained unpaid beyond 90 days

BANKING : Prudential norms on income recognition, asset classification and provisioning pertaining to advances - Credit Card Accounts

RBI asks banks to mark NPAs to credit card account due of which have remained unpaid beyond 90 days

BANKING : Prudential norms on income recognition, asset classification and provisioning pertaining to advances - Credit Card Accounts

Objects of a newly formed trust and not its activities to be examined for granting registration unde

IT: Where trust had approached authority for registration under section 12A within a span of eight months of its formation, only objects of trust for which it was formed would have to be examined for one to be satisfied about its genuineness and not its activities

Power to extend time-limit can't revive already expired assessment

Excise : Where time-limit for framing assessment under Sales-tax law had already expired without any order extending such time-limit, any subsequent order extending period of limitation cannot clothe Assessing Officer with jurisdiction to frame assessment

Sum paid for copyright in a film for a term more than that stipulated in Copyright Act excludes it f

IT/ILT : Consideration for perpetual transfer for 99 yrs of copyrights in film is not "royalty"

SEBI eases FIIs norms; permits FIIs to invest in India using opaque structure to comply with laws of

SEBI : Declaration and undertaking regarding PCC, MCV or Equivalent Structure by FIIs

Ad hoc provision for warranty without any scientific basis shall be disallowed, Madras HC says

IT : Where provision for warranty cost was not created on a scientific basis, same was not allowable

Support services from holding co. not treated as FTS for not satisfying 'make-available' clause

IT/ILT: Services rendered under pretext of routing administrative services treated as 'technical services' – Whether when 'make-available' clause is not satisfied the sum paid for technical services shall not be taxable as FTS under Article 12 of India-Netherland DTAA - Held Yes

SEBI rationalizes periodic call auction mechanism for illiquid scrips

SEBI : Rationalization of periodic call auction for illiquid scrips

Genuine purchases from related party at prevailing market rate rules out sec. 40A(2) disallowances

IT: Where appellate authorities having found that assessee had in fact made purchases but purchase price was inflated, confirmed disallowance to extent of 25 per cent, same did not give rise to any question of law

SEBI seeks adherence to deposit mandate by debt segment members; asks exchanges to employ system for

SEBI : Deposit requirements for members of the debt segment

MCA exempts Vessel Sharing Agreements of Liner Shipping Industry from being treated as Anti-Competit

COMPETITION ACT : Section 3, read with section 54 of the Competition Act, 2002 - Prohibition of Agreements - Anti-Competitive Agreements - Notified agreements which are exempt from provisions of section 3

Trusts registration couldn't be cancelled merely on denial of sec. 10(23C) relief in subsequent year

IT: Registration under section 12A could not be cancelled on basis of denial of exemption under section 10(23C)(vi) in subsequent year

RBI asks banks to create ‘Deferred Tax Liability’ on special reserves created under I-T Act

IT : Deferred Tax Liability on special reserve created under section 36(1)(viii) of the Income Tax Act, 1961