Framework for Alternative Investment Funds (AIFs) to invest simultaneously in units of other AIFs and directly in securities of investee companies Securities & Exchange Board of India CIRCULARSEBI/HO/IMD-I/DF6/P/CIR/2021/584 June 25, 2021 To,All Alternative Investment Funds (AIFs) Sir/ Madam, Sub: Amendment to SEBI (Alternative Investment Funds) Regulations, 2012 1. …
RBI issues Guidelines on Managing Risks in Outsourcing of Financial services by Co-operative Banks RBI has observed that the co-operative banks are increasingly using outsourcing as a means for reducing costs as well as for availing specialist expertise, where these are not available internally. The RBI maintains that …
Where ITR is processed u/s 143(1) AO can form reasons to believe that income has escaped assessment by examining the very return and/or document accompanying ITR ABCAUS Case Law CitationABCAUS 3516 (2021) (06) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) …
Activity of running hostel by Dental college not a separate business activity and pre conditions u/s 11(4A) do not apply – High Court In the instant case, the assessee had challenged the order passed by the ITAT holding that in the absence of separate books of accounts, the …
 CBDT grants further extension in timelines of compliances, announces tax exemption for expenditure on Covid treatment and ex-gratia received on death due to Covid  CBDT has issued Circular No. 12/2021 extending various timelines and exempting covid treatment expenditure and ex-gratia received on death due to Covid. …
No addition can be made on issues for which case was not reopened. Reassessment quashed as addition made on issues not recorded in reasons. The case of the appellant assessee in this case was when no addition has been made on the issue for which the case was …
