SEBI Master Circular on Surveillance of Securities Market

SEBI Master Circular on Surveillance of Securities Market

SECURITES AND EXCHANGE BOARD OF INDIA

MASTER CIRCULAR

SEBI/HO/ISD/ISD/CIR/P/2021/22

March 01, 2021

To

1. All Recognized Stock Exchanges
2. All Depositories
3. All Listed Companies
4. All Market Intermediaries registered with SEBI under Section 12 of the SEBI Act, 1992
5. Fiduciaries as per SEBI (Prohibition of Insider Trading) Regulations, 2015

Dear Sir/Madam,

Sub: Master Circular on Surveillance of Securities Market

1. Securities and Exchange Board of India (SEBI) from time to time, has been issuing various circulars for effective surveillance of the securities market.

2. In order to enable the users to have an access to all the applicable circulars at one place, the Master Circular on Surveillance of Securities Market has been prepared.

3. This Master Circular is a compilation of the circulars issued by Integrated Surveillance Department, which are operational as on date of this circular.

4. The list of applicable Circulars has been appended. In case of any inconsistency between the Master Circular and the applicable circulars, the content of the relevant circular shall prevail.

• TDS can’t be denied for non deposit of tax deducted by the deductor – High Court
• Cash withdrawal from bank can’t be taxed u/s 69C as unexplained expenditure – ITAT
• A bland statement of ‘fraud or concealment of facts” in GST Notice u/s 74 not sufficient – SC
• For claiming deduction u/s 57(iii), test is of purpose and connection, not actual yield – ITAT
• Unless medical certificate are held forged & fictitious, appeal can’t be rejected on ground of delay