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Archive: December, 2023

Posts in December, 2023

Draft IRDAI Regulations 2024: Foreign Reinsurers Branches & Lloyd’s India

December 13, 2023 1446 Views 0 comment Print

EXPOSURE DRAFT IRDAI (Registration and Operations of Foreign Reinsurers Branches & Lloyd’s India) Regulations, 2024 1. To meet the objective of the Authority to promote ease of doing business, the Regulation Review Committee (RRC) was formed with an intent of streamlining various regulations issued by the Authority. 2. The RRC has recommended unification of regulations, […]

CCI Amendment: Interlocutory Application Numbering & Fee Regulations

December 13, 2023 1246 Views 0 comment Print

Stay informed on the latest CCI (General) Regulation amendments for Interlocutory Applications. Learn about numbering, fees, and stakeholder feedback. Act now

Draft Robust Risk Management Framework for CRAs in NPS Architecture

December 13, 2023 675 Views 0 comment Print

Explore the proposed Risk Management Framework for Central Recordkeeping Agencies (CRAs) under NPS architecture. Provide feedback by 1st Jan 2024

Circular cannot take away the plain effect of CGST Rule 97A

December 13, 2023 2769 Views 0 comment Print

Allahabad High Court mandates refund under CGST Rule 97A, rejecting Circular’s impact. Details of Savista Global Solutions Pvt Ltd vs Union of India case and judgment.

Heavy cost imposed for obtaining admission under EWS category by illicit means

December 13, 2023 2946 Views 0 comment Print

Delhi High Court imposed heavy cost for obtaining admission under Economically Weaker Sections (EWS) category by illicit means. Further, directed to convert the admission under the General Category in place of EWS category.

CESTAT quashes Order Denying Concessional Duty Rate under Preferential Trade Agreement

December 13, 2023 1290 Views 0 comment Print

Explore the CESTAT Chennai order in TCP Limited vs Commissioner of Customs regarding the concessional rate of duty on imported coal. Detailed analysis and implications.

ITAT directs AO to consider stamp duty value on allotment date for Section 56(2)(vii)(b) addition

December 13, 2023 7884 Views 0 comment Print

Explore the ITAT Mumbai decision in Rekha Singh vs ITO, directing the consideration of stamp duty value on the date of allotment for Section 56(2)(vii)(b) purposes. Detailed analysis and implications.

HC set aside Order and Section 148 Notice due to Denied Oral Hearing

December 13, 2023 1245 Views 0 comment Print

Explore the Delhi High Court’s decision in Deepak Modi vs ACIT, setting aside the reassessment order due to lack of inquiry and denial of oral hearing. Detailed analysis and implications.

Expenses for prospective clients allowable, even if not resulting in immediate income

December 13, 2023 870 Views 0 comment Print

Explore the Delhi High Court decision in PCIT vs Trinity Insurance, dismissing the appeal against deletion of supervisory and risk management expenses. Analysis and implications.

In absence of acquired or purchased goodwill, claims for depreciation untenable

December 13, 2023 939 Views 0 comment Print

The ITAT Pune bench rejects depreciation claim on goodwill in Millennium Engineers & Contractors vs. DCIT case. Detailed analysis of the judgment and its implications.

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