India’s PMLA, 2002, mandates a robust Anti-Money Laundering (AML) framework for insurance companies, involving KYC, risk assessment, suspicious transaction reporting, and employee training to combat financial crime.
J&K High Court rules motor insurance typically excludes gratuitous passengers, shifting compensation liability to the vehicle owner, with courts sometimes ordering insurers to pay and recover.
A GST portal glitch allows incorrect ITC utilization in GSTR-3B, risking notices and penalties for businesses. Learn the legal ITC order and how to protect your compliance.
Delhi High Court held that GST order set aside as GST notice was uploaded on ‘Additional Notices Tab’ and the same was not brought to knowledge of the petitioner. Accordingly, matter remanded back and petitioner directed to furnish reply.
ITAT Ahmedabad ruled remuneration to partners cannot be disallowed solely due to an unnotarized or backdated supplementary partnership deed, upholding partner remuneration claims.
Unregistered vendors in Bangalore and Mysuru face GST notices based on UPI transactions, leading to digital payment rejections and protests. Karnataka launches ‘Know GST’ to address concerns.
ICAI Disciplinary Committee reprimands CA. Jayaraman Dindigul Viswanathan for professional misconduct in issuing an unverified certificate, leading to revenue loss.
ITAT Ahmedabad dismisses assessee’s jurisdictional objection in N.S. Pandya vs ITO, upholding assessment as no prior address change or return filing was proven.
CESTAT Chennai held that active collusion of appellant i.e. Custom House Agent [CHA] with High Sea Seller not proved hence penalty under section 112(a) of the Customs Act, 1962 unwarranted in absence of intention to evade payment of duty.
ITAT Chennai held that salary income for services rendered in China is not taxable in India. Accordingly, benefit of exemption under Article 15(1) of the DTAA between India-China. Thus, order set aside and appeal allowed.
