The case involved a broker implementing substantial shareholding changes without obtaining IRDAI’s prior approval as required by regulations. IRDAI held that the violation was established but issued a warning considering corrective measures and future compliance commitments.
CBDT has instructed tax officers to uniformly apply Sections 68 to 69D and Section 115BBE after a C&AG audit found inconsistencies in assessments and incorrect tax computations leading to revenue loss.
DGFT has introduced electronic Preferential Certificates of Origin through the Trade Connect platform for exports to Oman under the India-Oman CEPA. The move digitizes issuance, verification, and authentication of origin certificates.
The MCA has widened CSR eligibility by recognizing subscriptions to Zero Coupon Zero Principal Instruments as a valid CSR activity. The amendment creates a new avenue for funding public welfare projects through Social Stock Exchange-listed NPOs.
The Tribunal criticized the Assessing Officer for taking a contrary stand in later years after allowing the same deduction on identical facts in an earlier assessment. It held that such inconsistent treatment without distinguishing facts was unsustainable.
India has strong growth drivers including digitalization, manufacturing, and a young population. The key challenge is sustaining growth while addressing unemployment, inequality, and infrastructure gaps.
Learn when home office expenses qualify for tax deductions under IRS rules. The article explains exclusive use, regular use, principal place of business tests, and available deduction methods.
The High Court set aside retrospective GST registration cancellation after finding that the show cause notice failed to disclose the factual basis of the allegations. The ruling emphasizes the need for a meaningful opportunity to respond before adverse action is taken.
The Court held that toll collection rights granted under a BOT concession agreement amounted to consideration for works contract services. As a result, GST liability on the road construction arrangement was upheld.
The High Court held that an earlier CGST show cause notice involving overlapping entities could not be ignored. The State GST notice was directed to remain in abeyance pending adjudication by the CGST Authority.
