IFSCA consolidated the regulatory framework for Broker Dealers and Clearing Members in GIFT IFSC into a single Master Circular. The framework covers registration, supervision, governance, cyber security, client protection and technology compliance.
IFSCA released a consultation paper proposing changes to premium-related regulations after the Insurance Act, 1938 was amended through the SBSR Act, 2025. The draft seeks to align IFSC regulations with the revised statutory definition of “premium.”
IFSCA issued a circular explaining how Investment Advisers in the IFSC can provide implementation services for various financial products. The circular prescribes different regulated channels for listed and unlisted products.
The Mumbai ITAT held that additions under Section 69 cannot be sustained merely on the basis of uncorroborated excel-sheet entries and third-party statements. The Tribunal deleted the alleged on-money addition in the Rubberwala Group matter.
The Bangalore ITAT held that genuine business sales recorded in audited books cannot be treated as unexplained cash credits merely because payment was received in Specified Bank Notes during demonetisation. The Tribunal deleted the ₹29.27 lakh addition under Section 68.
The Bangalore ITAT held that an assessee claiming exemption based on Form 16 issued by the employer acted under a bona fide belief and cannot automatically be penalized for misreporting. The Tribunal deleted the ₹51.20 lakh penalty levied under Section 270A.
The article explains that investors should evaluate account charges, platform security and service quality before opening a demat account online. It also highlights the importance of checking registration status and compliance procedures.
GSTAT upheld anti-profiteering findings after the developer accepted the DGAP report concerning ITC benefits in a housing project. The Tribunal ruled that excess benefit given to some buyers cannot offset shortfall payable to others.
The DGFT has amended the export policy of sugar from “Restricted” to “Prohibited” with immediate effect until September 30, 2026. The notification aims to regulate sugar exports while allowing limited exemptions for specified categories and government-approved shipments.
The article explains how the Constitution (One Hundred and Sixth Amendment) Act, 2023 introduced one-third reservation for women in Parliament and State Assemblies. It highlights the constitutional basis of affirmative action and its role in improving women’s political participation.
