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Exposure draft of IRDAI (Assets, Liabilities and Solvency Margin of General Insurance Business) (First Amendment) Regulations, 2022

October 21, 2022 765 Views 0 comment Print

Insurance Regulatory and Development Authority of India Exposure draft of IRDAI (Assets, Liabilities and Solvency Margin of General Insurance Business) (First Amendment) Regulations, 2022 1. In exercise of the powers conferred by clauses (y), (z), (za) and (zab) of subsection (2) of section 114A read with Sections 64V and 64VA of the Insurance Act, 1938, […]

GST refund rejection inadmissible if no reason assigned for rejection

October 21, 2022 1086 Views 0 comment Print

High Court are of the view that the same is not at all a speaking order. No reasons have been assigned for rejecting the refund application of the petitioner. Assessing officer did not advert to the objections filed by the petitioner on 10.03.2022.

SEBI allows brokers to place bids on RFQ platform

October 20, 2022 690 Views 0 comment Print

SEBI has allowed stock brokers registered under the debt segment of the Stock Exchange(s) to place/seek bids on the Request for Quote (RFQ) platform on behalf of client(s), in addition to the existing option of placing bids in a proprietary capacity.

CBIC notifies Customs Exchange rate for Import & Export wef 21.10.2022

October 20, 2022 1458 Views 0 comment Print

CBIC notifies Customs Exchange rate for Import & Export wef 21st October, 2022 vide Exchange rate Notification No. 90/2022 – Customs (N.T.) | dated the 20th October, 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS New Delhi ***** Notification No. 90/2022 – Customs (N.T.) | dated the […]

Clarification on operation of SB Pension & Joint Accounts opened by 3 adults jointly opened before 18.12.2019

October 20, 2022 420 Views 0 comment Print

If any depositor is already having one SB Pension Single Account and one normal SB Single Account opened before 18.12.2019, both the accounts can be continued in operation and they shall be treated as normal savings accounts for operation.

Conditions for TRQ imports under tariff head 7108 under India-UAE CEPA updated

October 20, 2022 1431 Views 0 comment Print

Conditions for TRQ imports under tariff head 7108 under India-UAE CEPA are updated in line with Customs Notification No. 74/2022-Customs(N.T.) dated 09.09.2022 read with Circular No.18/2022-Customs 10.09.2022. Government of India Ministry of Commerce & Industry Department of Commerce Vanijya Bhawan, New Delhi Public Notice No. 32/2015-2020-DGFT | Dated: 20th October, 2022 Subject: Amendment in Para […]

Guideline for Handling NPS corpus of deceased Subscribers meant for purchase of Annuity

October 19, 2022 597 Views 0 comment Print

It is observed that in certain cases, the subscribers post availing lump sum had met with unfortunate death but before issuance of annuity and the amount meant for Annuity lie in CRA System. In such cases, the following are the guidelines which can be applicable to handle the corpus meant for issue of Annuity,

Concluded assessments cannot be reopened u/s 153A in absence of incriminating material

October 19, 2022 1926 Views 0 comment Print

PCIT Vs Meeta Gutgutia Prop. M/s. Ferns ‘N’ Petals (Delhi High Court) There is no such statement in the present case which can be said to constitute an admission by the Assessee of a failure to record any transaction in the accounts of the Assessee for the AYs in question. On the contrary, the Assessee […]

Section 56 -Stamp duty value on agreement date is to be considered and not value on registration date

October 19, 2022 7461 Views 0 comment Print

Sajjanraj Mehta Vs ITO (ITAT Mumbai) During the appellate proceedings, the appellant vide letter dated 03/04/2018 submitted that the AO has made addition ignoring the 1st and 2nd proviso to section 56(2)(vii)(b) inserted by Finance Act, 2013 w.e.f. 01.04.2014. The appellant was allotted flat no. 502 in the building Kamla Astral, Dadar for a total […]

Mere Charging of shareholder under PMLA cannot be a ground to attach property of Company

October 19, 2022 3315 Views 0 comment Print

Charging of shareholder with crime under PMLA cannot be a ground to attach property of Company unless there is an allegation that property acquired by company was from proceeds of crime.

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