Insurance Regulatory and Development Authority of India Order No: IRDAI/LIFE/ORD/MISC/209 /10/2022 Date: 12-10-2022 Background 1. A focused onsite inspection of M/s. Pramerica Life Insurance Co. Ltd., (the Insurer) was conducted from 14th October 2019 to 18th October 2019 and inspection report was shared with the insurer for their comments vide letter dated 30th December 2019. Response of the […]
Kalyani Seetharaman Vs ACIT (ITAT Chennai) ITAT noted that the PCIT has not at all given a finding that the order of the AO i.e., the assessment order is erroneous or prejudicial to the interest of revenue and how. We have already noted the finding of PCIT in above para 4 and noted that simple […]
Shri Gopinathan Vs ITO (ITAT Chennai) It is not the case of the Department that the Assessing Officer has omitted to consider the claim of expenses and thereby passed the rectification order under section 154 of the Act. In this case assessment was reopened under section 147 of the Act and during the course of […]
Food Safety and Standards (Labelling and Display) Second Amendment Regulations, 2022 shall come into force on 1st May, 2023.
it is found that Mr. Prakash had neither disclosed the appointment of his brother through M/s Ibay Capital before the CoC nor made relationship disclosure of engagement of M/s Ibay Capital on the website of the IPA. Further, the valuation report was submitted by M/s iVas Partners whose appointment or fee was not approved/ratified by […]
To improve corporate governance standards in ARCs RBI amends Regulatory Framework for Asset Reconstruction Companies
Sigma Construction Co. Vs UOI (Madhya Pradesh High Court) The issue whether in cases when tax dues have been paid in full, are eligible under SVLDRS, 2019 for waiver of interest or not. Hon’ble High Court directed CBIC to dwell upon the question and issue a clarificatory circular/instruction so that ambiguity prevailing in the field […]
In re Hilti Manufacturing India Pvt. Ltd. (GST AAAR Gujarat) It has been submitted by appellant that inadvertently wrong facts were mentioned in the Advance Ruling Application dated 31.03.2021 filed by the appellant before the Advance Ruling Authority on 01.04.2021. It has been submitted that the GAAR had given its ruling based on the submission […]
Department for Promotion of Industry and Internal Trade (DPIIT) notifies establishment of Credit Guarantee Scheme for Startups (CGSS). This Scheme will act as a key enabler and risk mitigation measure for lending institutions, enabling collateral free funding to startups. The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified […]
India to accord top priority to national interest in FTA negotiations; Government will not diverge from this approach for the sake of deadlines: Shri Piyush Goyal Commerce Minister reviews India’s Export Performance in the first six months of this financial year with key representatives from Export Promotion Councils and industry The Union Minister of Commerce […]
