Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Foreign direct investment in insurance is permitted up to 100% under the automatic route, subject to approval and verification by IRDAI and compliance with the Insurance Act, 1938 and applicable insurance investment rules. The amendment replaces Schedule I entry F.8 to set sectoral caps and conditions for insurance companies, LIC and insurance intermediaries, including resident Indian citizen requirements for key management, pricing guidelines for further investment, disclosure obligations, and separate treatment for bank-promoted insurance companies. LIC remains subject to the Life Insurance Corporation Act, 1956 and the specified insurance investment conditions apply to it with necessary adaptation.
Foreign direct investment in insurance is permitted up to 100% under the automatic route, subject to approval and verification by IRDAI and compliance with the Insurance Act, 1938 and applicable insurance investment rules. The amendment replaces Schedule I entry F.8 to set sectoral caps and conditions for insurance companies, LIC and insurance intermediaries, including resident Indian citizen requirements for key management, pricing guidelines for further investment, disclosure obligations, and separate treatment for bank-promoted insurance companies. LIC remains subject to the Life Insurance Corporation Act, 1956 and the specified insurance investment conditions apply to it with necessary adaptation.
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