Every Finance Company and Finance Unit must comply with Know Your Customer norms, measures to combat financing of terrorism, anti-money laundering obligations, and reporting requirements applicable to a Banking Unit in IFSCs.

Currency of operations for a Finance Company or Finance Unit must be conducted in freely convertible foreign currency with persons permitted by the Authority. Permitted INR-denominated transactions must be settled in freely convertible foreign currency. An INR account may be maintained from such foreign currency for administrative, statutory and other authorised purposes. Balance sheets must be maintained exclusively in United States Dollars, and a Finance Unit must keep its transaction accounts separate from those of its parent.

Finance Companies and Finance Units may undertake specified specialised, core, and non-core financial activities, subject to applicable conditions, registration requirements, and approvals. Non-core activities must be conducted through separately identifiable departments, protected by conflict-of-interest firewalls, and supported by a Board-approved grievance-redressal and customer-compensation policy. Dealings with residents remain subject to foreign exchange law. Derivatives undertaken by entities carrying out non-core activities are restricted to hedging underlying exposures, and speculative transactions may not be undertaken or funded.

SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER For the Assessee :  None For the Revenue : Shri S.K. Gupta, DR ORDER Per Smt.P. Madhavi Devi, J.M. This is Revenue's appeal for the A.Y 2008-09. In this appeal, the Revenue's grievence is that the CIT (A) has erred in giving relief to the assessee on estimation of the income at a certain percentage of turnover without appreciating that the actual issue involved is determination of 'suppression of... ... ...

Finance Companies and Finance Units must comply with prudential requirements specified by the Authority, including a minimum capital ratio of regulatory capital to risk-weighted assets. They must maintain a liquidity coverage ratio on a stand-alone basis, subject to approved parent-entity maintenance for a Finance Unit. Aggregate exposure to a single counterparty or connected counterparties is limited to twenty-five per cent of the available eligible capital base without approval. Operational guidelines govern implementation.

Natixis has placed its Portugal and India Expertise Centers under common leadership to strengthen coordination, collaboration, knowledge sharing and consistent working methods across locations. Teams are to work through shared platforms and standards, supporting business continuity across geographies and time zones. The model also promotes talent mobility and international career development while supporting global operational needs and recognising each market's circumstances.

Registration is required before a Finance Company or Finance Unit may commence scheduled activities in an IFSC. Finance Companies must maintain the prescribed minimum owned fund, while a Finance Unit's parent must provide and maintain the applicable fund on an unimpaired basis. Applicants and/or promoters must be from FATF-compliant jurisdictions. Registration may be provisional where further time is justified for specified conditions. Deficiencies must be communicated for rectification, and refusal requires reasons and an opportunity for written submissions.

A Finance Company and Finance Unit may undertake permissible financial activities only if they do not accept public deposits from residents or non-residents and are not registered as Banking Units. Aircraft Lease and Ship Lease include operating, financial, and hybrid leases of the relevant assets, engines, and parts. Public deposit includes demand-repayable and term-deposit amounts raised from residents or non-residents. Owned fund is calculated from specified capital and reserve components after prescribed exclusions and deductions.

International Financial Services Centres Authority (Finance Company) Regulations, 2021 establish a regulatory framework for finance companies in International Financial Services Centres under statutory powers conferred on the International Financial Services Centres Authority. Regulation 1 prescribes the short title and provides that the framework takes effect on publication in the Official Gazette.

Roasted areca nuts, whether whole, split or cut, fall under tariff item 2008 19 20 in Chapter 20 as other roasted nuts and seeds. High-temperature roasting, cooling and repeated roasting cycles are materially different from the drying, dehydration or moderate heat treatment permitted for Chapter 8 products. Heading 2008 and its HSN Explanatory Notes specifically include dry-roasted, oil-roasted and fat-roasted areca or betel nuts. The specific tariff entry for roasted nuts therefore prevails over the general entry applicable to dried nuts.

Recognition of IFSC stock exchanges, clearing corporations and depositories depends on incorporation, ownership, fit-and-proper status, net worth, governance and operational capability. Stock exchanges require orderly trading, surveillance, investor grievance and continuity systems; clearing corporations require netting, novation, risk controls and a Settlement Guarantee Fund; and depositories require secure dematerialisation, daily reconciliation, data protection and investor safeguards. Recognised institutions must ensure fair access, maintain electronic records, appoint a compliance officer, submit returns, and remain subject to inspection, audit, directions and prescribed conditions.

Goa grants full State tax exemption for specified intra-State supplies of goods classified under listed tariff items, headings and Chapters. Coverage includes primary agricultural produce, specified food products, seeds, feed, medicines, contraceptives, educational goods, cultural articles, public-interest goods and identified indigenous handmade musical instruments. Many entries apply only to goods other than pre-packaged and labelled goods. Lottery supplies, grant-funded supplies by Government entities, hearing-aid parts and public auctions of specified gift items are subject to stated conditions. Customs Tariff classification rules apply, and seed exemptions require seed-quality or sowing use.

Personal loans are available to eligible customers as collateral-free credit, subject to lender assessment, eligibility criteria and applicable lending terms. Interest rate, loan amount and repayment tenure determine the monthly EMI and total repayment obligation, while processing fees and other charges form part of the overall borrowing cost. Borrowers should compare rates, EMIs, tenure, total repayment amount, fees and repayment terms. Applications involve online eligibility checking, submission of personal and financial details, review of an offer, KYC verification and completion of applicable requirements.

Section 68 of the Income-tax Act applies to an unexplained bogus liability recorded in the books, even where the credit does not represent a cash receipt. A purchase from a related concern was found non-genuine from supporting records and bank-account examination, leaving the corresponding liability as an unsubstantiated paper entry. As no plausible explanation established the liability's genuineness, the amount credited as the bogus purchase liability was liable to be added to income under Section 68.

India's merchandise exports grew faster than imports in August 2026, reducing the merchandise trade deficit to USD 26.86 billion. Exports reached USD 43.81 billion, with engineering goods, petroleum products, chemicals and textiles supporting growth, while imports amounted to USD 70.76 billion. During April-August, both exports and imports increased. Export demand was significant in the United States, European Union, BRICS countries and other emerging economies, while gold imports declined substantially in August.

Goa Government amends Notification No. 38/1/2017-Fin(R&C)(8/2018-Rate) under its statutory GST exemption power. The existing reference to Schedule IV of Notification No. 38/1/2017-Fin(R&C)(1/2017-Rate) is replaced by Schedule II of Notification No. 38/1/2017-Fin(R&C)(09/2025-Rate). The amended cross-reference applies from 22 September 2025.

Granted design and utility intellectual property protection covers a distributed CCS2 EV charging architecture that centralizes power conversion in a shared Power Unit while compact Dispenser Units provide connectors, authentication hardware and displays. The arrangement supports multiple output terminals, permits scalable addition of dispensers, and avoids duplication of conversion and cooling equipment at each charging bay. Dispensers deliver up to 375A per CCS2 connector through natural air cooling and include authentication, monitoring, communication and standards-aligned charging functions.

Finance Companies and Finance Units in International Financial Services Centres require registration before conducting permitted financial activities and cannot accept public deposits or operate as Banking Units. Applicants must satisfy applicable owned-fund requirements, FATF-related eligibility standards, and, where relevant, home-regulator no-objection requirements. They must maintain prescribed capital, liquidity, and counterparty-exposure standards. Permissible activities include lending, investments, leasing, derivatives, treasury functions, and specified non-core services, subject to operational safeguards. Resident dealings remain subject to foreign-exchange law, speculative transactions are prohibited, and anti-money-laundering, governance, disclosure, and reporting obligations apply.

The deadline for furnishing the declaration in Form GST TRAN-2 under Rule 117(4)(b)(iii) of the Chhattisgarh Goods and Services Tax Rules, 2017, is extended up to 30 June 2018. The extension is issued under Section 168 of the Chhattisgarh Goods and Services Tax Act, 2017, read with the relevant rule, based on the Council's recommendations.

India-New Zealand Free Trade Agreement is expected to enter into force from 19 October 2026. It provides duty-free access in New Zealand for all Indian exports, replacing peak tariffs applicable to specified Indian goods, including ceramics, carpets, automobiles and auto components. The arrangement is intended to expand bilateral trade in goods and services, promote investment, and includes New Zealand's investment commitment in India over a 15-year period.