Eligible applicants include IRDAI-registered intermediaries, foreign intermediaries registered with home-country regulators, Indian companies, firms, co-operative societies and foreign body corporates. Insurance brokers comprise direct, reinsurance and composite brokers, each permitted to undertake defined solicitation, arrangement and risk-management functions. Corporate agents solicit and service insurance business, while third party administrators provide prescribed health services for insurers. The framework also defines insurance self-network platforms, authorised verifiers, qualified personnel, principal officers and the application of statutory meanings to undefined terms.

Insurance intermediary registration and operations in an International Financial Services Centre are subject to a prescribed process under the International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021. The process regulates the entry and operational activities of insurance intermediaries within that Centre under the regulatory purview of the International Financial Services Centres Authority Act, 2019.

Regulation 1 gives the International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021 their short title and stipulates that they enter into force upon publication in the Official Gazette. The regulations are made under enabling provisions of the International Financial Services Centres Authority Act, 2019 and the Insurance Act, 1938, for insurance intermediaries in International Financial Services Centres.

The Performance Review Committee reviews the Authority's functioning annually for legal compliance, transparency and governance practices, and risk management. Its compliance review assesses whether regulations conform to applicable law, reduce stakeholder compliance burden, are fair, non-discriminatory and accessible, and provide clear and predictable guidance. Risk review assesses monitoring measures, risk identification, categorisation, mitigation, and records of breaches. The Committee may access relevant records, require employee attendance, examine registered complaints, submit findings, and provide a consolidated annual report for action.

Composite show-cause notices under sections 73 and 74 may cover multiple financial years where demands arise from a common factual matrix. Consolidation is procedural only: each financial year retains its independently calculated statutory limitation, and a later year's timeline cannot extend an earlier year's deadline. The use of any period and such periods supports statements for additional periods on the same grounds. Clear year-wise tax breakups allow liabilities to be disaggregated for limitation, adjudication, statutory benefits, and defence, preserving natural justice.

Eligible FinTech entities may receive grants for product development, proof-of-concept activities, sandbox experimentation, sustainable-finance solutions, accelerator capacity-building and listing support. Applications undergo eligibility and regulatory due diligence, including KYC-AML, disclosure and corporate-governance compliance, followed by Evaluation Committee recommendations and grant-specific sanction conditions. Disbursement is linked to agreed milestones and ordinarily made on a reimbursement basis. Recipients must operate from the IFSC during relevant programmes, meet applicable incorporation and authorisation requirements after successful completion, and comply with end-use and implementation restrictions.

Wizzmoni Financial Services Ltd. and City Union Bank Ltd. have partnered to launch Wizz Voyager, a co-branded AI-powered multi-currency prepaid travel card for Indian residents undertaking international travel. The card supports 37 international currencies and provides real-time exchange-rate locking, spending controls, transaction tracking and mobile-app-based management. It is designed to facilitate foreign-exchange spending and management of multiple currencies through a single payment instrument.

Rule 164 establishes an electronic application process for persons eligible for waiver of interest, penalty, or both under Section 128A in relation to specified Section 73 notices, statements, and orders. FORM GST SPL-01 applies to notices or statements; FORM GST SPL-02 applies to orders. Payments against orders must be credited to the Electronic Liability Register, and payments made through FORM GST DRC-03 require FORM GST DRC-03A adjustment before FORM GST SPL-02.

Insurance intermediary compliance requirements broaden the categories of professionals who may issue prescribed certificates. An IIIO must submit a paid-up capital and net-worth certificate half-yearly. Insurance intermediaries must also furnish, with audited accounts, a compliance certificate confirming adherence to the regulations. Form B requires an applicant's certificate confirming compliance with applicable regulatory requirements. Certificates may be issued by statutory auditors, practising Chartered Accountants, Company Secretaries, Cost Accountants, or other appropriately qualified persons specified by the Authority.

Insurance business registration compliance certification is amended in Form B and Form C of the First Schedule. Applicants must submit a certificate from a practising Chartered Accountant, Company Secretary, Cost Accountant in India, or another appropriately qualified person specified by the Authority. The certificate must confirm compliance with the applicable Act, the Registration of Insurance Business Regulations, 2021, and notifications issued under section 2CA of the Act.

Input tax credit for goods delivered at the supplier's place of business under ex-works contracts is to be implemented in Goa in accordance with the corresponding central GST clarification. The clarification concerns the requirement of receipt of goods for claiming input tax credit under Section 16(2)(b) of the CGST framework. Uniform application is directed under the Goa GST Act by extending the central clarification mutatis mutandis.

Limitation is the central issue in proceedings concerning a CESTAT determination that the show cause notice and Order-in-Original were barred by time. The High Court has issued notice to the respondent and fixed the matter for further listing before the Joint Registrar and subsequently before the Court. No final determination on the limitation issue has been made at this stage.

Writ petitions seeking refund of amounts debited from bank accounts are not ordinarily entertained where a statutory appeal concerning the same cause of action is already pending. The appellate authority must adjudicate the grievance in accordance with law after hearing all concerned parties. Parallel writ proceedings should not bypass the statutory appellate remedy; the pending appeal should instead be decided expeditiously, preferably within six months.

Fresh provisional attachment order issued while a writ petition remained pending was treated as an attempt to alter the subject matter under challenge and as inconsistent with the judicial discipline expected of quasi-judicial authorities. The departmental representative undertook not to press that order and acknowledged that specified provisional attachment orders, including an extension order, lacked the requisite approval or were otherwise not issued in accordance with law. The hearing was not concluded, and no final adjudication on the validity of the attachment measures was made; the matter was adjourned for further hearing.

Valid registration under section 12AA establishes that a society is constituted for charitable purposes. Where its charitable objects or activities are not disputed, that registration supports eligibility for approval under section 80G. Approval should not be denied merely despite the society holding valid section 12AA registration; the approval application requires fresh consideration in accordance with law.

Reasonableness of jewellery explanations in search assessments must be evaluated against family status, customary gifts and household circumstances; the jewellery addition was eliminated after the items were treated as nominal and reasonably explained. Watch valuation requires a fair opportunity for independent valuation where seized items remain in departmental custody and their genuineness or nature is disputed; the watch addition requires fresh examination. Foreign currency claimed to arise from overseas travel or prior non-resident status requires cogent supporting evidence, such as customs declarations or purchase records; the unexplained-money addition remained enforceable.

An intimation under section 143(1) requires prior issuance of the show cause notice mandated by its proviso. Where the record shows that no such notice was issued to the assessee, the statutory precondition for making the adjustment is not met. The intimation is therefore invalid in law and liable to be quashed.

Mushroom cultivation, including production and sale under controlled conditions, qualified as exempt agricultural income. A cold-chain facility established with new plant and machinery as an independent operation qualified for weighted deduction as a specified business because it was not formed by splitting up or reconstructing an existing business. Unaccrued machinery-sale consideration could not be included in minimum alternate tax book profit where the sale did not materialise and restated financial statements reflected real income. Delayed employees' provident fund and ESI contributions were not deductible. Sales-promotion and miscellaneous expense disallowances could not rest on unverified allegations or ad hoc estimates without identified defects or rejection of audited books.

Cash deposits during the demonetisation period were supported by bank-recorded withdrawals made before the deposits. Withdrawals of Rs. 2,50,000 and Rs. 9,00,000 were substantially traceable to deposits totalling Rs. 10,02,000, making the stated source plausible. On that basis, the addition for alleged unexplained cash deposits was deleted in favour of the assessee.

Common area maintenance charges for leased mall premises fall under Section 194C rather than Section 194-I where they are separately determined from lease rent, calculated by reference to area, and cover distinct staff and day-to-day operational services. Such charges are not an essential or integral component of consideration for use of the premises. Tax must therefore be deducted as payments for maintenance services under Section 194C, not as rent under Section 194-I.