Definition as per the Income-Tax Act, 2025 Section 355 { For purpose of Part B, NPO}  "value" means the value of any benefit or facility granted or provided free of cost or at concessional rate to any related person. Definition as per the Income-tax Act, 1961 Explanation - Section 12(2) For the purposes of this sub-section, the expression "value" shall be the value of any benefit or facility granted or provided free of cost or at concessional rate to any person ... ... ...

GOVERNMENT OF NCT OF DELHI DEPARTMENT OF TRADE AND TAXES POLICY BRANCH, VYAPAR BHAWAN, IP ESTATE, NEW DELHI-110002. F. No.3(523)/GST/POLICY/2024/1543-51 Dated: 22/5/24 INSTRUCTION Sub: The Insolvency and Bankruptcy Code (IBC), 2016 has been enacted to consolidate and amend the laws relating to reorganisation and insolvency resolution in a time bound manner for maximisation of value of assets, to promote entrepreneurship, availability of credit and balance the interests of a... ... ...

J.B. PARDIWALA AND MANOJ MISRA JJ. For the Petitioner : Mr. Rajat Khattry, Adv. Mr. Varadarajan, Adv. Mr. Abhay Kumar, AOR For the Respondent : Mr. S.K. Verma, AOR Mr. Rajesh Singh Chauhan, AOR Mr. Anil Kumar Singh, Adv. JUDGMENT J. B. PARDIWALA, J .: 1. This petition seeking leave to appeal under Article 136 of the Constitution is at the instance of M/s Universal Sompo General Insurance Company Limited, Original appellant before the National Consumer Disputes Redressal Commission... ... ...

New Delhi, Sep 11 (PTI) Commerce and Industry Minister Piyush Goyal on Friday said exports from BRICS countries have risen from about USD 900 billion in 2003 to USD 6 trillion in 2024, reflecting the scale of its market and potential. Speaking at the BRICS Business Forum here, Goyal also said the share of BRICS nations in global exports has nearly doubled to about 24 per cent. "This is the largest BRICS business forum ever held. The Forum has taken up issues such as non-tariff barriers imp... ... ...

Mumbai, Sep 11 (PTI) India's forex reserves jumped by a record USD 44.903 billion to a new lifetime high of USD 785.706 billion during the week ended September 4, the RBI said on Friday. In the previous reporting week, the overall reserves increased USD 11.475 billion to a new all-time high of USD 740.803 billion. The kitty had been declining since the start of the conflict in West Asia earlier this year, as the rupee came under pressure and the RBI had to intervene in the forex market t... ... ...

For uniformity in Delhi GST administration, the Delhi State Tax Department applies mutatis mutandis Instruction No. 05/2023-GST of Central Tax while implementing the Delhi Goods and Services Tax Act, 2017. The central-tax instruction concerns the Supreme Court judgment in Northern Operating Systems Private United (NOS), and the measure is clarificatory; implementation difficulties may be referred to the Commissioner of State Tax, Delhi.

^1[PART D: THIRD-PARTY FUND MANAGEMENT SERVICES 107A. A FME may launch a scheme on behalf of a third-party in accordance with the provisions of this Part.]     **************** NOTES:- 1.  Inserted vide Notification No. IFSCA/GN/2025/007 dated 24-07-2025 w.e.f. 30-07-2025   =============... ... ...

Raipur, Sep 11 (PTI) The Enforcement Directorate on Friday arrested the additional collector of Chhattisgarh's Balrampur-Ramanujganj district in connection with a money laundering probe linked to alleged irregularities at the Public Service Commission (PSC) during the previous Congress government, officials said. The officer, Chetan Borghariya, was taken into custody under the Prevention of Money Laundering Act (PMLA). He was earlier posted as officer on special duty (OSD) in the office of... ... ...

HON. L. NAGESWARA RAO AND HON. M.R. SHAH, JJ. For the Petitioner : Ms. Rajkumari Banju, AOR For the Respondent : Mr. Varun Chopra, Adv. Mrs. Swarupama Chaturvedi, AOR Mr. B.N. Dubey, Adv. Mr. Mukesh Kumar, Adv Mr. Gurtej Pal Singh, Adv. Ms. Indira Bhakar, Adv. Ms. Aparna Trivedi, Adv. Mr. Shanatanu Singh, Adv. JUDGMENT Leave granted. 1. The Appellant is a manufacturer of spirits and holds a licence in the form of D-1 granted in the year 2017. A tender notice was issued for supply ... ... ...

Trusted financial innovation requires financial stability, customer protection, security, transparency, accountability and fairness. Digital payments, as critical infrastructure, require operational and cyber resilience, ecosystem-wide fraud prevention, effective authentication, grievance redressal and timely customer access to funds. Digital lending does not dilute regulated-lender responsibility; borrowers must understand loan terms, and data use must be consent-based, purpose-linked and secure. Institutions remain accountable for algorithmic decisions, model bias and explainability. Regulation should be proportionate to risk while supporting inclusive, resilient innovation.

Fintech should advance financial inclusion through accessible savings, insurance, pensions and small-ticket credit, while AI, quantum computing and tokenisation serve consumer service, credit assessment, efficiency and fraud prevention. Trust requires mitigating AI-related risks, treating customer data as a fiduciary responsibility, using consent-based and purpose-limited data sharing, and maintaining resilience, continuity and cybersecurity at scale. Regulation is proportionate and activity-based, calibrated to risk, capacity, systemic significance and consumer conduct.

Regulation 148 repeals the 2022 fund-management framework and supersedes specified circulars while preserving regulatory continuity. Prior registrations, approvals, fees, enforcement actions, investigations, notices and pending applications are deemed to continue under corresponding 2025 provisions. Accrued rights, liabilities, penalties, proceedings and remedies remain unaffected. References to the repealed framework are read as references to corresponding 2025 provisions, and earlier circulars and guidelines continue unless specifically superseded or modified.

Delegation of powers permits the Authority's powers under the International Financial Services Centres Authority (Fund Management) Regulations, 2025 to be exercised by an Authority officer where those powers have been delegated by the Authority.

Regulation 146 permits the Authority to prescribe norms, procedures, processes and additional requirements through circulars, guidelines or directions for implementing the Fund Management Regulations and addressing incidental matters. It also permits directions through guidance notes or circulars to remove difficulties in the interpretation or application of the Regulations.

Regulatory or innovation sandbox participation may permit exemption from all or specified regulatory requirements for a stated period not exceeding eighteen months, to facilitate live-environment testing of innovative financial-market products, strategies, processes, services, business models and technology. Experiments involving a scheme and a new strategy must not solicit money from the public and must follow the specified framework. Exemptions are subject to conditions imposed on the applicant, including continuous compliance conditions.

The Authority may relax strict enforcement of Fund Management Regulations requirements in the interest of financial market development in the IFSC, subject to recorded written reasons. An applicant must file a detailed application stating the grounds for relaxation and pay the specified non-refundable fee. A complete application, including responses to clarifications sought, must be processed within sixty days, with reasons recorded for acceptance or refusal.

Suspension, cancellation of registration, or other action against a Fund Management Entity may be taken for non-compliance with registration conditions or applicable regulatory requirements, failure to furnish required information or periodic reports, or provision of materially false or misleading information. Action may also follow from non-cooperation in regulatory enquiries, inspections, or investigations, failure to address investor complaints satisfactorily, or any act or omission warranting intervention or adverse to investor interests.

Post-inspection enforcement authorises directions after consideration of an inspection report and a reasonable opportunity of hearing. Directions may restrict new scheme launches or fundraising, prevent disposal of property acquired in contravention, require directed asset disposal, and require repayment of money or assets to investors with or without interest. Concerned persons may also be prohibited from operating in or accessing the financial market for a specified period.

NICDC conducted business-to-business meetings with Russian counterparts, BRICS delegates, prospective investors and industry representatives to explore manufacturing partnerships, localisation, technology collaboration and supply-chain integration. Industrial Smart Cities were presented as platforms offering serviced industrial land, quality infrastructure, multimodal connectivity and investor facilitation for manufacturing investment. The engagements promoted collaboration among manufacturers, technology providers and supply-chain participants.

Inspection reports must be submitted by the Inspecting Authority to the Authority following an inspection. The Authority may take such action as it considers fit and appropriate on the basis of that report. Where directed by the Authority, the Inspecting Authority may also submit an interim report before the final inspection report.