SCHEDULE International Financial Services Centres Authority (Procedure for Authority Meetings) Regulations, 2020 [See regulation 12] DECLARATION OF FIDELITY AND SECRECY I, ..................................................do hereby solemnly and sincerely declare that I will faithfully, truly and to the best of my skill and ability execute and perform the duties required of me as a member of the Authority and which properly relate to the office or position held by me in or in relation... ... ...

16. The Common Seal of the Authority shall not be affixed to any instrument except in pursuance of a resolution of the authority and in the presence of at least one member who shall sign on such instrument in token of his presence and such signing shall be independent of the signing of any person who may sign the instrument as a witness. =============... ... ...

15. 1) The Chairperson, the whole time members, or any officer as may be nominated by Chairperson by designation or otherwise are hereby severally authorized for and on behalf of the Authority to endorse and transfer negotiable instruments, stock-receipts, stock, debentures, shares, securities, and documents of title to movable and immovable properties standing in the name of or held by the Authority, and to draw, accept and endorse bills of exchange and other instruments in the current and ... ... ...

14. 1) Any contract which, if made between private persons would by law be required to be in writing, signed by the parties to be charged therewith, may be made on behalf of the Authority in writing signed by any member, officer of the Authority or any other person acting under its authority, express or implied and may in the same manner be varied or discharged. 2) Any document connected with any contract may be signed and verified on behalf of the Authority by any officer authorized by t... ... ...

Chapter IV Miscellaneous 13. 1) Chairperson shall nominate any officer of the Authority not below the rank of Grade 'D' as Secretary to keep custody of common seal, register of attendance of the meetings, minutes book, and other documents/records etc. pertaining to the meetings of the Authority. 2) The Secretary shall arrange meetings, record minutes and generally ensure that these regulations are followed. =============... ... ...

12. Every member, before entering upon his duties, shall sign a declaration of fidelity and secrecy in the form set out in the Schedule pledging himself to observe strict secrecy in relation to all transactions of the Authority and all matters relating thereto and shall be by declaration pledge himself not to reveal any of the matters/information which may come to his knowledge in the discharge of his duties except when required or authorized to do so by the Authority or by Law. =========... ... ...

11. 1) A member, as soon as may be, inform the Authority if he becomes subject to any of the disqualifications specified in section 7 of the Act. 2) The Authority shall inform the Central Government, if it comes to the notice of the Authority that any member has attracted the disqualifications referred to in sub-regulation (1). =============... ... ...

Chapter III Obligation of the members 10. Member to abstain from Authority meeting's deliberations on certain matters Every member, who is directly or indirectly concerned or interested in any matter coming up for consideration at a meeting of the Authority, shall, as soon as possible, after the relevant circumstances have come to his knowledge, disclose the nature of his interest at such meeting and such disclosure shall be recorded in the proceedings of the Authority and the member sh... ... ...

9. . 1) The Authority shall cause the minutes of all the proceedings to be maintained in the books kept for the purpose which may be in the form of binders containing loose leaves, duly numbered. 2) A copy of the proceedings of each meeting of the Authority shall be circulated as soon as possible for confirmation of the members. The confirmed minutes shall be signed by the Chairperson or the member presiding at the succeeding meeting, and taken on record thereafter. =============... ... ...

8. The Authority may grant leave of absence to a member not present in the meeting and such leave of absence shall be recorded in the minutes of the meeting. =============... ... ...

7. 1) Four members of the Authority shall constitute the quorum for the transaction of business at a meeting of the Authority. 2) All questions which come up before any meeting of the Authority shall be decided by a majority vote of the members present and voting and in the event of any equality of votes, the Chairperson, or in his absence, the member presiding, shall have a second or casting vote. =============... ... ...

6. 1) Not less than seven working days' notice shall ordinarily be given of each meeting of the Authority and such notice along with agenda papers shall be sent to every member at least seven working days in advance at his or her usual address in India as furnished by him to the Authority.: Provided that if an emergency meeting of the Authority is required to be convened, seven working days' notice may not be required. However, sufficient notice shall be given to the member to enable him ... ... ...

5. Meetings of the authority shall be held at such times and places in India as may be specified in the notice convening the meeting. =============... ... ...

4. The Chairperson or if he is unable to attend the meeting of the Authority, for any reason, any other member chosen by the members present at the meeting, shall preside over the meeting. =============... ... ...

Chapter II Meetings of the Authority 3. 1) Meetings of the Authority shall be convened at least once in each quarter of the year by the Chairperson or in his absence, by any member nominated by the Chairperson, in this behalf. 2) Any three members may require the Chairperson to convene a meeting of the Authority at any time and the Chairperson shall convene the meeting of the Authority accordingly; Provided that if the Chairperson is not available, any three members may require t... ... ...

2. (1) In these regulations, unless the context otherwise requires:- (a) "Act" means the International Financial Services Centres Authority Act, 2019 (50 of 2019); (b) "Authority" means the members of the Authority as constituted under section 4 of the International Financial Services Centres Authority Act, 2019 (50 of 2019); (c) "Chairperson" means Chairperson of the Authority; (d) "Member" means a Member of the Authority and includes the Chairperson; ... ... ...

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 12th November, 2020 International Financial Services Centres Authority (Procedure for Authority Meetings) Regulations, 2020 IFSCA/2020-21/GN/REG002.-In exercise of the powers conferred by section 8 of the International Financial Services Centres Authority Act, 2019 (50 of 2019), the International Financial Services Centres Authority hereby makes the following regulations, namely: - Chapter 1 Prelim... ... ...

Banking Units in International Financial Services Centres require a licence, minimum starting capital maintained on an unimpaired basis, home-regulator approval, and a Parent Bank liquidity undertaking. They must comply with prudential requirements on liquidity, leverage and exposure limits, while operating mainly in freely convertible foreign currencies. Eligible persons may maintain foreign currency accounts subject to prescribed conditions, and Banking Units may undertake lending, investment, trade finance, derivatives, foreign portfolio investor and clearing-related activities. Know Your Customer, anti-money laundering, reporting, record-maintenance and licensing-condition compliance are mandatory.

SHRI B.R. BASKARAN (AM) AND SHRI NARENDER KUMAR CHOUDHRY (JM) For the Assessee: Shri Siddharth Kothari For the Department: Shri Naganath B. Pasale ORDER  Per B.R.Baskaran (AM) :- The assessee has filed this appeal challenging the order dated 31.3.2023 passed by the learned CIT(A)-2, Udaipur and it relates to A.Y. 2014-15. The assessee is aggrieved by the decision of the learned CIT(A) in confirming the addition of Rs. 20,06,535/- relating to the sale value of the shares sold ... ... ...

GST practitioner enrolment under Section 48 of the Delhi Goods and Services Tax Act, 2017 is assigned to Sanjeev Gupta, Assistant Commissioner. He is designated as the proper officer for enrolling GST practitioners, replacing the previously assigned Assistant Commissioner following his transfer.