8. (1) An entity seeking registration as a FME shall at all times comply with the net worth requirements as specified in Second Schedule of these regulations or such other amount as may be specified by the Authority. (2) An entity operating as a branch shall at all times comply with the minimum net worth requirements specified in these regulations for its activities in IFSC which may be maintained at the level of the parent entity, and the parent entity shall ensure that adequate funds ar... ... ...

7. (1) The applicant shall designate a principal officer who shall be responsible for overall activities of the FME including but not limited to fund management, risk management and compliance. (2) In case of Registered FME, in addition to the principal officer, one (1) additional KMP shall be designated as Compliance Officer who shall be responsible for compliance with these regulations and ensure implementation of risk management policies and practices at the FME. (3) In case of Regi... ... ...

6. (1) The applicant shall have a sound track record and general reputation of fairness and integrity in all its business transactions. (2) For the purposes of sub-regulation (1) "sound track record" shall mean: (a) In case of Registered FME (Retail): (i) The FME, its holding company, or their subsidiaries, shall have at least five (5) years of experience in collectively managing Assets under Management (AUM) of at least USD 200 million with more than twenty-five thousan... ... ...

SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER For the Assessee : Shri R.S. Singhvi, CA & Shri Rajat Garg, CA For the Revenue : Shri Om Parkash, Sr. DR ORDER These two appeals are filed by the assessee against different orders of the Ld. CIT(A)-28, New Delhi for the assessment years 2013-14 and 2014-15. 2. These two appeals are filed with the delay of 1944 and 1596 days respectively. Ld. Counsel for the assessee referring to the affidavit of the Director of the assessee company subm... ... ...

5. (1) The applicant shall be set up in IFSC in the form of a company or LLP or branch thereof or any other form as may be permitted by the Authority: Provided that a Registered FME (Retail) shall not be permitted in the form of an LLP or branch thereof: Provided further that the branch structure is permitted only for a FME which is already registered or regulated by a financial sector regulator in India or a foreign jurisdiction for conducting similar activities. (2) A FME operatin... ... ...

4. For obtaining a certificate of registration under these regulations, the applicant shall meet the requirements and the conditions specified in this Chapter. =============... ... ...

CHAPTER II REGISTRATION OF FUND MANAGEMENT ENTITY (FME) 3. (1) Any entity, desirous to undertake the business of fund management under these regulations shall not commence operations in an IFSC unless it has obtained a certificate of registration from the Authority as a FME under any of the categories mentioned in sub-regulation (4). (2) An entity desirous of obtaining a certificate of registration as a FME in IFSC shall submit an application form including the declarations and unde... ... ...

2. . (1) In these regulations, unless the context otherwise requires, the terms defined herein shall bear the meanings as assigned below, and their cognate expressions and variations shall be construed accordingly, - (a) "Act" means the International Financial Services Centres Authority Act, 2019 (50 of 2019); (b) "accredited investor" means any person who fulfils the eligibility criteria as specified by the Authority; (c) "advertisement" shall include all forms of ... ... ...

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 10th February, 2025 INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY (FUND MANAGEMENT) REGULATIONS, 2025 F. No. IFSCA/GN/2025/002 .- In exercise of the powers conferred by sub-section (1) of Section 28 read with sub-section (1) of Section 12 and sub-section (1) of Section 13 of the International Financial Services Centres Authority Act, 2019; Section 28C of the Securities and Exchange Board of India Act, ... ... ...

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 10th February, 2025 INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY (FUND MANAGEMENT) REGULATIONS, 2025 F. No. IFSCA/GN/2025/002 .- In exercise of the powers conferred by sub-section (1) of Section 28 read with sub-section (1) of Section 12 and sub-section (1) of Section 13 of the International Financial Services Centres Authority Act, 2019; Section 28C of the Securities and Exchange Board of India Act, ... ... ...

Jammu, Sep 11 (PTI) Bank employees affiliated with seven major unions under the United Forum of Bank Unions (UFBU) observed a one-day strike here on Friday to press for immediate implementation of a five-day banking week and settlement of their long-pending demands. The employees held protests in front of the RBI regional office in Jammu. The unions have announced further agitation, including a five-day strike from September 26 to 30 and an indefinite strike from October 26 if the govern... ... ...

THE HON'BLE MRS.JUSTICE B.V. NAGARATHNA AND THE HON'BLE MRS.JUSTICE M.G.UMA For the Appellant : (By Sri: Aravind K.V., Advocate (Ph)) For the Respondent : (By Sri: Ravi Raghavan, Advocate (Vc)) JUDGMENT Though the matter is listed for preliminary hearing, with the consent of learned counsel for both sides, it is heard finally. 2. Learned counsel for the appellants drew our attention to paragraph 3 of the impugned order dated 02/01/2020 passed in Writ Petition No.38798 of 2019 and ... ... ...

For Part B applicable to NPOs, residual income is computed from total income determined without applying that Part, after deducting regular income and specified income. The resulting balance constitutes residual income for the NPO framework.

Refund functions under section 54 of the Delhi Goods and Services Tax Act, 2017 are assigned to specified proper officers according to pecuniary and territorial jurisdiction. Assistant Commissioners and GSTOs decide claims up to the prescribed lower threshold, while senior proper officers decide claims exceeding it. Online higher-value applications must be placed before the competent senior officer. If refund rejection entails recovery of ineligible input tax credit, the matter must be referred to the jurisdictional proper officer or ward officer.

Goodwill and business or commercial rights acquired when an undertaking is transferred as a going concern through slump sale qualify as depreciable intangible assets under Section 32(1)(ii). Consideration may arise from assuming and discharging liabilities exceeding tangible-asset value, and accounting treatment does not determine tax treatment. The sixth proviso to Section 32(1) does not apply where the goodwill was not a depreciable asset in the transferor's books. Write-offs of transferred receivables, advances and loans require evidence of ordinary-course origin, prior income recognition where relevant, and business-purpose advances; the claim requires fresh factual examination.

Approved resolution plans that result in a change of management or control extinguish a corporate debtor's liability for pre-CIRP offences, preventing continued statutory adjudication and monetary penalties for those defaults. Promoter-directors involved in day-to-day management remain liable for fraudulent financial reporting, an improper buy-back, and a purported acquisition used to settle related-party dues. Non-disposable undertakings, pledges and irrevocable powers restricting dealings in shares constitute encumbrances requiring takeover-law disclosure. Unexplained adjudicatory delay, though not invalidating proceedings, mitigates penalties. Monetary sanctions must be proportionate, supported by material on gain, investor loss, repetitive conduct and existing market-access restrictions.

Inter-State supplies to unregistered persons and composition taxable persons must be reported place of supply-wise in FORM GSTR-3B and FORM GSTR-1, with correct customer State details and tax-invoice disclosures. ITC auto-populated from FORM GSTR-2B must be adjusted for ineligible and reversed credit before net ITC is credited to the electronic credit ledger. Permanent reversals and blocked credit are reported in Table 4B(1), while temporary reclaimable reversals are reported in Table 4B(2) and may be reclaimed after applicable conditions are met.

PFUTP Regulations prohibit transactions that artificially affect securities prices, create a false or misleading appearance of trading, disseminate materially misleading information likely to induce securities dealings, or otherwise employ fraud in securities transactions. A preferential allotment to related shareholders, followed by a buyback announcement at a substantially higher price despite inadequate resources, withdrawal without corresponding public advertisement, dematerialisation and substantial share offloading, was treated as an orchestrated scheme. The resulting abnormal price and volume movements artificially created demand and induced investor purchases, constituting market manipulation, misleading information and unfair trade practices; the participants were restrained from securities-market access and dealings for two years.

Lending of securities under the Securities Lending Scheme, 1997 is a taxable GST service because temporary lending for a fee does not involve disposal of securities. The lender's fee is consideration, while intermediary services facilitating lending and borrowing for commission or fees are separately taxable. For the earlier period, the lender was liable under forward charge; from 1 October 2019, the borrower is liable to pay IGST under the reverse charge mechanism.

Appellate authorities may admit and adjudicate additional grounds for dividend exemption and depreciation on Government securities even where those claims were omitted from the original return and not raised before the Assessing Officer. The restriction recognised in Goetze (India) Ltd. applies to the Assessing Officer's power to accept a fresh claim without a revised return; it does not limit statutory appellate jurisdiction. Because appellate proceedings aim to determine the correct tax liability, the appellate authority has broad power to consider such additional claims on their merits. Refusal to entertain them was unsustainable.