SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER For the Assessee : Shri Rushabh Mehta For the Respondent : Shri Yogendra T. Wakare (Sr. DR) ORDER Instant appeal of the assessee was filed against the order of the Learned National Faceless Appeal Centre (NFAC), Delhi [for brevity, 'Ld. CIT(A)'] passed under section250of the Income-tax Act, 1961 (in short, 'the Act') for Assessment Year 2015-16, date of order 28.06.2023. The impugned order was emanated f... ... ...

Temporary and contractual appointments may be made by the competent authority to meet work exigencies on suitable terms. Temporary employees' conditions cannot be more favourable than those applicable to appointments of equivalent status or responsibility. Grade B and above employees may be taken on deputation for a specified period where work exigencies exist or suitable internal candidates are unavailable, with possible permanent absorption on conditions specified by the competent authority. Executive Director appointments by deputation or contract require Authority approval before an offer is issued.

IFSCA employees must subscribe to the New Pension Scheme, with compulsory employee contributions and corresponding IFSCA contributions. Employees may choose their Pension Fund Manager and investment option, while additional voluntary contributions do not increase IFSCA's contribution. Group Mediclaim Floater coverage, funded by IFSCA, extends to eligible staff and dependent family members subject to grade-based cover, dependency conditions, declarations, and renewal procedures. Delayed submission or non-refund of medical advances attracts interest, and claims without advances must be submitted within the prescribed period after discharge.

Annexure 1 RECRUITMENT RULES FOR VARIOUS APPOINTMENTS IN INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY [(Refer Sub-Regulation (4) of Regulation (6) of Service Regulations] S.No. Particulars Description 1. Number of sanctioned posts of Executive Director 06 2. Mode of Recruitment & proportion of posts to be filled up through different modes (a) 75% of sanctioned posts to be filled on promotion failing which Deputation. (b) 25% of the sanctioned posts shall... ... ...

Every employee covered by the International Financial Services Centres Authority (Employees' Service) Regulations, 2020, including an employee opting to come under them, must subscribe to declarations in forms prescribed by the Authority.

Mandatory subscription to an insurance scheme or fund instituted by the Authority applies to every employee governed by the Employees' Service Regulations, subject to the rules of that scheme or fund. Such subscription cannot curtail superannuation benefits otherwise admissible to an employee. Employees exempted under the applicable scheme or fund rules are not required to subscribe.

Subscription to the IFSCA New Pension Scheme requires employees to become members and comply with the Scheme Rules, unless otherwise specified. Whole-time employees joining from a specified date must exclusively join the Scheme. Whole-time employees absorbed on deputation who were CPF or GPF members before a specified date may elect, in the prescribed manner, to continue under CPF/GPF or join the IFSCA New Pension Scheme.

Regulation 93 provides gratuity on retirement, death, certified disablement, resignation after five years of continuous service, and non-punitive termination after five years. Employees with less than ten years of continuous service receive gratuity under the Payment of Gratuity Act, 1972. Those completing at least ten years receive gratuity under rules prescribed by the Authority, but not below the statutory amount. The Authority may create a gratuity trust.

Deputation and external assignment of an Authority employee to another employer require the Authority's approval and remain subject to terms and conditions specified by it. An employee cannot be sent on deputation or external assignment against that employee's will.

Deputation of employees to military service may be undertaken on terms and conditions determined by the Authority. The Authority prescribes the applicable conditions for employees deputed for such service.

Travelling and halting allowances for employees are payable at rates and subject to terms and conditions approved by the Authority from time to time. The allowance framework is governed by periodically approved rates and conditions.

Medical aid and related facilities must be provided to employees and eligible dependents under approved guidelines, which may cover illness, accidental injuries, hospitalisation and domiciliary treatment. Comprehensive health insurance may also be obtained for employees and dependents on determined terms. The Group Mediclaim Policy and National Pension System arrangements specified in Annexure-2 apply to employees.

Employee appeal rights permit challenge to penalties and suspension before the designated Appellate Authority. Appeals must be submitted within 45 days of receipt of the challenged order, in Hindi or English, using respectful language, stating all material facts and arguments, and specifying the relief sought. Appellate review extends to the justification for findings and the adequacy or excessiveness of the penalty. Enhancement to a major penalty requires a disciplinary inquiry or, where an inquiry has already occurred, a show-cause notice and opportunity to make a representation.

Vigilance cases alleging corrupt practices may involve investigation by the Central Bureau of Investigation, the Central Vigilance Commission, or another approved agency. Where a prima facie case arises, advice may be sought on disciplinary action, and the enquiry may be entrusted to a Commissioner for Departmental Enquiries or a nominated person. The Inquiry Officer's report is referred for advice on charges and penalties, while the competent authority determines the penalty after considering that advice. Corrupt practices include criminal misconduct and improper or corrupt exercise of powers.

Employee suspension may be ordered where disciplinary proceedings are contemplated or pending, or a criminal case is under investigation, inquiry or trial. Deemed suspension follows detention exceeding 48 hours or conviction resulting in imprisonment where service is not immediately terminated. Suspension may be modified or revoked, is ordinarily limited to 90 days, and may be exceptionally extended for a further limited period. Subsistence allowance is payable during suspension, with an enhanced rate where inquiry delay is not attributable to the employee. Where no disciplinary penalty is imposed, the employee receives the difference between subsistence allowance and ordinary emoluments.

Special disciplinary procedure permits the Competent Authority to impose any prescribed penalty despite ordinary procedural requirements where facts are established by a court of law or court martial, the employee has absconded, communication is impracticable, or other difficulties prevent compliance. Procedural requirements may be waived only without injustice to the employee, and written reasons are mandatory for every complete or partial waiver.

Common disciplinary proceedings may be directed by the Competent Authority where a case concerns two or more employees. The disciplinary proceedings against all such employees may then be conducted jointly through common proceedings.

Communication of disciplinary orders requires the Competent Authority's orders to be communicated to the employee concerned. Where an inquiry report exists, the employee must also be supplied with a copy of the report.

Minor-penalty proceedings require written notice of alleged lapses and an opportunity for the employee to submit a written defence within the specified period, subject to any extension granted by the Competent Authority. Any defence must be considered before an order is passed. If an inquiry is considered necessary, the procedure for imposing a major penalty applies. The record must include the imputations, defence statement, if any, and the Competent Authority's reasoned order.

The Competent Authority may remit a case for fresh or further inquiry, with written reasons, where it is not the Inquiry Officer. It must record reasons before disagreeing with findings on any charge and may make its own findings where the evidence on record is sufficient. Based on findings concerning all or any charges, it may impose an applicable disciplinary penalty or, where no penalty is warranted, exonerate the employee.