News Update

Nexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of AgencyGST implications for Corporate Debtor under IBCI-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HCBrazil’s proposal to tax super-rich globally finds many takers in G20 GroupI-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITATCPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence MinisterI-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITATBiden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliersI-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITATUS Poll: Biden trumps Trump in money race by USD 75 mnI-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITATNetanyahu says Israel to decide how and when to respond to Iran’s aggressionI-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITATGoogle slays costs by laying off staffers & shifting roles outside USI-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITATHeavy downpours drown Dubai; Airport issues travel advisoryCus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HCHM pledges to make India completely Maoist-freeGST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HCMicrosoft to inject USD 1.5 bn in AI Group G42 of UAEGST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HCCanadian budget proposes more taxes on higher income groups & tax credits for EVsGST - Petitioner has an appellate remedy against the impugned order - As petition was filed within the original period of limitation, it is just and appropriate that petitioner be permitted to present statutory appeal: HCWorld leaders appeal for quick ratification of UN Ocean TreatyGST - Once the notification itself has been declared as ultra vires, applying it would amount to applying an illegal notification: HCUK House debates ban on smokingGST - Transfer of development rights is amenable to GST and cannot be brought within the purview of Entry 5 of Schedule-III: HCGlobal economy to grow at 3.2% in current year and also 2025: IMFGST - Challenge to notification 11/2017-CTR clarifying the aspect of transfer of development rights being attracted to GST/TGST is devoid of merits: HCGreat Barrier Reef in Australia suffers serious bleachingGST - Conclusions were recorded in the assessment order without providing a personal hearing - Order set aside and matter remanded: HCUS to impose fresh sanctions on Iran’s missile programmeCus - Mere fact that Commissioner of Customs has filed an affidavit would not denude an officer, otherwise empowered under the Act/Rules to issue and adjudicate a SCN even though the officer may be below the rank of Commissioner: HCDelhi Police nabs woman for thieving luxury SUVsCus - As wife of appellant has already been penalized for the offence related to importation of BMW M5 Car, no reason found to impose penalty against appellant for same offence: CESTAT
 
Delhi Insurance Ombudsman Office gets ISO certification

By TIOL News Service

NEW DELHI, MAR 24, 2017: THE Delhi Insurance Ombudsman Office has been awarded ISO 9001:2015 certification by Standardisation, Testing and Quality Certification (STQC, established under Ministry of Electronics and Information Technology) for Quality Management Standard (QMS) here today. The function for awarding the certification was presided by Sh. P. N. Gandhi, Secretary General, GBIC, Mumbai who informed that out of 17 offices of the Insurance Ombudsman across the country, the Delhi office of Insurance Ombudsman has got the distinction of First Office being certified as ISO 9001 : 2015 office. He also apprised that as on 28.02.2017 a total of 27926 complaints have been received out of which 24140 complaints have been disposed off.

Certification is based on quality management principles including strong customer focus, motivation and continual improvement and review. With this standard certification, OIO, Delhi demonstrates its commitment to mediate for fair settlement of all complaints under its purview in efficient, impartial, consistent and transparent manner, as provided in the quality policy of the OIO, Delhi.

Speaking on the occasion, Smt. Sandhya Baliga, Insurance Ombudsman, Delhi also holding the charge of Bhopal, Chandigarh, Jaipur and Kochi Ombudsman, said that the ISO 9001:2015 certificate is the model for quality assurance and the fact that our office has been certified in this early stage of new certification system, proves beyond any doubt that we focus on customer satisfaction, process approach, conforming to regulatory requirements and active involvements of all the stake holders.   She also informed that a total of 8036 complaint have been disposed off till date by the Delhi office of Insurance Ombudsman after her taking over charge in July, 2014.

The Insurance Ombudsman institution was created by Government of India for individual policyholders for settlement of their complaints against Insurance Companies in a cost-effective, efficient and impartial manner. The office of Insurance Ombudsman, Delhi was the first Ombudsman Office established on 11.11.1999 with the jurisdiction of Delhi state to look in to complaints and disputes of individual policyholders being serviced by various insurance companies serving in the country. The Delhi Office of Insurance Ombudsman has received more than 1820 complaints during the current FY till 15.03.2017 and out of which 1742 had been disposed off till date.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.