• February 15, 2025

This document focuses on the misapplication of Indian Accounting Standards (Ind AS), particularly Ind AS 38 and Ind AS 36, regarding the treatment of R&D expenditures and impairment losses. It examines how improper capitalization of R&D costs and the failure to recognize impairment losses in a timely manner can distort financial statements, leading to inflated […]

• February 14, 2025

Circular No. RBI/2024-25/110 REF.No.MPD.BC.398/07.01.279/2024-25, Dated: 07.02.2025 As per the MPC’s decision in the bi-monthly Monetary Policy Statement 2024-25, RBI has reduced the policy repo rate under the LAF by 25 basis points from 6.50% to 6.25%, effective immediately. Consequently, the Standing Liquidity Facility provided to Primary Dealers (PDs) as collateralized liquidity support from the RBI […]

• February 13, 2025

CA Subham Kumar & CA Sarath Karthick R – [2025] 171 taxmann.com 254 (Article) 1. Introduction The Finance Bill 2025 proposes a major change in the realm of mergers and acquisitions (M&As), particularly focusing on the carry-forward of tax losses. This budget introduces pivotal amendments that redefine the treatment of accumulated losses within corporate restructuring […]

• February 12, 2025

Safety and environmental upgrades, often required by government regulations, include enhancements such as improving chemical storage tanks, installing waste management systems, and upgrading ventilation systems to meet safety and environmental compliance standards. Safety and environmental costs are incurred to ensure regulatory compliance, maintain safe business operations, and reduce environmental risks. These costs play a vital […]

• February 11, 2025

Case Details: Beach Mineral Producers Association v. IREL (India) Ltd. - [2025] 170 taxmann.com 849 (CCI) Judiciary and Counsel Details Ms Ravneet Kaur, Chairperson, Anil Agrawal, Ms Sweta Kakkad & Deepak Anurag, Members Tarun Gulati, Sr. Adv., Abhay Joshi, Ms Aayushi Sharma, Ms Bhaavi Agrawal, Pavan Kalyan and Ms Shruti, Advs. & G. Balasubramanian, General Manager of IREL (India) Ltd. for the […]

• February 10, 2025

Case Details: Seeta Shah vs. ICICI Bank Ltd. - [2025] 170 taxmann.com 815 (NCLAT-New Delhi) Judiciary and Counsel Details Justice Ashok Bhushan, Chairperson & Barun Mitra, Technical Member Abhijeet Sinha, Sr. Adv., Ms Shaista Pathan, Bhavya Sethi & Tushar Bagga, Advs. for the Appellant. Krishnendu Datta, Sr. Adv., Nitesh Jain, Prakshal Jain, Kartikeya Yadav, Ms Pooja Mahajan, Savar Mahajan & Ms Komal, Advs. for the Respondent. […]

• February 8, 2025

Case Details: ITO (International Taxation) vs. Hartaj Sewa Singh - [2025] 171 taxmann.com 18 (Kolkata-Trib.) Judiciary and Counsel Details Sanjay Garg, Judicial Member & Rakesh Mishra, Accountant Member Sunil Surana, AR. for the Appellant. Ruchika Sharma, Sr. DR. for the Respondent. Facts of the Case Assessee is working as an investment banker and strategic management consultant. During […]

• February 7, 2025

Case Details: Bipin J. Bagadia vs. Grand View Estates (P.) Ltd. - [2025] 170 taxmann.com 850 (HC-Bombay) Judiciary and Counsel Details M.S. Sonak & Jitendra Jain, JJ. Mohit Khanna & Vaibhav Jagdale, for the Appellant. Virag Tulzapurkar, Cyrus Ardeshir, Sr. Advs., S.A.K. Najam-essani, Ms Pooja Shah, Maneksha, Sethna, Advs., Ranjiv Carvalho, Smt. Aparna Thipsay, Amir Arsiwala, Rahul Gupta, Yash Jariwala & Neha Samji for the Respondent. Facts of […]

• February 6, 2025

Case Details: Tvl. S S Enterprises Electricals v. State Tax Officer - [2025] 170 taxmann.com 734 (Madras) Judiciary and Counsel Details Mohammed Shaffiq, J. Abdul Rahman for the Petitioner. Ms Amrita Dinakaran, Govt. Adv. for the Respondent. Facts of the Case The petitioner was engaged in works contract and dealer in electrical transformers, static converters and is […]