SC Quashes FIR Against Bank Manager Not Involved in Land Acquisition Suppression
Case Details: Sivakumar vs. Inspector of Police [2025] 173 taxmann.com 874 (SC) Judiciary and Counsel Details Vikaram Nath & Sandeep Mehta, JJ. Facts of the Case In the instant case, the complainant participated in a public auction of mortgaged property and purchased it. Consequently, the Sale certificate was handed over to the complainant. However, when […]
SEBI Empanels 9 Audit Firms to Strengthen Corporate Fraud Investigations
SEBI has streamlined its panel of forensic auditors, reducing the number of firms from twenty to nine for investigating corporate fraud. The selected firms will serve for a three-year term. Deloitte is the only Big Four firm included, with KPMG, EY, and PwC absent. Other selected firms include BDO, Chokshi & Chokshi, CNK and Associates, […]
Assessee is Directed to Clear Outstanding Dues to Enable Registration of Sale Certificate for Auctioned Property | HC
Case Details: Cholamandalam Investment and Finance Company Ltd. vs. Assistant Commissioner, Karur – 2 – [2025] 173 taxmann.com 450 (Madras) Judiciary and Counsel Details Vivek Kumar Singh, J. V. Sukumar, for the Petitioner. J.K. Jayaselan, Government Adv., R. Suresh Kumar, Addl. Govt. Pleader & P. Dhanasekaran for the Respondent. Facts of the Case The petitioner’s loan accounts […]
SEBI Issues Updated FAQs on LODR Norms, Covering Disclosures, Secretarial Audit, and Related Party Norms
FAQs; Dated: 23.04.2025 SEBI has released comprehensive FAQs updated as of April 23, 2025, to clarify the SEBI (LODR) Regulations, 2015. The FAQs cover new secretarial audit norms, mandatory disclosures (including forensic audits and BRSR Core), and minimum public shareholding norms. They also address the applicability of related party definitions, financial result formats, ESG assurance […]
Accounting Treatment and Classification of Accumulated Unused Annual Leave Under Ind AS Framework
This document explores the accounting treatment and classification of accumulated unused annual leave under the Indian Accounting Standards (Ind AS) framework, specifically referencing Ind AS 19. The company currently classifies its unused leave liability as a short-term employee benefit, even though employees typically accumulate leave over an extended period, often using or encashing it after […]
HC Upheld Provisional Attachment of Movable and Immovable Properties to Protect Revenue Interest Due to Fraudulent ITC
Case Details: Shree Dhanlaxmi Metal Industries vs. State of Gujarat – [2025] 173 taxmann.com 559 (Gujarat) Judiciary and Counsel Details Bhargav D. Karia & Niral R. Mehta, JJ. Saurabh Soparkar, Sr. Adv. & Hardik V Vora for the Petitioner. Ms Shrunjal Shah, AGP for the Respondent. Facts of the Case The petitioner, a registered taxpayer under […]
SEBI Proposes to Relax Listed Entities From Sending Hard Copies of Financials to Non-Convertible Securities Holders
Draft Circular; Dated: 21.04.2025 SEBI has issued a draft circular seeking public comments to relax listed entities from sending hard copies of financials to holders of non-convertible securities, who haven’t registered their email addresses, as mandated under Reg. 58(1)(b) of the SEBI (LODR) Regulations. The listed entities must disclose a web link to their financials […]
[Analysis] Consumer Protection Act – CCPA Targets Coaching Centres’ Promises
Misleading coaching advertisements are promotional claims by coaching centres that falsely guarantee ranks or selection, exaggerate success rates, hide fees or course details, or omit key facts—actions barred by Section 2(28) of the Consumer Protection Act 2019 and the 2024 Guidelines on coaching‑sector advertising. Table of Contents Introduction Mandatory Disclosures to Ensure Transparency in Coaching Advertisements Overview […]
Rights of Data Principals under the DPDP Act 2023
Under the Digital Personal Data Protection Act (DPDP Act), 2023, Data Principals—i.e., individuals to whom the personal data relates—are granted specific rights to empower them and ensure greater control over their personal information. These rights form the core of the Act’s data protection framework and mandate corresponding duties for Data Fiduciaries (i.e., entities that determine […]
[World Tax News] Norway Proposes ‘Tourism Tax’ on Overnight Accommodation and More
Editorial Team – [2025] 173 taxmann.com 631 (Article) World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week: (a) Norway proposes ‘Tourism Tax’ on overnight accommodation; (b) France clarifies reporting & payment procedures for new tax on capital […]