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Case Details: Ray Projects (P.) Ltd. vs. Board of Directors of Canara Bank - [2025] 179 taxmann.com 260 (HC-Bombay) Judiciary and Counsel Details R.I. Chagla & Farhan P. Dubash, JJ. Mathews Nedumpara, Ms Hemali Kurne & Satsang Tailor for the Petitioner. Atharva Bhilare, Ms Vrushali Kabre & Ms Vaishali Bhilare for the Respondent. Facts of the Case In the instant […]

An Audit Engagement is a formal arrangement between an auditor and an auditee (the entity being audited) under which the auditor is engaged to perform an audit of the auditee’s records, transactions, or statements. In essence, it represents the contractual understanding—usually documented through an Audit Engagement Letter—that outlines the objectives, scope, and responsibilities of both […]
Publish Date : Wednesday, October 8, 2025 source

Notification S.O. 4830(E), Dated: 22.10.2025 1. Notification on Municipal Debt Securities The Ministry of Finance has issued a notification specifying that Municipal Debt Securities are recognised for certain financial operations under the Reserve Bank of India (RBI) framework. 2. Definition of Municipal Debt Securities Municipal Debt Securities are defined under the Securities and Exchange Board […]

Case Details: Mahesh Fashion vs. State of U.P. - [2025] 179 taxmann.com 75 (Allahabad) Judiciary and Counsel Details Piyush Agrawal, J. Aditya Pandey & Akhil Agnihotri for the Petitioner. Ravi Shanker Pandey, ACSC for the Respondent. Facts of the Case The petitioner, a proprietorship concern, received a show cause notice under section 73 of the CGST/Uttar Pradesh […]

GSTN Advisory, Dated 17-10-2025 The Goods and Services Tax Network (GSTN) has rolled out a new functionality in the Invoice Management System (IMS) on the GST portal to simplify the handling of Credit Notes and Input Tax Credit (ITC) reversals by taxpayers. 1. New ‘Pending’ Option for Credit Notes Under the new enhancement, taxpayers can […]

Notification No. S.O. 4697(E); Dated: 16.10.2025 The Ministry of Finance (MoF) has issued a notification permitting intermediaries registered under SEBI’s KYC Registration Agency (KRA) Regulations to upload and retrieve KYC data on the Central KYC Records Registry (CKYCRR). 1. Mode of Access Under the revised framework, intermediaries may: Upload and retrieve KYC data directly on […]

Editorial Team – [2025] 179 taxmann.com 429 (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: 1. French Tax Authority publishes initial guidance on Pillar Two GloBE Rules implementation The French tax authority has released guidance on […]
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