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[Opinion] Mutual Agreement Procedure for Cross-Border Tax Disputes
D.C. Agrawal – [2025] 177 taxmann.com 383 (Article) 1. Introduction to Mutual Agreement Procedure (MAP) The Mutual Agreement Procedure (MAP) is a dispute resolution mechanism embedded in tax treaties, particularly under Article 25 of the OECD Model Tax Convention. It is designed to address cases where taxation is not in accordance with treaty provisions, often […]
HC denies ITC of compensation cess on coal used for township electricity supply
Case Details: Bharat Aluminium Company Ltd. vs. State of Chhattisgarh - [2025] 177 taxmann.com 108 (Chhattisgarh) Judiciary and Counsel Details SANJAY K. AGRAWAL, J. Bharat Raichandani, Arjyadeep Roy and K. Rohan, Advs. for the Petitioner. Rahul Tamaskar, Govt. Adv. for the Respondent. Fact of the Case The petitioner, an exporter of aluminium products, filed an application claiming refund of input […]
SEBI mandates joint inspections by MIIs to ease compliance for brokers and DPs
Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/113, Dated: 07.08.2025 SEBI Introduces Joint Annual Inspections for MIIs The Securities and Exchange Board of India (SEBI) has issued a directive requiring all Market Infrastructure Institutions (MIIs) — including Stock Exchanges, Depositories, and Clearing Corporations — to conduct joint annual inspections of brokers and Depository Participants (DPs). This initiative replaces the practice […]
SEBI proposes steps to boost resident Indian participation in FPIs via IFSC schemes
Consultation Paper Dated 08.08.2025 1. SEBI Seeks Public Comments on FPI Reforms The Securities and Exchange Board of India (SEBI) has released a Consultation Paper inviting public feedback on proposals aimed at facilitating greater participation of resident Indians in Foreign Portfolio Investors (FPIs). The initiative seeks to broaden investment opportunities and strengthen India’s engagement with […]
Global Financial Insights | FASB simplifies credit loss rules; PCAOB flags audit gaps
1. Overview of Global Financial Insights Weekly Feature Global Financial Insights is a weekly update available to Accounts and Audit Module subscribers of Taxmann.com. It delivers the latest developments in financial reporting and auditing practices from around the world, helping professionals stay informed of emerging trends and regulatory changes. This week’s edition covers key updates […]
HC upholds GST arrest & prosecution provisions citing SC ruling
Case Details: Rajesh Mittal vs. State of Haryana - [2025] 177 taxmann.com 9 (Punjab & Haryana) Judiciary and Counsel Details Mrs. Lisa Gill and Mrs. Sudeepti Sharma, JJ. Sardavinder Goyal and Rajiv Malhotra, Advs. for the Petitioner. Mrs. Mamta Singla Talwar, DAG, Saurabh Kapoor, Addl. AG and Sourabh Goel, Adv. for the Respondent. Fact of the Case The petitioners, in a matter placed […]
Retired partner liable if retirement not notified to authority | HC
Case Details:Harvinder Singh vs. State of Punjab - [2025] 176 taxmann.com 812 (Punjab & Haryana) Judiciary and Counsel Details Mrs. Lisa Gill and Mrs. Sudeepti Sharma, JJ. Amit Gupta, Adv. for the Petitioner. Saurabh Kapoor, Addl. AG for the Respondent. Fact of the Case The petitioner, in a matter placed before the High Court, was issued a notice following […]
Twentieth Amendment Rules 2025
Publish Date : Monday, July 28, 2025 source
ITAT nullifies assessment for lack of AO’s jurisdiction
Case Details: Vishan Gunna vs. ACIT - [2025] 176 taxmann.com 959 (Delhi - Trib.) Judiciary and Counsel Details ANUBHAV SHARMA, Judicial Member and Manish Agarwal, Accountant Member R. Mohan Kumar, Adv. for the Appellant. Abhishek Sharma, CIT DR for the Respondent. Fact of the Case The assessee was a non-resident Indian residing in the USA, having a […]
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