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Best Judgment Assessment Cannot Stand if Return Filed in 30 Days | HC
Case Details: JPR Projects v. State of Andhra Pradesh - [2025] 177 taxmann.com 788 (Andhra Pradesh) Judiciary and Counsel Details R. Raghunandan Rao & T.C.D. Sekhar, JJ. Jyothi Ratna Anumolu for the Petitioner Facts of the Case The petitioner, a registered person under GST, was issued a best judgment assessment order dated 07.02.2024 under Section 62(1) […]
CBDT further extends the due date of filing of ITRs which were due for filing by 31st July 2025 (already extended to 15th September 2025)
Publish Date : Monday, September 15, 2025 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1229/Press-Release-CBDT-further-extends-the-due-date-of-filing-of-ITRs-which-were-due-for-filing-by-31-July-2025.pdf source
[World Tax News] Sri Lanka Partners with Global Forum to Combat Tax Evasion
Editorial Team – [2025] 178 taxmann.com 480 (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. Sri Lanka joins the Global Forum to strengthen efforts against tax evasion Sri Lanka has joined the international efforts […]
Notification of Ghaziabad Development Authority under Section 10(46A)
Publish Date : Monday, September 15, 2025 source
RBI Issues FAQs on Inter-Operable Regulatory Sandbox for Innovators
FAQs dated 17.09.2025 1. Introduction The Reserve Bank of India (RBI) has released a set of Frequently Asked Questions (FAQs) on the Inter-operable Regulatory Sandbox (IoRS). This initiative is designed to provide clarity to potential participants and encourage innovation in the financial sector. By addressing common queries, the RBI aims to make the sandbox process […]
Accounting For Liquidated Damages And Bank Guarantees Under Ind AS
1. Question A wholly owned Government company (hereinafter referred to as”the company”) engaged in construction and operation of thermal power plants has constructed two additional supercritical units of 660 MW each adjacent to its existing units. The construction was awarded to various contractors, including Contractor X Ltd. for the Balance of Plant (BOP) package. X […]
[Analysis] Ind AS 7 Cash Flow Reporting – Errors | Solutions | Best Practices
Ind AS 7 Cash Flow Statement is the Indian Accounting Standard that requires companies to present information on historical changes in cash and cash equivalents through a structured statement of cash flows. It classifies cash movements into operating, investing, and financing activities, enabling stakeholders to assess a company's liquidity, financial health, and ability to generate […]
India–US Advance Pricing Agreement – APA Programme Boosting Trade and Tax Certainty
Sanket Agarwal – [2025] 178 taxmann.com 293 (Article) As tariffs cast a shadow on one of the world’s most dynamic trade partnerships, India’s Advance Pricing Agreement (APA) programme is quietly building trust and certainty in bilateral economic relationship. The trade winds between India and the United States have turned rough with Trump’s decision to impose […]
HC Rules Penalty Under Section 129(3) Requires Goods Evaluation
Case Details: Aaria Enterprises vs. State of Bihar - [2025] 177 taxmann.com 845 (Patna) Judiciary and Counsel Details P. B. Bajanthri & Shailendra Singh, JJ. D.V. Pathy, Sr Adv., Sadashiv Tiwari, Hiresh Karan, Ms Shivani Dewalla, Roshan Jha & Riddhiman Mukherjee, Advs. for the Appellant Facts of the Case The petitioner challenged an order passed under section 129(3) […]
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