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Genuine Mutual Fund Transactions with Records Cannot Be Disallowed | ITAT
Case Details: Deputy Commissioner of Income-tax v. CMS Computers Ltd - [2025] 177 taxmann.com 669 (Mumbai - Trib.) Judiciary and Counsel Details Amit Shukla, Judicial Member Girish Agrawal, Accountant Member Annavaran Kasuri, Sr AR for the Appellant Pratik Jain for the Respondent Facts of the Case Assessee was a limited company. It filed its return […]
Income-tax (Twenty-Fifth Amendment) Rules, 2025
Publish Date : Monday, September 1, 2025 source
ICAI’s Audit Quality Maturity Model (AQMM 2.0) – Applicability to PIEs and Trusts
[2025] 178 taxmann.com 3 (Article) – CA. Dindayal Dhandaria 1. Introduction On 11th August 2025, the Institute of Chartered Accountants of India (ICAI) issued the Audit Quality Maturity Model (AQMM) Version 2.0. This framework is applicable, inter alia, to practice units where peer-review is to be conducted on or after 1st April 2027, provided such […]
SEBI Issues Clarifications On Cybersecurity And Resilience Norms
Circular No. SEBI/HO/ ITD-1/ITD_CSC_EXT/P/CIR/2025/119, Dated: 28.08.2025 1. Introduction The Securities and Exchange Board of India (SEBI) has issued a circular providing technical clarifications to the Cybersecurity and Cyber Resilience Framework (CSCRF) applicable to regulated entities. The framework is aimed at strengthening the resilience of market intermediaries and ensuring consistency in implementation across various categories of […]
Order under clause (iia) of sub-section (1) of section 35 of the Income Tax Act. 1961 read with Rule 5F of the Income Tax Rules 1962
Publish Date : Wednesday, August 27, 2025 source
GSTN Enhances System For Refunds Under ASSORD Category
GSTN Advisory, Dated 28-08-2025 1. Introduction The Goods and Services Tax Network (GSTN) has issued an advisory detailing system changes in refund applications under the category “On account of Assessment/Enforcement/Appeal/Revision/Any Other Order” (ASSORD). These updates are designed to simplify the refund process and ensure that taxpayers can claim refunds with greater ease and accuracy. The […]
HC Rules Seizure Invalid If Updated E-Way Bill Shown
Case Details: Raj Rajeshwari Tecchno Fab (P.) Ltd. vs. Additional Commissioner Grade 2 Appeal 6 State Tax Kanpur - [2025] 177 taxmann.com 514 (Allahabad) Judiciary and Counsel Details Piyush Agrawal, J. Aditya Pandey for the Petitioner Facts of the Case The petitioner, a registered dealer, was transporting goods when the vehicle was intercepted by the jurisdictional […]
Revenue Recognition In Highway Development Under Ind AS 115
1. Question InfraBuild Limited (hereinafter referred as “the Company”) entered into a 20-year service concession arrangement with the State Government (hereinafter referred as “the Grantor”) to design, construct, operate, and maintain a new six-lane highway connecting two industrial hubs. The project is divided into two phases: a three-year construction period and a subsequent 17-year operation […]
Cash Deposit in Another’s Account Held Benami | ITAT
Case Details: Om Samriddhi Banquet & Hospitality LLP vs. Initiating Officer, ACIT Benami Prohibition Unit, Mumbai - [2025] 177 taxmann.com 435 (SAFEMA - New Delhi) Judiciary and Counsel Details G.C. Mishra & Rajesh Malhotra, Member Misha Rohatgi Mohta, Bharat Monga & Dhananjay S. , Advs. for the Appellant Manmeet Singh Arora, SPP for the Respondent Facts of […]
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