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SEBI Proposes Measures to Strengthen the Framework for ‘ESG Rating Providers’
Consultation Paper; Dated: 13.02.2025 SEBI has released a Consultation Paper seeking public comments on the proposals to strengthen ‘ESG Rating Providers’ (ERPs). ESG stands for environmental, social and governance. SEBI has proposed the circumstances under which ERPs can withdraw ratings under the Subscriber-Pays business model and an Issuer-Pays business model. Under the Subscriber-Pays business model, […]
RBI Expands Scope of Permissible Contracts for Sale or Purchase of Govt. Securities, Gold-Related & Money Market Securities
Notification no. F. No. FMRD.DIRD.14/14.03.042/2024-25; Dated: 07.02.2025 The RBI has expanded the scope of permissible contracts for the sale or purchase of Government securities, gold-related securities and money market securities. Now, any contract specifically permitted by the RBI is included under the list of permissible contracts. Earlier, the permissible contracts included only spot contracts and […]
Executive Summary on the Comprehensive Simplification of the Income-tax Act, 1961
Details : Publish Date : Thursday, February 13, 2025 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1219/Executive-Summary-on-the-Comprehensive-Simplification-of-the-Income-tax-Act-1961-PressRelease-13-2-25.pdf source
Accounting Failures in R&D and Impairment Losses | Insights From Real-World Cases
This document focuses on the misapplication of Indian Accounting Standards (Ind AS), particularly Ind AS 38 and Ind AS 36, regarding the treatment of R&D expenditures and impairment losses. It examines how improper capitalization of R&D costs and the failure to recognize impairment losses in a timely manner can distort financial statements, leading to inflated […]
RBI Revises Standing Liquidity Facility for Primary Dealers to Repo Rate of 6.25%, Effective Immediately
Circular No. RBI/2024-25/110 REF.No.MPD.BC.398/07.01.279/2024-25, Dated: 07.02.2025 As per the MPC’s decision in the bi-monthly Monetary Policy Statement 2024-25, RBI has reduced the policy repo rate under the LAF by 25 basis points from 6.50% to 6.25%, effective immediately. Consequently, the Standing Liquidity Facility provided to Primary Dealers (PDs) as collateralized liquidity support from the RBI […]
[Opinion] Curtains to Evergreening of Tax Losses
CA Subham Kumar & CA Sarath Karthick R – [2025] 171 taxmann.com 254 (Article) 1. Introduction The Finance Bill 2025 proposes a major change in the realm of mergers and acquisitions (M&As), particularly focusing on the carry-forward of tax losses. This budget introduces pivotal amendments that redefine the treatment of accumulated losses within corporate restructuring […]
Accounting for Safety and Environmental Upgrades Expenditure Under Ind AS Framework
Safety and environmental upgrades, often required by government regulations, include enhancements such as improving chemical storage tanks, installing waste management systems, and upgrading ventilation systems to meet safety and environmental compliance standards. Safety and environmental costs are incurred to ensure regulatory compliance, maintain safe business operations, and reduce environmental risks. These costs play a vital […]
CCI Finds PSU – IREL (India) Ltd. Dominant in Beach Sand Ilmenite Market but Rules Out Abuse of Dominance
Case Details: Beach Mineral Producers Association v. IREL (India) Ltd. - [2025] 170 taxmann.com 849 (CCI) Judiciary and Counsel Details Ms Ravneet Kaur, Chairperson, Anil Agrawal, Ms Sweta Kakkad & Deepak Anurag, Members Tarun Gulati, Sr. Adv., Abhay Joshi, Ms Aayushi Sharma, Ms Bhaavi Agrawal, Pavan Kalyan and Ms Shruti, Advs. & G. Balasubramanian, General Manager of IREL (India) Ltd. for the […]
Appeal Against Acceptance of CIRP Plea u/s 7 Dismissed as CD or Guarantor Failed to Show Any Error in NCLT’s Admission
Case Details: Seeta Shah vs. ICICI Bank Ltd. - [2025] 170 taxmann.com 815 (NCLAT-New Delhi) Judiciary and Counsel Details Justice Ashok Bhushan, Chairperson & Barun Mitra, Technical Member Abhijeet Sinha, Sr. Adv., Ms Shaista Pathan, Bhavya Sethi & Tushar Bagga, Advs. for the Appellant. Krishnendu Datta, Sr. Adv., Nitesh Jain, Prakshal Jain, Kartikeya Yadav, Ms Pooja Mahajan, Savar Mahajan & Ms Komal, Advs. for the Respondent. […]
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