• June 25, 2025

Case Details: Life Sciences Chemicals vs. Union of India - [2025] 175 taxmann.com 540 (Gujarat) Judiciary and Counsel Details Bhargav D. Karia & D.N. Ray, JJ. Hardik V. Vora for the Petitioner. Ankit Shah for the Respondent. Facts of the Case The petitioner, a sole proprietorship concern, was assigned leasehold rights in a plot situated in an […]

• June 24, 2025

Global accounting and professional services firms have raised significant concerns regarding the Institute of Chartered Accountants of India’s (ICAI) recent Exposure Draft on ‘Guidelines for Overseas Network’. Issued on June 6, 2025, the draft outlines stricter regulatory provisions for accounting networks, particularly those with international affiliations operating in India. The ICAI aims to bring greater […]

• June 23, 2025

Entrepreneurship in India refers to the process of creating, developing, and scaling innovative business ventures that contribute to the nation’s economic growth, job creation, and social transformation. It involves identifying market opportunities, mobilising resources, managing risks, and delivering value through new or improved products, services, or processes. Table of Contents Make in India Stand up […]

• June 22, 2025

Case Details: Sundyne Pumps and Compressors India (P.) Ltd. vs. Union of India - [2025] 175 taxmann.com 685 (Bombay) Judiciary and Counsel Details B.P. Colabawalla & Firdosh P. Pooniwalla, JJ. Prakash Shah, Sr. Adv., Jas Sanghavi, Mohit Raval & Vikas Poojary, Advs. for the Petitioner. Ms S. D. Vyas, Addl. G.P. & Aditya Deolekar, AGP for the Respondent. Facts of […]

• June 21, 2025

Consultation paper; Dated: 17.06.2025 The Securities and Exchange Board of India (SEBI) has issued a consultation paper proposing several changes to enhance the existing accreditation framework for Alternative Investment Funds (AIFs). The proposed changes aim to streamline the process, improve regulatory oversight, and facilitate ease of doing business. 1. Current Status of Accreditation Agencies Under […]

• June 20, 2025

Case Details: Kapil Kumar Khattar vs. Union of India - [2025] 173 taxmann.com 629 (Jammu & Kashmir and Ladakh) Judiciary and Counsel Details Sanjeev Kumar & Puneet Gupta, JJ. Ajay Kumar Vali & Raghav Gaind, Advs. for the Petitioner. Vishal Sharma, DSGI for the Respondent. Facts of the Case The petitioner, a government contractor, filed a review […]

• June 19, 2025

1. Question Techworks Manufacturing Limited (hereinafter referred to as “the company”). The company owns several machines classified under the category “Machinery” in its Property, Plant, and Equipment (PPE) register. At the end of the financial year 2024-25 the company decides to revalue one specific machine having a carrying value of Rs. 10,00,000, which has recently […]

• June 18, 2025

Case Details: Synthite Industries (P.) Ltd. vs. Additional/Joint/Deputy/Assistant Commissioner Of Income Tax/Income Tax Officer, National E-Assessment Centre, New Delhi - [2025] 175 taxmann.com 257 (Kerala) Judiciary and Counsel Details Dr. A.K. Jayasankaran Nambiar & Easwaran S., JJ. Abraham Joseph Markos, Alexander Joseph Markos, Isaac Thomas, Sharad Joseph Kodanthara & V. Abraham Markos, Advs. for the Petitioner. Jose Joseph, Adv. for […]

• June 17, 2025

Circular No. RBI/2025-26/53 DOR.AML.REC.31/14.01.001/2025-26, Dated: 12-06-2025 The Reserve Bank of India (RBI) has revised the Know Your Customer (KYC) norms to make the KYC updation process more accessible, particularly for customers in rural and underserved areas. The new measures are aimed at reducing service delays and ensuring wider financial inclusion. 1. KYC Updation Now Possible […]