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Accounting Advance & Revenue Recognition under Ind AS 21

Accounting Advance & Revenue Recognition under Ind AS 21

Overview of the Case and Applicable Standards This case examines the accounting treatment for advance consideration received in foreign currency for services to be rendered over a contractual period. The key focus lies in the application of exchange rates and how they...
IFSCA Issues Norms for Third-Party Fund Management

IFSCA Issues Norms for Third-Party Fund Management

Notification No. IFSCA/GN/2025/007, Dated 24.07.2025 IFSC Authority Introduces Third-Party Fund Management Framework The International Financial Services Centres (IFSC) Authority has amended the Fund Management Regulations, 2025, to create a structured regulatory...
AT-SAFEMA Reduces Penalty for Land Bought Without FEMA Knowledge

AT-SAFEMA Reduces Penalty for Land Bought Without FEMA Knowledge

Case Details: Pradeep Mishra v. Special Director, Directorate of Enforcement – [2025] 176 taxmann.com 876 (SAFEMA – New Delhi) Judiciary and Counsel Details G.C. Mishra and BALESH KUMAR, Member Pawan Kumar and Ramni Yadav, Advs. for the Appellant....
GST Demand Barred After NCLT Plan Approval | HC

GST Demand Barred After NCLT Plan Approval | HC

Case Details: Srei Equipment Finance Ltd vs. State of UP – [2025] 176 taxmann.com 582 (Allahabad) Judiciary and Counsel Details Shekhar B. Saraf and Praveen Kumar Giri Rahul Agarwal for the Petitioner. Sri Nimai Das, learned Additional Chief Standing Counsel for...