This article examines the shift in Indian accounting from AS 14’s dual-path approach for amalgamations to Ind AS 103’s fair-value based acquisition method, highlighting key differences.
The Supreme Court of India ruled that an insurance surveyor’s report is not the final word on a claim. It can be challenged with other evidence, as seen in the New India Assurance case.
The NCDRC ruled on a hotel’s insurance claim, stating that a surveyor’s report is valid unless challenged with credible evidence. The hotel’s appeal was dismissed.
The NCDRC has ruled that a surveyor’s report is not binding. The court ordered United India Insurance to pay a ₹3.5 crore claim, finding the denial of a fire claim was a deficiency in service.
NCDRC dismisses an appeal from Nancy Overseas, upholding the rejection of an insurance claim due to insufficient premium payment and non-disclosure of material facts.
The ITAT Cochin confirmed penalties against a primary agricultural credit society for violating Sections 269SS and 269ST, ruling that a lack of an RBI license prevents it from being classified as a co-operative bank.
The ITAT Cochin confirmed income additions against K.K. Radhakrishnan, rejecting arguments of mechanical approval and lack of incriminating material found during a search.
GST’s new Invoice Management System (IMS) aims to prevent fraudulent tax claims by moving from reactive reconciliation to a real-time, self-policing compliance framework.
Insolvency and Bankruptcy Code Amendment Bill 2025 proposes creditor-led insolvency, group and cross-border resolution, governance changes, and procedural clarity to improve IBC implementation.
The NCLAT, Mumbai, ruled that the Limitation Act applies to CIRP applications, affirming that an application for a time-barred debt cannot be entertained.
