A summary of AS 2 and Ind AS 2 for inventory accounting. Learn about valuation methods, cost formulas, and key differences in these standards.
The Supreme Court in Vishnoo Mittal v. M/s Shakti Trading Company quashed proceedings against a director under Section 138 of the NI Act, due to the cause of action arising after an IBC moratorium was in place.
The Telangana High Court has ruled that magistrates must not mechanically authorize detention, citing a lack of judicial application and adherence to guidelines. The court set aside a remand order after finding a student was illegally detained without proper procedure.
The Gujarat High Court ruled an assessee cannot cross-examine officers who issued summons and memos when the case is based on documentary evidence.
Learn the accounting rules for borrowing costs under AS 16 and Ind AS 23. This guide covers capitalization, qualifying assets, and key differences between the standards.
An analysis of five landmark judgments that have shaped GST recovery proceedings, balancing tax authority powers with constitutional and procedural safeguards for taxpayers.
A deep dive into the Previous Year concept under India’s tax law suggests an income-specific approach for new ventures, enabling early tax benefits and deductions.
Learn about Accounting Standard (AS) 12 for government grants. Understand its scope, recognition principles, accounting treatments for various grant types, and disclosure rules.
A summary of Accounting Standard 6 (AS 6), including its objectives, scope, key principles, and methods of depreciation. Understand its legacy in Indian accounting.
A guide to the regulatory framework for fund management in GIFT City, covering IFSCA regulations, SEZ rules, and compliance requirements for FMEs and nominees.
