IFRS 9 – International Accounting Standards Board (IASB) has issued an exposure draft on ‘Amendments to the Classification and Measurement of Financial Instruments’, proposing amendments to IFRS 9 and 7. Comments from stakeholders are sought before 19-7-2023.
Government brings directors, nominee shareholders and formation agents of Companies/LLPs under the purview of Prevention of Money Laundering Act, 2002.
Notification No. S.O. 2135 (E), dated 10-5-2023.
The words ‘as is where is and whatever is’ in sale notice do not shift the liability of post-liquidation municipal taxes from official liquidator to purchaser of property.
Official Liquidator v. Ujjain Nagar Palika Nigam – [2023] 150 taxmann.com 135 (SC).
Section 164 of the Companies Act – Non-provision for related party creditors in Resolution Plan is not violative of any law nor does it violate the principle of non-discrimination.
M. K. Rajagopalan v. Dr. Periasemi Palani Gounder – [2023] 150 taxmann.com 70 (SC).
Finmin issues clarification on updated FAQ issued by US IRS in respect of FATCA reportable accounts.
Notification F. No. 500/107/2015 – FT & TR – III, dated 4-5-2023.
SC upholds constitutional validity of section 140(5) of Companies Act: says auditors cannot escape being probed if they resign. Section 140(5) is neither discriminatory, arbitrary nor violative of Article 14, 19 (1)(g) of the Constitution of India. The application/proceedings u/s 140(5) are maintainable even after the resignation of concerned auditors. NCLT to pass final order on such application after holding enquiry in accordance with law.
UOI v. Deloitte Haskins & Sells LLP & Anr. – [Criminal Appeal Nos. 2305-2307 of 2022 along with a bunch of other Civil and Criminal Appeals.], dated 3-5-2023.