Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
AREVA T&D SA Vs The Asst. Director of Income Tax & Ors. – Delhi High Court – Section 147, 195, 197 – Tax Deduction & Permanent Establishment Issue
Facts of the
Case
AREVA T&D SA, a French company, was awarded multiple turnkey
contracts by Power Grid Corporation of India Ltd. (PGCIL) between
1998 and 2002 for offshore supply, onshore supply, and o...
Shailendra vs Union of India & Ors – Delhi High Court Case on Service Law & Promotion under Central Civil Services Rules, Sections 14, 15, 16
Facts of the Case:
The petitioner, Shailendra, challenged the promotion and seniority list issued
by the Union of India & Ors in respect of cadre positions under the Central
Civil Services Rules. He contended that...
CA Gautam Guha vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Nicco Uco Alliance Credit Limited
Facts of the CaseThe Financial Reporting Review Board (FRRB) of the
Institute of Chartered Accountants of India identified several irregularities
in the financial statements of Nicco Uco Alliance Credit Limited for FY
...
National Financial Reporting Authority (NFRA) vs M/s M H Dalal & Associates & CA Devang Dalal NFRA Imposes Penalty and Debarment for Gross Audit Failures in MAN Industries (India) Limited Audit – Failure to Obtain Sufficient Audit Evidence, Non-Compliance with Ind AS and Standards on Auditing
Facts of the
CaseThe National Financial Reporting Authority (NFRA)
initiated proceedings under Section 132(4) of the Companies Act, 2013 against
M/s M H Dalal & Associates, Chartered Accountants, and CA Devang Dal...
National Financial Reporting Authority (NFRA) vs. CA Sachin Kansal (Engagement Partner of Anshu's Clothing Ltd.) – Professional Misconduct in Statutory Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseThe National Financial Reporting Authority (NFRA)
initiated an investigation based on information received from the Ministry of
Corporate Affairs regarding irregularities observed by the Financial Repo...
National Financial Reporting Authority (NFRA) vs M/s ASRMP & Co., CA A.S. Sundaresha & CA Madhusudan U.A. | Audit Failures in Coffee Day Global Limited Matter | NFRA Order No. 24/2023
Facts of the CaseCoffee Day Global Limited (CDGL), a subsidiary of
Coffee Day Enterprises Limited (CDEL), was subjected to scrutiny following
investigations revealing diversion of funds amounting to approximately ₹3,...
National Financial Reporting Authority (NFRA) vs CA Riya Agarwal | Penalty for Failure of Engagement Quality Control Review (EQCR) in Burnpur Cement Limited Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseBurnpur Cement Limited (BCL), a listed company
engaged in the cement manufacturing business, was required to prepare its
financial statements for FY 2017-18 in accordance with Indian Accounting
Standa...
National Financial Reporting Authority (NFRA) vs CA Shekhar Sharad | Auditor Held Guilty for Failure to Assess Going Concern Assumption and Violation of SA 570, SA 705 & SA 706 in Burnpur Cement Limited Audit
Facts of the CaseBurnpur Cement Limited (BCL), a listed cement manufacturing
company, prepared its financial statements for FY 2017-18 on a going concern
basis despite severe financial distress.The company had reported...
CA T. Raghavendra vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Bartronics India Limited | Penalty of ₹5 Lakhs and 10-Year Debarment
Facts of the CaseThe Ministry of Corporate Affairs referred the
matter to NFRA after the Financial Reporting Review Board (FRRB) of ICAI
observed significant irregularities in the financial statements of Bartronics
In...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & Ors. | Failure to Detect Fraudulent Diversion of Funds, Evergreening of Loans, Audit Negligence and Professional Misconduct in Tanglin Developments Ltd (Coffee Day Group) Audit
Facts of the CaseThe matter arose from investigations conducted by
the Securities and Exchange Board of India (SEBI) regarding diversion of funds
amounting to approximately ₹3,535 Crores from various subsidiary compa...