The Tribunal accepted the assessee’s explanation that unspent cash withdrawn for labour and petty expenses was redeposited into the same bank account. The Section 68 addition was consequently ...
AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty value. Both buyers and sellers may face taxation under Sections 50C and ...
This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax evasion if it originates from disclosed bank funds. However, buyers must prove the source with ...
The requirement applies if foreign assets or liabilities exist as of 31 March, even without fresh transactions. The rule ensures disclosure of outstanding FDI/ODI positions under FEMA reporting ...
The article questions why Congress has not consistently demanded accountability from the Centre regarding creation of High Court Benches in states like Uttar Pradesh, Bihar, and Odisha. It highlights ...
Private limited companies with turnover above ₹200 crore or borrowings exceeding ₹100 crore must appoint an internal auditor under the Companies Act, 2013. The article explains compliance rules, ...
The Ministry of Finance amended the earlier customs notification to continue anti-dumping duty for an extended period. The notification clarifies that the levy will remain effective unless superseded, ...
The Supreme Court stayed further proceedings arising from a Section 74 GST order while examining whether writ petitions can be entertained despite statutory appellate remedies. The Court linked the ...
IFSCA clarified that IFSC Banking Units can avail voice broking services from registered TechFin and Ancillary Service ...
The article explains how simplifying GST laws, rationalising returns, and improving the GST portal can significantly reduce compliance burdens for businesses and ...
The High Court held that disputes involving factual examination and merits under Section 74 of the CGST Act must ordinarily be pursued through statutory appeals. It ruled that neither lack of ...
The article explains the complete evolution of buyback taxation in India, highlighting how tax liability shifted between ...
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