Understanding the implications of Section 43B(h) under the Income Tax Act for payments to MSMEs. Key insights for businesses on compliance, penalties, and tax benefits.
Explore the Mediation Act, 2023, a new ADR mechanism for commercial disputes, enhancing dispute resolution with mediation for a streamlined legal process.
Rajkot ITAT confirms gross profit estimation and stock addition for Raghuvanshi Cotton Ginning, highlighting the importance of accurate stock reporting.
MP High Court condemns unauthorized demolitions, emphasizing due process and legal rights, spotlighting the need for adhering to natural justice principles.
Understand the MSMED Act 2006 payment terms for MSMEs, consequences of delayed payments, and obligations like MSME-1 filing and financial statement disclosures.
Bombay High Court held that just because modified Clause 96 of the General Conditions of Contract states that the decision given by the Committee shall be final and binding upon the parties, the modified clause 96 constitutes the Arbitration Agreement between the parties
Mumbai ITAT decision clarifies that no addition under Section 69 I-T Act is justified once the source of investment is proven, setting a precedent.
Mumbai ITAT reiterates Sec 50C(1) as a measure against tax evasion by undervaluing property sales, emphasizing its retrospective application.
ITAT Bangalore held that unless the debt has been written off in the books of accounts of both the assessees, it cannot be said that that cease to exist.
Discover the critical changes in Section 43B of the Income Tax Act, 1961, with clause (h) introduction, promoting timely payments to MSMEs from AY 2024-25 and its impact on businesses.
