The ITAT Ranchi deletes a ₹1.67 crore addition to a hardware merchant’s income, ruling that cash deposits during demonetisation were explained by recorded sales.
A summary of SEBI’s evolving regulatory framework, highlighting the integration of cyber security, KYC, and AML to combat financial threats in India’s digital ecosystem.
Secretarial Audit is a corporate governance tool that analyzes a company’s balance sheet to ensure financial transactions comply with laws and regulations.
ITAT Pune remands a case, ruling that a trust’s gross receipts cannot be taxed as income without allowing expenses, despite a significant delay in filing.
The ITAT Pune ruled that excess cash found during a business survey should be taxed as normal business income, not at the higher rate under Section 115BBE.
ITAT Pune upholds an estimated 8% profit on a grain merchant’s cash deposits of ₹2.61 crore, ruling against the taxing of the full amount as unexplained income.
The ITAT Ranchi quashed a Section 263 order, ruling that a tax revision cannot be based solely on an audit objection or for the re-examination of an issue already reviewed by the AO.
The ITAT Ranchi upholds an assessee’s appeal, ruling that the Assessing Officer must provide evidence to substantiate additions made solely based on ITS data.
NCLT Mumbai held that Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor [S U Toll Road Private Limited] under section 7 of the Insolvency and Bankruptcy Code admitted as Corporate Debtor defaulted in repayment of financial debt over the minimum threshold of Rs. 1Crore proved.
NCLAT Chennai held that provisions of section 60(1) of the Insolvency and Bankruptcy Code prescribes that question of jurisdiction has to be raised at the very first available instance and not at the stage when the proceedings have been concluded.
