The court ruled that insisting on a flat 20% deposit to grant stay is illegal, holding that authorities must exercise discretion under Section 220(6) after considering merits and hardship.
The case explains how residency is determined under Indian tax law using stay-based and income-based tests. The key takeaway is that even limited presence or high Indian income can trigger tax residency consequences.
This guide addresses last-minute exam stress and outlines practical revision techniques. The key takeaway is that focused revision and planning outperform excessive, unfocused study hours.
The Supreme Court confirms that failure to file monthly GST returns, even if taxes are later paid, may constitute wilful suppression, attracting Section 74 penalties.
In recent times, the IKIO Lighting share price has attracted attention from investors seeking to understand whether movements in valuation reflect broader trends in Light-emitting Diode (LED) demand. As LED solutions become central to energy-efficient infrastructure and smart lighting adoption, share price dynamics can offer clues about investor confidence and future growth expectations.
The Tribunal held that it was unclear whether the ₹20 lakh receipt was a loan or a property advance and remanded the matter for fresh examination. The ruling underscores that section 68 additions depend on establishing the true character of the receipt through contemporaneous evidence.
The case examines how tax authorities can access electronic and online data once a “reason to believe” threshold is met, highlighting risks to digital privacy and compliance.
The article emphasizes using December to review personal growth across career, family, health, creativity, and spirituality before entering the New Year.
Exemption from Audit for Companies with Turnover up to ₹1 Crore: Benefits May Exist, but the Risks Are Far Greater It has been reported that the Ministry of Corporate Affairs is considering a proposal to amend Section 139 of the Companies Act, 2013, to exempt companies with an annual turnover of up to ₹1 crore from […]
The ruling confirms that notional disallowances under Section 14A cannot be added while computing book profits under the MAT regime.
