The Tribunal held that operational suspension and status quo directions do not permit nil valuation of stock. Proper valuation is mandatory under the mercantile system.
The ITAT held that once an assessee’s premises are searched, proceedings must be under Section 153A. Invoking Section 153C in such cases is a jurisdictional error.
This case explains why related party transactions require heightened audit scrutiny under SA-550. The key takeaway is that influence and control, not just legal structure, determine audit risk and disclosure obligations.
If you’ve ever wondered whether Bitcoin deserves a place alongside your stocks, bonds and cash, you’re in good company. Over the past decade, Bitcoin has gone from niche curiosity to a serious asset class that many investors are beginning to treat as part of their long-term strategy. The question now isn’t whether Bitcoin is interesting; it’s where and how much it belongs.
