The Tribunal remanded the MAT issue after noting lack of factual verification on whether reserve withdrawals were credited to the P&L account. Key takeaway: MAT adjustments under section 115JB require strict, evidence-based verification.
This article holds that long-term professional survival depends on integrating ethics, excellence, technology, and trust through a unified ZENITH framework.
This analysis explains how the proposed law moves from complexity to clarity, holding that simplification and plain drafting are key to reducing disputes and improving compliance.*
The court held that interest is payable when the actual refund is made after the statutory 90-day period, even if the refund order was passed earlier.
The issue was whether unsecured loans could be treated as unexplained despite full documentation. The ITAT held that once loans are repaid and identity and genuineness are proved, section 68 cannot be invoked.
This piece explains that Independent Directors are not automatically liable, but face risk where knowledge, consent, or neglect is established.
This piece explains that timely filing of income tax and GST returns helps avoid penalties, secure refunds, and start the New Year with clean compliance.
The analysis holds that the nature of a charge determines creditor priority, enforcement rights, and risk pricing in Indian corporate finance.
The issue highlights that automated messages questioning donation deductions lack clarity on mismatches, forcing donors to revise returns without knowing the actual defect.
The issue was whether entire bank cash deposits could be taxed as unexplained money. The Tribunal ruled that gross receipts alone cannot be treated as income without examining business facts. Key takeaway: turnover ≠ income under section 69B.
