ITAT ruled that unverified electronic records recovered from a third party do not constitute reliable evidence of cash payments. Additions based solely on such data were deleted.
The High Court ordered a judicial inquiry after finding the State’s death audit on a water contamination incident vague and unsupported, stressing accountability and public health safeguards.
The Tribunal held that interest earned from deposits with co-operative banks qualifies for deduction under section 80P. Such interest does not lose its character as business income of an eligible co-operative society.
The Tribunal held that receipts already offered under the presumptive scheme cannot be taxed again as unexplained money. Once income is declared under section 44AD and supported by surrounding facts, section 69A has no application.
Detailed overview of corporate tax rates, surcharges, and MAT for AY 2021-22 to AY 2025-26, applicable for various domestic and manufacturing companies.
