The issue was whether exempt dividend income could be taxed by overriding Rule 8D. The ITAT held that additions beyond the Section 14A framework are invalid.
Founders often struggle with investor conversations due to financial jargon. Understanding core finance terms helps founders pitch confidently and run sustainable businesses.
The court examined an eight-year delay in releasing a sanctioned tax refund. It ruled that such inaction is unacceptable and directed immediate payment with statutory interest.
The issue was whether old unabsorbed depreciation could be carried forward beyond eight years. The tribunal upheld unlimited carry-forward post-2001 amendment, reaffirming that such depreciation can be set off without time restriction.
The issue was whether agricultural income was rightly disallowed for lack of proof. The tribunal deleted the addition after the Revenue’s own inspection confirmed active cultivation, reinforcing that verified facts override assumptions.
There is no official announcement yet on the 8th Pay Commission despite growing speculation. The key takeaway is that timelines and figures circulating online remain unverified.
Auditor Appointment Rules Explained Under Section 139 of Companies Act; How Auditors Are Appointed, Reappointed, and Rotated in Companies; Section 139 Decoded: Tenure Limits and Auditor Independence; Audit Committee’s Role in Auditor Appointment and Rotation Explained Section 139 of the Companies Act, 2013 lays down a comprehensive framework for appointment, tenure, rotation, and reappointment of auditors to […]
The Karnataka High Court’s GST ruling adopts the Supreme Court’s “arrest is an exception” framework for offences up to seven years, but it goes further in emphasis by treating non‑requirement of custodial interrogation in GST cases up to five years as a strong—almost default—reason to grant anticipatory bail, whereas Supreme Court precedents treat that factor […]
This explains the mandatory LMPC registration for importing pre-packaged goods. The key takeaway is that fees are nominal, but timely registration and correct declarations prevent port delays and penalties.
The High Court held that an addition for unexplained investment cannot rest solely on an unsigned and unexecuted agreement. The key takeaway is that Section 69 requires concrete evidence of actual payment, not assumptions drawn from incomplete documents.
