The case examined whether minor valuation differences can trigger taxation under Section 56(2)(x). ITAT held that differences within 10% fall within permissible tolerance. The ruling protects genuine ...
Step-loans can unintentionally violate Section 185 by creating indirect loans to directors. Companies often overlook how layered transactions breach legal provisions. The key takeaway is to review ...
The Act grants the Board general managerial powers unless expressly restricted by provisions like Section 180. Section 179(3) merely regulates decision-making procedures for specific matters. This ...
The case examines whether penalty applies when a deduction claim is disallowed. ITAT held that full disclosure and bona fide claim prevent penalty under Section ...
The case examines whether estimated expense disallowances can be made without rejecting books of account. ITAT held such additions invalid, emphasizing that Section 145(3) rejection is a prerequisite.
ITAT Mumbai holds that vague purpose in Form 10 can deny Sec 11(2) exemption, remanding case for verification of actual utilization and allowing assessee to substantiate specific charitable ...
The court held that dependency under motor accident law is not confined to family members. Religious institutions relying on the deceased can claim compensation for institutional ...
The scheme allows companies to clear pending filings by paying only 10% of additional fees. It offers a limited-time relief ...
The circular addresses mandatory certification requirements for Social Impact Assessors under ICDR Regulations. SEBI requires NISM Series XXIII certification, reinforcing regulatory compliance and ...
ITAT Mumbai rules that Section 11(5) investment shortfall of earlier years cannot be taxed in the current year, holding amendment prospective. Only current year violation is taxable, restricting ...
The provision safeguards refunds, losses, credits, and pending proceedings under the old law. It prevents disruption caused by repeal of the 1961 Act. The key takeaway is that existing rights and ...
The advisory clarifies that Section 8 companies are prohibited from direct strike-off using Form STK-2. It highlights that ...
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