Monthly Archives: August 2026

ITAT Rules in Favor of Public Sector Bank Across Key Corporate Tax and Accounting Disallowances

By | August 4, 2026

ITAT Rules in Favor of Public Sector Bank Across Key Corporate Tax and Accounting Disallowances ITAT Rules in Favor of Public Sector Bank Across Key Corporate Tax and Accounting Disallowances Issue FCTR Balance & Sec 43AA: Whether the opening balance of Foreign Currency Translation Reserve (FCTR) accumulated from non-integral foreign operations in preceding years can… Read More »

Settlement Commission immunity applies only to Income Tax and does not bar PMLA proceedings.

By | August 4, 2026

Settlement Commission immunity applies only to Income Tax and does not bar PMLA proceedings. Issue Immunity Scope: Whether immunity granted by the Settlement Commission under Section 245H of the Income-tax Act, 1961 extends to afford protection from proceedings under the Prevention of Money-laundering Act, 2002 (PMLA). Requirement of FIR: Whether an FIR or formal complaint… Read More »