Cash sales backed by stock, recorded in books, and verified by GST returns cannot be treated as unexplained money under Section 69A. Issue Whether cash found during a search can be treated as unexplained money under Section 69A and taxed under Section 115BBE when the sale of goods generating such cash is fully recorded in… Read More »
Reassessment Beyond Four Years Is Impermissible When All Depreciation Details Were Fully Disclosed Under Scrutiny Reassessment Beyond Four Years Is Impermissible When All Depreciation Details Were Fully Disclosed Under Scrutiny Issue Whether the Assessing Officer can validly issue a notice under Section 148 to reopen an assessment after the expiry of four years from the… Read More »
Reassessment Beyond Four Years Is Impermissible When All Depreciation Details Were Fully Disclosed Under Scrutiny Reassessment Beyond Four Years Is Impermissible When All Depreciation Details Were Fully Disclosed Under Scrutiny Issue Whether the Assessing Officer can validly issue a notice under Section 148 to reopen an assessment after the expiry of four years from the… Read More »
Reassessment Beyond Four Years Is Impermissible When All Depreciation Details Were Fully Disclosed Under Scrutiny Reassessment Beyond Four Years Is Impermissible When All Depreciation Details Were Fully Disclosed Under Scrutiny Issue Whether the Assessing Officer can validly issue a notice under Section 148 to reopen an assessment after the expiry of four years from the… Read More »
CIT(E) Cannot Dilute Section 12AB Registration Order by Incorporating Caveats Based on Potential Future Supreme Court Challenges Issue Whether the Commissioner of Income-tax (Exemption) can validly attach caveats or conditional observations to a Section 12AB registration order based on a potential future Supreme Court challenge after accepting a binding High Court precedent. Facts The assessee-trust… Read More »
CIT(E) Cannot Dilute Section 12AB Registration Order by Incorporating Caveats Based on Potential Future Supreme Court Challenges CIT(E) Cannot Dilute Section 12AB Registration Order by Incorporating Caveats Based on Potential Future Supreme Court Challenges Issue Whether the Commissioner of Income-tax (Exemption) can validly attach caveats or conditional observations to a Section 12AB registration order based… Read More »
Reassessment Beyond Four Years Without New Material or Non-Disclosure Is Invalid Under Section 147 Reassessment Beyond Four Years Without New Material or Non-Disclosure Is Invalid Under Section 147 Issue Whether the Assessing Officer can validly reopen an assessment under Section 147 of the Income-tax Act, 1961 beyond the four-year threshold without demonstrating new tangible material… Read More »
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. 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 »
3 new ways nonprofits can put AI to work 3 new ways nonprofits can put AI to work Google.org helps nonprofits use AI tools and resources to further grow their impact. In the rugged fjords of New Zealand, the volunteer-led Tawaki Project once spent six weeks manually transcribing handwritten research data on penguins. But after adopting Google… Read More »