Unrecorded Sales Gross Profit Estimate Deleted As Assessing Officer Failed To Formally Reject Books

By | July 18, 2026

Unrecorded Sales Gross Profit Estimate Deleted As Assessing Officer Failed To Formally Reject Books Unrecorded Sales Gross Profit Estimate Deleted As Assessing Officer Failed To Formally Reject Books Issue Whether the Assessing Officer can legally estimate a firm’s gross profit on unrecorded sales without formally rejecting its books of account under section 145(3) or invoking… Read More »

Medical Reimbursements Up to ₹15,000 Are Exempt From Fringe Benefit Tax for Employers

By | July 18, 2026

Medical Reimbursements Up to ₹15,000 Are Exempt From Fringe Benefit Tax for Employers Issue Whether medical reimbursements up to ₹15,000 per employee per annum, which are exempt from tax in the hands of the employees, are liable for Fringe Benefit Tax (FBT) in the hands of the employer under Section 115WB. Facts The case pertains… Read More »

Pure Equity Debentures Excluded from MAT Transition Amount; Section 14A Disallowance Fails Without Recorded Dissatisfaction

By | July 18, 2026

Pure Equity Debentures Excluded from MAT Transition Amount; Section 14A Disallowance Fails Without Recorded Dissatisfaction Pure Equity Debentures Excluded from MAT Transition Amount; Section 14A Disallowance Fails Without Recorded Dissatisfaction Issue Whether Fully Convertible Debentures (FCDs/ZOFCDs) consisting purely of equity components can be categorized as Compound Financial Instruments (CFIs) or “other equity” to trigger a… Read More »

Hiring Receipts Are Commercial Business Income, but Publication and Staff Costs Qualify as Valid Charitable Accumulation Application

By | July 18, 2026

Hiring Receipts Are Commercial Business Income, but Publication and Staff Costs Qualify as Valid Charitable Accumulation Application Issue Whether the receipts from commercially hiring out conference and auditorium facilities constitute business income under section 11(4A) due to active property exploitation, and whether expenses on publications, printing, and administrative salaries qualify as the application of accumulated… Read More »

Mystery of Titanic: How The Unsinkable Ship Sink?

By | July 17, 2026

Mystery of Titanic: How The Unsinkable Ship Sink? Mystery of Titanic: How The Unsinkable Ship Sink? Wikipedia • RMS Titanic sank in the North Atlantic Ocean on 15 April 1912. The largest ocean liner in service at the time, Titanic was four days into her maiden voyage from Southampton, England, to New York City, United… Read More »

History of the birth of Rail Transport – The Evolution of Railways

By | July 17, 2026

History of the birth of Rail Transport – The Evolution of Railways History of the birth of Rail Transport – The Evolution of Railways nfinity Stream earns commission on tagged products. Learn more A Brief History Of High-speed Rail An Introduction To Rail Transport Planning Rail Transport-systems Approach High Speed Rail And Access Transit Networks #history #birthofRailTransport #documentary… Read More »