Be Careful: Eway bill and vehicle movement tracking system is readily available with GST field officers.
Income Tax Raids at Bengaluru on contractors revealed inflation of labour expenses amounting to Rs. 382 crore
If assessee converts his capital assets into stock-in-trade, taxable profit must be determined by deducting from the sale proceeds the market value at the date of their conversion into stock
In order to qualify for deduction, the expenditure must be incidental to the business and must have been necessitated or justified by commercial expediency; there must be a direct and intimate connection between the expenditure and the business
Funny GST: GST is designed to ensure seamless flow of credit but Pre-deposit in cash is must for preferring an appeal before the appellate authority
Corpus donations received by Trusts which was not registered u/s 12A/12AA are not taxable as they assume nature of “Capital receipt’
Income Tax raids reveals unauthorised chit fund business, and all the investments and pay-outs of more than Rs. 400 crore, in the last few years
Corporate guarantee forms an international transaction and covered by Explanation to section 92B with retrospective effect
Unexplained cash credit u/s 68: If the Department has accepted the factum of repayment, the additions under section 68 is not sustainable in law.
