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

Action against Statutory Auditor by RBI : Debarred to carry out audit for 2 years

A deity falls within the meaning of the word “individual” and can be treated as a unit of assessment

Corpus donations received by Trusts which was not registered u/s 12A/12AA are not taxable as they assume nature of “Capital receipt’

Section 8 Company: Draft format of Memorandum & Article of Association

Fake ITC case of about Rs. 270 crores relating to diamonds unearthed by CGST Commissionerates

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

ITAT exempts Bombay Chamber of Commerce for rendering services in relation to commercial activities

Finer point of income tax laws of personal taxation one should be aware of BY Balwant Jain

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.

Section 55 of Income Tax Act : Can Assessing Officer Reject , the valuation report ?

Income Tax raid on Pharma groups unearths unaccounted income of Rs 550 Cr

Taxation of Income from Stock Market

Cash seizure of over Rs. 142 crore in searches of Income Tax Department in Hyderabad

Mere delay in enclosing a certified copy of order appealed against along with the appeal should not come in the way of assessee’s appeal for being considered on merits

Assessment order quashed as the password for the Video conference link was not provided