Meaning of a Multi-National Corporation (MNC): A multinational corporation (MNC) is a company that has business operations in at least one country other than its home country and generates revenue ...

Summary: The annual compliance calendar for non-small private companies outlines mandatory filings and procedures as per the Companies Act, 2013, including its amendments and exemptions introduced ...

A new investor who has started investing from January 2024, has his portfolio turned red, but new investor must not panic from these situations and stick to his investment strategy. At first he must ...

This order, dated April 11, 2025, addresses an appeal filed by charitable Trust against the Commissioner of Income Tax (Exemption), Pune’s decision to reject their application for registration under ...

In the case of Abha Saraf vs Union of India, the Patna High Court dismissed the petition challenging the issuance of an income tax notice under Section 148 of the Income Tax Act, 1961. The petitioners ...

However, the Patna High Court distinguished this case, noting that the AO had recorded detailed reasons and that the Commissioner’s written satisfaction referenced those reasons. It ruled that while ...

Delhi High Court recently addressed a petition filed by Ishita Varshney Jain challenging notices issued against her under Section 153C of the Income Tax Act, 1961. The notices, dated October 18, 2023, ...

The primary issue revolved around the procedural compliance required for reassessment proceedings, specifically the necessity for a separate “satisfaction note” for each assessment year. The Karnataka ...

The Bombay High Court dismissed appeals filed by Refrigerated Distributors Pvt Ltd against the Deputy Commissioner of Income Tax (DCIT) concerning assessment years 2007-08 to 2012-13. The central ...

In response to the show-cause notice dated March 24, 2014, the assessee issued a prompt reply on March 28, 2014 disclosing voluminous documents and claiming such documents to be the evidence of the ...

The ITAT admitted this additional ground, which focused on a procedural defect in the show-cause notice issued under Section 274 read with Section 271 (1) (c). The assessee’s counsel argued that the ...

Since the assessee accepted and deposited demonetized currency after the cutoff date, it was not legally permissible, and thus, the cash was treated as unexplained and taxed under Section 115BBE. The ...