Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Companies in liquidation must file annual or final accounts even where audited half-yearly accounts for both halves of the financial year have been filed. Half-yearly accounts must be merged into annual accounts because annual reporting is necessary to accurately disclose the companies' financial position. Exemption from filing annual or final accounts for the relevant financial year was therefore refused. The half-yearly accounts were accepted on record, and auditors' fees could be paid from available company funds or, subject to reimbursement, from the Estate and Establishment Fund.
Companies in liquidation must file annual or final accounts even where audited half-yearly accounts for both halves of the financial year have been filed. Half-yearly accounts must be merged into annual accounts because annual reporting is necessary to accurately disclose the companies' financial position. Exemption from filing annual or final accounts for the relevant financial year was therefore refused. The half-yearly accounts were accepted on record, and auditors' fees could be paid from available company funds or, subject to reimbursement, from the Estate and Establishment Fund.
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