Entire manufacturing process though by distinct units relevant for exemption from excise duty on account of manufacture without aid of power. In a recent judgment, Hon’ble Supreme Court has held that entire manufacturing process of conversion of grey fabrics into cotton fabrics though by distinct units is to …

High Court condoned delay in filing Form 10B as the failure was in the 1st Year of operation of the Trust. In a recent judgment, Hon’ble madras High Court condoned delay in filing Form 10B as the failure was in the 1st Year of operation of the Trust. …

Penalty u/s 270A quashed as there was no satisfaction in the penalty order on what exactly was under reporting of income and what was misreporting of income by the assessee In a recent judgment, ITAT Raipur deleted penalty under section 270A observing that there was no satisfaction brought …

Small Company threshold of paid-up capital increased to Rs. ten crores and turnover to Rs. hundred crores w.e.f. 1st December 2025. What is a small company? Answer: Before the amendment, as per section 2(85) of the Companies Act 2013, to pass the test of a small company it …

For registration u/s 12AA if Commissioner’s satisfaction is limited to the objects of the Institution, or also to genuineness of its activities? – Special Leave Petition (admitted by Supreme Court In a recent case Hon’ble Supreme Court has admitted Petition of the Income Tax Department to consider the …

Over 30 approvals u/s 153D granted within minutes amounted to total non-application of mind – Bombay High Court In a recent judgment, Bombay High Court upheld that over 30 approvals u/s 153D granted within minutes amounted to total non-application of mind and the so-called discussions between the official …