Mumbai ITAT upholds deductibility of expenditure based on legal nature; overrides accounting treatment

Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 – Central Government prescribes valuation rules, forms and compliance framework

Mumbai ITAT denies carry forward of accumulated business losses and unabsorbed depreciation in demerger involving issuance of shares by parent company

Supreme Court: Receipt of shares pursuant to an amalgamation, in exchange of shares held as stock-in-trade, results in taxable business income for the shareholders