Prasenjit Bhowmik, MBA Finance & ICSI Professional, expert in taxation, accounts & stock markets since 2008, leading ventures across finance, tea, pharma, and diverse industries
ITAT Chandigarh rules that excess stock surrendered during a tax survey is taxable as business income at normal rates, excluding Sections 69B and 115BBE.
ITAT Bangalore rules that denying Section 11 exemption to a trust does not automatically make gross receipts taxable without reviewing allowable expenses.