Financial Compliance – smeaccountant

ITAT Upholds ₹37.20 Lakh Addition Over Unaccounted Excess Stock

Tribunal Ruling on Unaccounted AssetsThe Income Tax Appellate Tribunal (ITAT) recently upheld a tax addition of ₹37.20 lakh against an assessee, ruling that excess stock discovered during an official survey…

Prasenjit Bhowmik June 3, 2026

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ITAT Mumbai Clarifies Critical Banking Taxation Standards for AY 2010-11

ITAT Mumbai's landmark ruling clarifies banking taxation for AY 2010-11, resolving disputes on pension funds, bad debts, and regulatory disallowances.

Prasenjit Bhowmik June 1, 2026

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ITAT Ruling Strengthens Taxpayer Defense Against Section 68 Additions

The Income Tax Appellate Tribunal (ITAT) recently ruled in favor of an assessee, deleting a contentious addition under Section 68 of the Income Tax Act after determining that a mere…

Prasenjit Bhowmik May 30, 2026

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IRDAI Fines Nissan Renault ₹1 Crore Over Distribution Fee Disclosure Lapses

Regulatory Oversight in the Automotive Insurance SectorThe Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Nissan Renault Financial Services India for failing…

Prasenjit Bhowmik May 30, 2026

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FinMin Empowers ICICI, Groww, Upstox as Reporting Entities under PMLA Aadhaar Authentication Framework

India's FinMin empowers ICICI, Groww, Upstox for Aadhaar authentication under PMLA, boosting KYC and anti-money laundering efforts.

Prasenjit Bhowmik May 28, 2026

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New Internal Audit Mandate Bolsters Governance for Indian Private Companies

Discover how India's new internal audit mandate impacts private companies exceeding specific financial thresholds, enhancing governance.

Prasenjit Bhowmik May 24, 2026