While the AIS aims to improve voluntary compliance, the system’s early-stage flaws are causing more confusion than clarity.

ITAT Delhi held that interest expense relating to prior period expenditure is allowable since from the financial positions and profitability declared in the financial statement, it shows that it has ...

ITAT Jabalpur rules on excess stock as undisclosed income and sets tax rates for survey income and cash credits, citing Vatika Township ...

To determine the value of ending inventory and, ultimately, margins, many retailers have stuck with an accounting practice known as the retail inventory method — in some cases for more than 100 ...