The issue was whether a trader declaring income under Section 44AD could face additions for unexplained cash deposits. The Tribunal ruled in favour of the assessee, holding such additions contrary to ...

Many first-time F&O traders are confused about whether they need a tax audit when they report losses. Here’s an expert clarification on how Section 44AD and audit rules actually apply in such cases.

The Tribunal held that additions treating shooting location receipts as house property income were premature. Authorities were directed to re-examine the claim after considering all relevant ...