The United States Supreme Court recently heard oral argument in Trump v. Slaughter, a case centering on the March 2025 removal of Rebecca Kelly Slaughter as Commissioner of the Federal Trade ...
The Revenue disallowed 80P deduction by treating FDR interest as income from surplus funds. ITAT ruled Totgars applies only to surplus funds, not to statutory reserves mandated by co-operative ...
The tribunal noted that the firm had no business activity and only earned interest income. It held that unexplained income cannot be presumed in such circumstances when contributors are ...