R Amin

Rs 8 lakh cash deposited in bank – man gets tax notice! Assessing officer deems it presumptive business income, but taxpayer wins case in ITAT – ruling explained

R Amin04 mins mins

During the assessment, the AO estimated Kumar’s business income under Section 44AD — something completely outside the scope of the original notice. (AI image) Making cash deposits of large amounts in your bank account? Be aware of a case where a cash deposit attracted the attention of the Income Tax Department, and the assessing officer…

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Insurers cannot deny payout over vehicle’s route deviation: SC’s big ruling on motor accident claims explained

R Amin03 mins mins

The Supreme Court has delivered a significant ruling, stating that insurance companies cannot deny compensation to accident victims solely because the vehicle involved deviated from its permitted route or violated its permit conditions. A bench of Justices Sanjay Karol and Prashant Kumar Mishra emphasised that, in the context of motor accidents, the insurance policy’s primary…

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