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Income Tax
Identity, Creditworthiness and Genuineness: The Three Tests
The three limbs of section 68 are three separate tests, and a submission that runs them together usually loses on the one it never actually answered.
Read the last order you received on a cash...
Company Law and IBC
Section 68 Unexplained Cash Credit: What the Assessee Has to Prove
Section 68 asks the assessee to explain a credit in the books, and the explanation has to satisfy three separate tests before the Assessing Officer is obliged to accept it.
The notice usually arrives in...
Finance
L&T Share Price Surge: Why Shares Rose Over 6% After Q2 Results
Larsen & Toubro (L&T) shares rose over 6% in early trading on October 28, 2026, after the company announced its September-quarter results a day earlier. The rally followed a 32.5% increase in consolidated...
Company Law and IBC
India’s Petroleum Exports Rise 50% as Oil Prices Surge and Rupee Weakens
India’s petroleum export earnings rose nearly 50% between April and September 2026, even as the country shipped 16% less fuel overseas. At first glance, that sounds like a remarkable win for India’s energy sector....
Income Tax
How a ₹11 Billion Deal Changed India’s Tax Laws
Imagine completing a business deal, believing the rules are clear, and then discovering that the government wants to tax the transaction under a law changed years after it happened.
For most businesses, the past is...
Startups
Apple India Revenue Hits ₹1 Lakh Crore
Not long ago, owning an iPhone in India was a luxury. Today, Apple is building one of its biggest growth stories in the country, with its India revenue approaching ₹1 lakh crore in FY26.
Apple’s...
Finance
eMudhra Security Failure: The Hidden Cost of Losing Trust
A business can spend years building trust and lose some of it in a single incident.
For most technology companies, security is a feature. For a company that sells digital trust, security is the product...
GST
Can GST Officers Deny Input Tax Credit for a Supplier’s Default?
Imagine buying goods from a registered supplier. You receive a tax invoice, pay the full amount with GST through your bank, and claim input tax credit (ITC).
Years later, the GST department sends you a...
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