Case Studies
Real engagements. Measurable outcomes.
A look at how N D Savla & Associates has helped businesses across industries — through audit, taxation, litigation, and advisory work.
35Cases published
16+Industries covered
4Practice areas
Audit Engagements
16 CasesFMCG / DistributionTax Audit
FMCG Distributor — First-Time Section 44AB Tax Audit: Clean Report in 18 Days
Result
Clean Form 3CD filed within 18 days. Sec 271B penalty of ₹1.84 lakh fully avoided. Two TDS defaults corrected before report date.
Client
Proprietorship · FMCG Distribution · Pune, Maharashtra · ₹18.4 Crore turnover
Engagement
Income Tax Audit (Sec 44AB) · Form 3CD · Cash Disallowances · TDS Corrections
Expertise
Section 40A(3) cash purchase analysis · Inventory shortage reconciliation · HUF related-party Clause 26 review · TDS revised returns (194C & 194H) · All 44 Form 3CD clauses with workpapers
LogisticsInternal Audit
Multi-Branch Logistics Company — ₹11.3 Lakh Unauthorised Procurement Uncovered
Result
₹11.3 lakh in unauthorised procurement uncovered; 47 unmatched PO entries identified. Vendor-manager nexus documented and reported to board.
Client
Private Limited · Logistics & Warehousing · 4 Branches · ~₹22 Crore
Engagement
Risk-Based Internal Audit · Q3 & Q4 FY2024–25 · Procurement, Cash & Fuel · 3 Months
Expertise
Risk-mapping heat map · Surprise physical stock counts · 3-way PO-GRN-invoice matching (840 transactions) · Phantom payroll detection · Internal Control Matrix
IT Services / MNCTransfer Pricing
Dutch MNC IT Subsidiary — ₹3.1 Crore TP Addition Reduced to Nil at DRP
Result
₹3.1 crore proposed addition set aside in entirety at DRP. TNMM confirmed as most appropriate method. APA application now under discussion.
Client
Private Limited · IT Services Subsidiary · Parent: Netherlands · ~₹41 Crore intercompany revenue
Engagement
Form 3CEB · TP Documentation · DRP Representation · 11 Months
Expertise
FAR analysis · TNMM vs CPM dispute · Comparable set re-analysis (14 cos.) · DRP objections within 30-day window · BEPS Action 13 Master & Local File
Chemicals / ImportGST Audit
Chemical Importer — ₹22 Lakh GST Demand Eliminated, ₹9.6 Lakh ITC Regularised
Result
₹22 lakh SCN demand dropped; ₹9.6 lakh ITC regularised; ₹1.8 lakh IGST export refund received within 45 days.
Client
Private Limited · Chemical Import & Wholesale · Mumbai · ~₹32 Crore
Engagement
GST Audit Preparation · ITC Review · SCN Response · Export Refund · 6 Weeks
Expertise
24-month GSTR-2A vs GSTR-2B reconciliation · Section 17(5) blocked ITC analysis · RCM liability & ITC claim · 140-page GSTR-9/9C reconciliation
PharmaceuticalsStatutory Audit
Pharma Manufacturer — First Ind AS Statutory Audit, Unmodified Opinion Despite ₹2.3Cr Restatement
Result
Unmodified audit opinion delivered. Revenue restatement and all 11 undisclosed RPTs addressed before report date.
Client
Public Limited · Pharmaceutical Manufacturing · Maharashtra (2 plants) · ₹87 Crore
Engagement
Statutory Audit · First-Year Ind AS Transition · CARO 2020 · Revenue Restatement
Expertise
Ind AS 115 CIF export restatement · 11 RPTs: Ind AS 24 & Sec 188 ratification · Near-expiry inventory provision · CARO 2020 loan utilisation · IFC management letter
ManufacturingAudit
Manufacturing & Industrial — Statutory Audit With Full Fixed Asset Reconciliation
Result
Clean statutory audit opinion. Fixed asset register fully reconciled. Capital expenditure properly classified with no prior-period adjustments.
Client
Manufacturing · Power Appliances & UPS Systems
Expertise
Fixed asset auditing · Depreciation computation · Capital asset management · Regulatory compliance
Import / ExportAudit
Import / Export & Trade — Customs Risk Identified, RoDTEP Correctly Recognised
Result
Clean opinion. Customs duty risk addressed before scrutiny. RoDTEP incentive revenue correctly recognised, improving reported profitability.
Client
Trading Company · Chemical Import & Distribution
Expertise
Customs evasion detection · RoDTEP incentive booking · Import-export regulatory compliance
Consumer GoodsAudit
Cosmetics & Consumer Goods — Internal Audit Across Multi-State Distribution
Result
Internal audit system established. GST-to-books reconciliation cleared across all states. Full compliance calendar now managed end-to-end.
Client
Cosmetics & Consumer Products · Multi-state Distribution
Expertise
Internal audit systems · GST-Book reconciliation · Director ITR filing · Capital gains planning
Financial ServicesAudit
Investment Banking — Deal-Contingent Revenue Recognition & Forex Audit
Result
Clean statutory audit opinion. Deal-contingent fee revenue correctly recognised. Forex P&L accurately stated with realised and unrealised gains properly separated.
Client
Investment Banking · PE/VC Advisory · M&A Services
Expertise
Investment banking accounting · Deal-contingent revenue recognition · Forex management · Financial volatility auditing
TechnologyAudit
Technology & Software — Statutory Audit With Transfer Pricing Compliance
Result
Form 3CEB filed accurately with TNMM benchmarking. Labour compliance harmonised across Maharashtra and Gujarat. DTAA withholding tax credits claimed.
Client
ERP & Software Implementation · Parent: USA-based
Expertise
Transfer pricing strategy · Revenue recognition · Multi-state labour compliance · Forex management
Non-Profit / TrustAudit
Religious Trust — Statutory Audit With Section 12A Exemption Maintained
Result
Unqualified opinion. Section 12A exemption maintained with zero deficiency notices. Donation accounting correctly structured.
Client
Religious Trust · Charitable Organization
Expertise
Trust compliance framework · Donation management · Income application optimisation · Religious trust accounting
ManufacturingAudit
New Manufacturing Unit — Pre-Operational Setup Through First Statutory Audit in 45 Days
Result
Audit completed within 45-day banker deadline. Term loan disbursed on schedule. From blank books to fully audited first year.
Client
Private Limited · Industrial Products · Maharashtra
Expertise
Plant setup compliance · Factory licence & pollution consent · Books of accounts from inception · Statutory audit · Board meeting coordination
Section 8 / NGOAudit
Section 8 Company — First Audit With Multi-Donor Fund Mapping and ROC Compliance
Result
Clean first-year audit. All donor utilisation certificates submitted on schedule. AOC-4 filed within due date.
Client
Section 8 Company · Skill Development & Livelihood · Multiple CSR & Government Grants
Expertise
Grant receipt-to-expenditure mapping · Deferred grant income recognition · CSR utilisation certificates · Director remuneration compliance · AOC-4 filing
Charitable TrustAudit
Charitable Trust — Statutory Audit Protecting Sec 12A Exemption and Form 10B
Result
Section 12A exemption maintained. Form 10B filed on time. Trust continued donor fundraising with a clean audit record.
Client
Public Charitable Trust · Social Welfare · Maharashtra
Expertise
85% charitable expenditure test · Section 11(2) accumulation with Form 9A · Anonymous cash donation compliance · Corpus donation segregation
EducationAudit
Private School — Fee Income Classification and RTE Compliance Audit
Result
Operational income and capital contributions clearly separated for first time. RTE receivables properly recognised. Audit completed ahead of AGM deadline.
Client
Educational Trust · K-12 Private School · Maharashtra
Expertise
Fee income reclassification · RTE 25% free-seat reimbursement · Corpus fund review · TDS on staff · Fixed asset register
HealthcareAudit
Private Hospital — Pharmaceutical Inventory, Insurance Reconciliation & Doctor Compliance
Result
Inventory discrepancies documented. Insurance receivables provisioned. Clean audit opinion; financials accepted by empanelment committees without query.
Client
Charitable Trust · Private Hospital & Multi-Speciality Centre · Maharashtra
Expertise
Pharma inventory FIFO audit · Medical equipment Schedule II depreciation · TPA aging analysis · TDS: Sec 192 vs 194J doctors · Sec 12A compliance
Income Tax Return Engagements
4 CasesReal EstateIncome Tax
Real Estate Group — Multi-Entity Notice & Compliance Management
Result
All notices responded within deadlines across every entity. Group now operating on a forward-looking compliance calendar.
Client
Multi-entity group (Partnerships, LLPs, Pvt Ltd) · Construction & Real Estate
Expertise
Multi-entity tax coordination · Notice management · Construction sector advisory · Time-sensitive compliance
Real EstateIncome Tax
Real Estate Group — Strategic Tax & Capital Gains Optimisation
Result
Capital gains materially optimised through Sections 54 and 54F. Tax audit reports filed within due dates. CIT(A) appeal positions documented.
Client
Multi-entity group of construction companies
Expertise
Multi-entity ITR prep · Capital gains optimisation · Tax audit reports · CIT appeals · Stock-in-Trade classification
NRI / FinancialIncome Tax
Returning NRI — Untangling Seven Years of Unfiled India Returns
Result
Only two years carried a genuine filing obligation — both filed cleanly with interest but no penalty. Client joined employer on schedule.
Client
Non-Resident Individual · Financial Services Professional · Singapore / Mumbai
Expertise
Year-by-year residency determination (FEMA & IT Act) · India-Singapore treaty relief · NRO interest disclosure · Residency status memo
Technology / MNCIncome Tax
MNC Senior Employee — RSU Taxation Across India and the United States
Result
Double taxation on perquisite income avoided entirely. Cross-border tax outgo materially reduced. Documented framework for all future RSU tranches.
Client
Individual · Technology MNC · Mumbai (returned from USA)
Expertise
Grant-vest-sale tax mapping · Income apportionment · Perquisite Rule 3 valuation · India-US DTAA coordination · TDS employer advisory
Litigation & Appeals
4 CasesNRI TaxationLitigation
NRI Reassessment — ₹29.99 Lakh Addition Deleted at CIT(A)
Result
Complete deletion of ₹29.99 lakh addition. Overseas earnings held not taxable in India.
Client
NRI · Medical Professional · Overseas Employment
Expertise
NRI tax advisory · Cross-border fund trail verification · Foreign remittance & NRE analysis · Appellate litigation
Personal TaxationLitigation
Reassessment Notice Quashed by ITAT — Sec 151 Defect
Result
Entire reassessment quashed on a pure question of law — invalid Section 151 approval — without adjudication on merits.
Client
Individual Taxpayer · Real Estate Transaction
Expertise
Reassessment expertise (Sec 147/148/148A/151) · Jurisdictional analysis · Judicial precedent research · Appellate advocacy
ConstructionLitigation
Construction Contractor — TDS Default of Over 4 Years Resolved
Result
Demand reduced from ₹19 lakh to under ₹4 lakh; penalty waived. Clean TDS certificate enabled a government contract bid.
Client
Proprietorship · Construction & Contracting · ~₹8 Crore
Expertise
TRACES reconciliation · Section 201 interest computation · Section code correction · Rectification & AO representation
Education / TrustLitigation
12AB & 80G Registration Restored by ITAT for Educational Trust
Result
ITAT directed restoration of both 12AB registration and 80G approval — tax-exempt status and donor eligibility fully restored.
Client
Educational Charitable Trust · Non-Profit Sector
Expertise
Charitable trust advisory · Exemption litigation (Sec 11/12A/12AB/80G) · Documentation review · Appellate representation
Advisory & Compliance
11 CasesEdTech / StartupAdvisory
EdTech Startup — Designing an ESOP Pool Before Series A
Result
All three key hires accepted grants and stayed through the raise. Investor counsel cleared the scheme with no comments; round closed with a clean cap table.
Client
Private Limited · Education Technology · VC-backed · Pre-Series A
Expertise
8% pool under Sec 62(1)(b) · Four-year vesting with cliff · Scheme & resolutions · Employee tax treatment
Non-Profit / TrustAdvisory
Charitable Trust — Restoring FCRA Registration After Compliance Lapse
Result
FCRA registration restored within eight weeks. Blocked contributions received next cycle; donor relationships strengthened.
Client
Public Charitable Trust · Livelihood & Women's Skilling · ~USD 2,80,000/yr foreign contributions
Expertise
Outstanding FCRA return filing · MHA representation · FCRA bank audit trail · Multi-statute compliance calendar
ArchitectureAdvisory
Architecture Firm — Restructuring Billing & Tax for International Projects
Result
First export refund recovered ₹11 lakh of ITC previously absorbed as cost. International billing now on a compliant, documented framework.
Client
LLP · Architecture & Design · ~₹6 Crore (incl. foreign billings)
Expertise
Export-of-services classification · LUT registration · FIRC & FEMA compliance · RBI / AD bank reporting
Food & BeverageAdvisory
QSR Chain — Recovering ₹38 Lakh in GST ITC on Restaurant Renovations
Result
₹38 lakh in ITC recovered on ₹1.6 crore renovation spend — recovery alone covered more than half the fit-out cost of the seventh outlet.
Client
Private Limited · QSR (6 outlets) · Mumbai & Pune · ₹11 Crore turnover
Expertise
Section 17(5) analysis · Invoice reclassification · Amended GSTR-3B · Legal working notes · Capex procurement tagging
Wholesale TradingAdvisory
Fourth-Generation Family Business — HUF & Partnership Restructuring
Result
First consolidated asset and income map for the entire family. Filing inconsistencies corrected; fourth-generation handover supported with documented ownership records.
Client
HUF & Partnership Firm · Wholesale Trading · Kalbadevi, Mumbai
Expertise
Cross-entity asset mapping · Partial partition deed · Property & FD record update · Partnership deed revival · Prior-year return corrections
Real EstateAdvisory
Thane Developer — GST Account Reconstruction to Secure Construction Finance
Result
Lender disbursement approved within six-week window. GST regularised without penalty. Developer engaged NDSA for two further projects since.
Client
Private Limited · Real Estate Development · Thane · 120-unit project, ~₹42 Crore
Expertise
Source-document project rebuild · GST output restatement & ITC reversal · GST department reconciliation · Lender-compliant financials
Industrial / InternationalAdvisory
German Machinery Manufacturer — Liaison Office Setup & RBI Compliance
Result
Liaison office operational within four months. Three years of clean RBI compliance. Now transitioning to wholly owned subsidiary.
Client
Foreign Company (Germany) · Industrial Machinery · Mumbai
Expertise
End-to-end RBI liaison approval · FEMA compliance · Annual Activity Certificates · Commercial boundary advisory · WOS conversion
Financial AdvisoryAdvisory
Independent Financial Advisor — Proprietorship to LLP for Tax Efficiency
Result
Effective tax rate reduced by 8–10 percentage points. AMFI/ARN transferred without trail income disruption. Practice now structured for partnership.
Client
Sole Proprietor → LLP · IFA / MF Distribution · Mumbai · ₹1.4 Crore trail income
Expertise
Entity comparison · LLP incorporation · Incoming partner sweat equity · AMFI registration & ARN transfer
Immigration / GlobalAdvisory
Golden Visa Provider — India Back-Office on EOR Terms, 60-Day Clean Exit
Result
When Portugal cancelled its programme, client wound down India operations in 60 days — zero FEMA exposure, no liquidation proceedings.
Client
Foreign Company (Portugal) · Immigration & Residency Advisory
Expertise
Regulatory risk assessment · India staff on NDSA payroll with full compliance · FEMA & TP exposure eliminated · Clean contractual wind-down
USA / Market EntryAdvisory
US Founder — Testing India Market Without Incorporating an Entity
Result
Founder exited in days after market test — no inactive company to wind up, no MCA filings, no FEMA complexity, no director liability.
Client
US-Based Entrepreneur · Technology / Services · India Market Entry
Expertise
Entity vs EOR risk comparison · Operations under NDSA entity · 6-month evaluation with exit option · No Indian bank account or director obligations required
Real EstateAdvisory
Real Estate Developer — Freeing the Director From Accounting to Focus on Sales
Result
Renewed sales focus measurably improved revenue. Not a single tax deadline missed. Director describes it as the best investment the business made.
Client
Real Estate Developer Group · Mumbai Region · Ongoing Retainer
Expertise
Full accounting function takeover · On-site NDSA manager · GST, TDS & advance tax calendar · Monthly MIS reports · Director bandwidth redirected
Your situation will be different. The process won't be.
Every engagement starts with a free consultation — no obligation, no billable clock. Tell us the situation and we'll tell you plainly what you need.
Client names withheld for confidentiality. Each engagement reflects active work by our partners and tax teams.