Assessment order has to be read as it is and there is no scope for drawing any inference or reading…
Belief of the Assessing Officer regarding escapement of income should be based on some tangible information In a recent judgment,…
Capital gain tax in JDA is in the year of receipt of constructed area and not in year of entering…
Simply holding that AO was required to make more enquires is not a valid ground to hold assessment order as…
Limitation u/s 138 of NI Act starts after expiry of 15 days period to make payment from the date of…
Assessee can not be prevented from claiming an income exempt merely because such income was wrongly offered in ITR which…
CIT(A) directed to consider rectification application u/s 154 against CPC adjustment made u/s 143(1)(a) In a recent judgment, ITAT has…
No penalty can be levied if AO failed to record such satisfaction in assessment order. Penalty proceedings would necessarily be…
There is no presumption that people having low income cannot have small saving In a recent judgment, ITAT has deleted…
Addition u/s 40A(3) deleted- CBDT can not impose new condition for grant of benefit which are not provided in Act…