Peak credit addition does not include income after peak balance date. ITAT directed addition of further 8% profit after the…
Input tax credit is admissible if consideration is paid through book adjustment. The GST Act and rules does not restrict…
Entrance fee / onetime fee from new members is capital receipts. Similarly donation towards corpus fund were also eligible for…
Profit rate on bogus purchases reduced as assessee also paid VAT on purchases. ITAT directed AO to recompute income after…
Addition u/s 68-mere non-submission of ITR copy no ground for rejecting explanation, when it was demonstrated that loans had already…
Income offered and taxed in the proceedings before the Settlement Commission, cannot be taxed again in the proceedings u/s 143(3)…
Section 45(5A) is prospective in nature not retrospective. The section provides that the date of handover of the possession is…
Employer deducting Tax on a bonafide estimate cannot be held assessee in default u/s 201(1) as TDS is a tentative…
Penalty u/s 271(1)(c) on proportionate disallowance of interest expenses towards interest free advances given by the assessee deleted ABCAUS Case…
No addition u/s 41(1) can be made unless liability is written off in accounts. AO has to brought evidence on…