Provision for interest on overdue fixed deposits was ascertained liability as the assessee was able to identify it when it…
ITAT explains the law on exemption u/s 10(2A) for partners share of profit in the income of the firm. Revision…
Amendment to section 32(2) is not prospective. Unabsorbed depreciation can be carried forward beyond 8 years, prior to amendment-High Court…
Addition for accommodation entries merely based on statement of investors and without controverting the documents furnished invalid-High Court Prelude: The…
Constitutional Validity of second proviso of section 5(1) of PMLA upheld. Failure to disclose "reasons to believe" would be the…
Having afforded a hearing, ITO can not attach assessee’s bank straightway without informing as to whether the stand taken by…
Assessment made without notice u/s 143(2) where ITR-V not received within 30 days can not be sustained. The extended period of…
Special Audit u/s142-2A relying upon the audit Reports of CAG without recording detailed reasons not sustainable. Order passed must show…
Reimbursement of expenses not income though TDS was deducted on such payments u/s 194C or 194H as contract/commission payments -High…
Approval by CIT even before recording reasons by AO for reopening u/s 147 may reflect premature approval but need not…