Draft Assessment order u/s 144C with demand and penalty notice is illegal as it partakes the character of final assessment…
Exemption u/s 54B available even if part of land is in cultivation, there is no requirement that entire land should…
CBDT revises Guidelines for Compounding of Offences under Direct Tax Laws, 2019 Section 279(2) of the Income Tax Act, 1961…
Penalty u/s 271(1)(c) deleted as addition for bogus purchases was based on estimation and assesee’s conduct was not found contumacious…
Provision of section 68 applicable even if business not commenced but the sum is credited in the books of account…
Tenancy rights not intangible assets, no question of allowing depreciation on it - ITAT. These rights not covered as "any…
Income Tax Department strikes again in J&K Region covering 8 premises in Srinagar and 1 each at Bangalore and Delhi. Undisclosed…
No addition warranted for bogus purchases where GP rate was better than the average GP rate declared by assessee for…
CBDT reverts four Joint Commissioners of Income Tax back to their substantive post i.e. DCIT in view of pending disciplinary/vigilance…
Construction of flats purchasing land amounts to civil construction and profit earned thereon, are eligible for taxation U/s 44AD of…