Vacancy allowance u/s 23(1)(c) allowable for property not let out due to reasonable cause or despite effort. Municipal rate substituted…
When AO not submitted remand report, no adverse inference can be taken against assessee. The order of CIT-A was bizarre…
Issue of notice for prima facie adjustment u/s 143(1)(a) of the Income Tax Act. ITBA Instruction for processing of ITR…
Computation of turnover for share/derivatives trading and applicability of Section 44AD. AO to either follow ICAI guidance note on tax…
Startup Certification u/s 80-IAC & exemption u/s 56(2)(viib) of Income Tax Act- Govt. amends Startup Rules MINISTRY OF COMMERCE AND…
Partners remuneration as allowable u/s 40(b)(v) in profit-sharing ratio. ITAT upheld the remuneration clause in the partnership deed ABCAUS Case…
No penalty u/s 271A when assessee was under Bonafide belief that being covered under section 44AF he was not required…
Rectification order u/s 154 revising NP rate on the basis of previous year’s chart was beyond the scope of rectification…
Even if at passing the original assessment order, there is a mistake or non-application of mind, initiation of re-assessment the…
Statement recorded u/s 131 though binds the assessee cannot be independently used for making addition unless corroborated by evidences -…