Even a single transaction may constitute business as defined in section 2(13) of the Income Tax Act ABCAUS Case Law…
Some tax evasion sought by assessee is a necessary condition for imposition of penalty u/s 271(1)(c). What has to be…
Incorrect wrong and non-existing reasons recorded for reopening of assessment is non application of mind ABCAUS Case Law CitationABCAUS 3430…
Section 50C of not apply to transfer of leasehold right in plot of land - ITAT allowed appeal following High…
No provision exists for disallowance of expenditure in the interest of Revenue and to avoid the leakage of revenue -…
Reopening notice u/s 148 on wrong presumption that assessee not filed return of income quashed by Tribunal as non application…
ITAT rejects and disbelieves cash gifts by close relatives at the time of marriage and anniversary as no such evidence…
Penalty u/s 271(1)(b) can not be imposed when assessment order passed u/s 143(3) not best judgment assessment u/s 144 ABCAUS…
Delay in filing appeal condoned as auditor sought opinion from tax advocate who misplaced the records ABCAUS Case Law CitationABCAUS…
Assessee can not be taxed for jewellery belonging to family members erroneously or under compulsion offered to tax during search…