It is a settled position of law that while granting registration u/s 12AA CIT (Exemptions) is required to examine the…
Under mercantile system of accounting interest payable is equal to paid. ITAT deleted disallowance on the ground that interest was…
Genuine expenses wrongly claimed as deduction not attract penalty u/s 271(1)(c) for furnishing the inaccurate particular of income ABCAUS Case…
No Penalty u/s 271B where assessee under bona-fide belief failed to get accounts audited u/s 44AB despite turnover exceeding threshold…
Notice for initiation of complete scrutiny assessment proceeding prior to receipt of approval by Pr. CIT i.e. in anticipation of…
Claim of exemption u/s 10 for agricultural land not liable to penalty u/s 271(1)(c). ITAT directed Assessing Officer to delete…
Additions agreed during assessment proceedings can be challenged in appeal when assessee itself not made disallowance in return of income…
Partners remuneration / interest on capital allowable from estimated profit. ITAT allows deductions following decision of Jurisdictional High Court ABCAUS…
No merit in holding that estimated addition has to be made on account of fall in gross profit rate. ITAT…
When cash deposit was fully explained no peak credit addition was required as directed by ITAT while remitting the matter…