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…
Penalty 271B deleted as accountant had to look after business activities due to assessee neurological problem. Hence he failed to…
Addition for bogus purchase deleted as AO conducted enquiry u/s 133(6) from the different supplier having name similar to actual…
Doctors retainership fee held taxable as professional income not salary. The agreement demonstrated no master-servant relationship ABCAUS Case Law Citation:ABCAUS…
Revision u/s 263 done on issues not covered under limited scrutiny quashed as AO had already verified those issues for…
Income Tax Act is welfare not penal legislation. intention is to provide benefit of doubt to assessee in the given…