TDS payable as at year end is allowable expenditure in cash basis of accounting. it can not be said that…
Addition u/s 68 where return is filed under presumptive section 44AF deleted. Addition can not be made based on entries…
Activity of arranging placement for ex-servicemen as security personnel/guards in different organizations was charitable u/s 2(15) of the Income Tax…
A company cannot have any personal expenditure. ITAT deleted ad hoc disallowance on vehicle running and maintenance expenditure ABCAUS Case…
Principles of law and legal position regarding exercise of revisionary powers u/s 263. ITAT explains the twin conditions as laid…
Reopening for escaped FDR income upheld when in original assessment profits was estimated only on contract income ignoring interest income…
Penalty u/s 271E deleted in the absence of proof /receipt acknowledging the repayment of loan in cash by the assessee.…
Waiver of rent payable by tenant amounts to application of income and therefore taxable. It cannot be construed as overriding…
Remuneration paid to partners cannot be disallowed for want of registration of firm. There is no requirement that partnership firm…
Set off of STCG loss with STCG allowed despite the assessee had not claimed it in his return of income…