No disallowance for cash payments u/s 40A(3) if genuineness of transactions and identity of the payee is established. ITAT deleted…
Reopening for not replying to invalid and non est inquiry letter for cash deposited in bank quashed. Deposit per se…
Addition u/s 69B for difference in stock from statement given to Bank deleted as in preceding year it was deleted…
No Penalty u/s 271(1)(c) for mere disallowance in quantum proceedings in the absence of any falsity in the explanation offered…
Assessee is eligible for the deduction of the amount embezzled by the employee as a trading loss u/s 28 of…
Mere reflection of income in P&L Account does not make it business income. Books of accounts not conclusive evidence to…
Exemption u/s 54F could not be denied for fraud by builder in constructing building without NOC not disclosed to the…
Allowability of Exemption u/s 54 where new residential property used partly for commercial purposes . ITAT remanded case for verification…
Change of opinion not permissible for invoking proceedings u/s 147. ITAT quashed reassessment for payment of managerial remuneration in proprietorship…
Issue of notice u/s 148 by Non jurisdictional AO not valid. Section 292BB not applicable where assessee had already objected…