Disallowance u/s 40A(3) of payment of partners salary in cash. ITAT remands the case in view of Supreme Court judgment…
Disallowance u/s 40A(2) for unreasonable increase in directors remuneration deleted as AO not carried out exercise to determine fair remuneration…
Bogus purchases additions not based on average GP or NP declared by the assessee in preceding years or some reasonable…
Depreciation and provision for maintenance on BOT project allowable. ITAT distinguished decision of Bombay High Court & held in assessee's…
Corporate membership of club of Managing Director (MD) of the company allowed as incurred wholly and exclusively for the purpose…
Assessee should maintain accounts pertaining to entire agriculture activity to substantiate the claim of agriculture income - ITAT ABCAUS Case…
CIT cannot direct AO u/s 263 to decide whether the findings recorded are erroneous without his own clear finding that…
Deemed dividend u/s 2(22)(e) applies only to net debit balance of advances in all accounts where assessee is maintaining multiple…
Section 54F exemption not require that land on which construction of property is made must be owned by the assessee.…
Arm’s length rate of interest is the rate prevalent in country of AEs where loan is received/consumed and not the…