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.…
When appeal from order of CESTAT lie before Supreme Court or to the High Court u/s 130E or 130 of…
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…
Company filing complaints/petitions against various CAs in organised manner fined with Rs. One lakhs to discourage making litigation a business.…
There is no requirement to obtain NOC from previous auditor. Dissuading other CAs from taking up audit not object of…
Set off of STCG loss with STCG allowed despite the assessee had not claimed it in his return of income…
Assessees maintaining and not maintaining stock register cannot be equated. ITAT directs addition on estimate basis for possible leakage of…