Penalty u/s 271B deleted for frequent change of Managing Director resulting delay in statutory audit causing delay in audit u/s…
Allowing telescoping of surrendered income against bogus sundry creditors appearing in the books of accounts was wrong - ITAT ABCAUS…
Chartered flight travel by a charitable society enjoying tax benefit was an unreasonable expenditure. ITAT confirms addition for want of…
Interest Income paid on Interest Bearing Maintenance Security by Resident Welfare Association held to be allowable expenditure u/s 57(iii) ABCAUS…
Meager or nil income of the lender no reason to make addition u/s 68 as bogus enty. Income may be…
Salary earned for services rendered abroad by non resident not taxable in India treating it as accrued or arisen in…
High Court declined to direct Director Investigation when petitioner was attempting to use the Court as a platform to settle…
Penalty u/s 271(1)(c) on account of deemed dividend addition u/s 2(22)(e) deleted. Penalty cannot be imposed in a debatable issue…
Disallowance u/s 40A(3) for cash payment to agents for onward disbursement towards various expenses set aside. ITAT remands case for…
ITAT accepted explanation for cash deposits in bank account as there were only cash deposits in bank account and no…