Section 50C has no application in case the entire net sale consideration has been applied for acquiring the new house…
No disallowance u/s 40A(3) where payments not claimed as expenditure. ITAT deletes addition as alleged cash payment was made for…
Amount received on sale of prepaid cards to the extent of unutilized talk time did not accrue as income in…
High Court quashes MCA list of disqualified directors of “struck off companies” u/s 248. Section 164(2) would have prospective and…
High Court stayed confiscation of goods made simply on confidential information received from higher authorities to stop the vehicle, without…
Merely cash withdrawals at one point of time cannot be a sole basis for explaining the cash deposit in future.…
AO should examined return of income and carry out initial investigation before coming to the conclusion that income has escaped…
Not providing certified copy of penalty order was reasonable basis for seeking condonation of delay in filing the appeal before…
Penalty U/s 271(1)(c)-Unspecified charge in notice can be made good with a clear-cut finding in penalty order - ITAT explains…
Prosecution 276C(2) - Evasion of tax vs evasion of payment of tax. High Court quashed prosecution when ITAT reduced income…