Specifying limb of penalty section 271(1)(c) arises only when addition is made by the AO and not where assessee surrenders…
ITAT explains the law on exemption u/s 10(2A) for partners share of profit in the income of the firm. Revision…
Amendment to section 32(2) is not prospective. Unabsorbed depreciation can be carried forward beyond 8 years, prior to amendment-High Court…
Addition for accommodation entries merely based on statement of investors and without controverting the documents furnished invalid-High Court Prelude: The…
Constitutional Validity of second proviso of section 5(1) of PMLA upheld. Failure to disclose "reasons to believe" would be the…
Having afforded a hearing, ITO can not attach assessee’s bank straightway without informing as to whether the stand taken by…
Comparable company following calendar year for maintaining accounts can not be used in contrast to assessee following financial year ending…
Assessment made without notice u/s 143(2) where ITR-V not received within 30 days can not be sustained. The extended period of…
Special Audit u/s142-2A relying upon the audit Reports of CAG without recording detailed reasons not sustainable. Order passed must show…
Share application money circular transaction addition u/s 68 deleted where loan creditors had subscribed out of the loans repaid by the company-ITAT…