Deposits per se in the bank account no basis of holding that income has escaped assessment. Nothing can be added…
Mere categorisation of land as agricultural in revenue records not suffice for capital gain exemption. Whether a land is agricultural…
Addition made in computation of income comes under Explanation 1(B) of Section 271(1) related to concealment penalty under the Income…
Provision for interest on overdue fixed deposits was ascertained liability as the assessee was able to identify it when it…
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…