Assessee cannot be penalized for non response or non attendance by creditors in response to notice when all details regarding…
No requirement to file Form-10B at the time of registration u/s 12AA. Audit Report in Form 10B is to be…
No Addition for cash deposits in bank when sufficient cash is in hand. Assessee not supposed to keep track of…
Concealment penalty deleted as assessee was unaware of tax on sale of property. Assessee agreed to pay taxes on the…
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…