CBDT cannot issue circular with retrospective effect-Supreme Court. Revised monetary limits for appeals to apply prospectively. CBDT vide Instruction No.…
No delay condonation application was required for appeals when the order was received late- ITAT restores appeals of the assessee…
Penalty can not be imposed on the basis of findings of assessment proceedings as they cannot automatically be adopted in…
Penalty for late filing VAT return-balance sheet held non compensatory and disallowed as per Explanation -1 to section 37 as…
Refund granted should be adjusted first towards interest component and balance left if any shall be adjusted towards the tax…
Addition based on judicial precedence in other cases unsustainable without first addressing the factual inadequacy of assessee’s explanation - ITAT…
Cash received over and above land registry price treated as capital gain for taxation purpose. Addition on account of unexplained…
Adding new source of income by CIT-A is beyond his powers u/s 251 of Income Tax Act if such new…
Supreme Court explains scope and interpretation of Section 44BB of the Income Tax Act 1961. Provisions of Sections 5 and…
Reassessment quashed for being a change of opinion when view and opinion formed by AO in original assessment were doubted…