Subrata Roy ready to go to Jail if cheques dishonours Recently, Supreme Court had ordered auction of Sahara Aamby Valley…
Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted…
Deemed Dividend-Loan to firm where partners are shareholders of the company. Advances not considered deemed dividend u/s 2(22)(e) ABCAUS Case…
Interest on personal loan taken for business purpose allowed as business expenditure. The assessee could very well attribute the interest…
Secretive commission payment not allowable us 37(1). It was in the nature of bribe to procure business which is prohibited…
Filing false complaints against husband amounts to cruelty. Such Acts of Wife have effect of lowering his reputation in the…
Lack of enquiry or inadequate enquiry. Revision u/s 263 quashed by ITAT applying the large number of judgments of High…
Salary recovered for notice period not taxable salary us 16 as per agreement with the employers when actually assessee had…
Disallowance of interest for drawings out of cash credit account deleted as despite drawings closing balance of capital was more…
Let justice be done though the heavens fall-Supreme Court explains the ambit of Article 142 of the Constitution viz-a-viz powers…