CMA-Writ against 3 years exemption withdrawal in cost accountancy exam dismissed. Amendment to ICMAI Regulation 41(2) not retrospective-High Court ABCAUS…
Advance tax not payable-Income declared after financial year closure. ITAT deleted interest u/s 234B and 234C on income declared in…
Rule 8D not applicable to shares held as stock in trade. Calcutta High Court upheld ITAT judgment deleting disallowance made…
Jurisdiction cannot be conferred even by consent of parties. Acquiescence or any principle of law can not confer legality to…
Unreasonable penalty shakes confidence reduces voluntary compliance by the taxpayers. Revenue officials should be careful and reasonable in levying penalty-…
Assessment on the basis of AIR without notice us 143(2) void ab initio without jurisdiction and liable to be quashed,…
No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty…
Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder…
DG Income Tax-Exemptions action illegal in not taking decision on assessee's application seeking approval under Section 80 IB(7)(c)-Allahabad HC ABCAUS…
No Interference with findings of facts unless relevant evidence not considered or finding arrived by ITAT placing reliance on inadmissible…