Depreciation disallowed when entire asset block not put to use during the year. The Claim that asset once entered block,…
Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted The penal provisions are to curb black money…
No additions us 68-accounts not maintained us 44AF under presumptive taxation. The section operates only where books are maintained and…
Addition of purchases made in March month to closing stock on the assumption that items purchased in month of March…
Penalty us 2711c imposable on voluntary surrender-disclosure to avoid litigation and to buy peace of mind, as it does not…
FDR Interest Business Income-No addition when books rejected In an interesting judgment which is quite opposite to the view held…
Peak credit theory not applicable when cash not withdrawn but only deposited in bank account and used for investment in…
FDRs Interest was business income but not contract income. Interest on Margin Money deposits for obtaining bank guarantee is not…
Penalty 2711c - Pending Petition us 154 to be verified/disposed off first and penalty be dropped if the claim of…
Disallowance 40A3-two proprietorship concerns of same assessee. In the absence of alleged tax evasion, additions for cash purchases not warranted-ITAT…