Market value of stock instead of cost no basis to determine undisclosed income. Penalty u/s 271AAB not mandatory ABACUS Case…
Expenditure on ERP Software allowed as Revenue in nature despite being treated as deferred revenue expenditure in the books of…
Daughters have coparcenary rights from birth even if father not alive on commencement of Hindu Hindu Succession (Amendment) Act 2005…
No Penalty u/s 271AAB unless undisclosed income found from seized material. Disclosure made in statement u/s 132(4) not sufficient to…
Penalty u/s 271(1)(c) upheld despite notice without striking off the not applicable charge as in penalty order AO specified the…
Education cess & Secondary and Higher Education Cess are allowable deduction while computing income chargeable under the head of profits…
Exemption u/s 54F for investment in name of wife allowed when non-jurisdictional High Courts had different opinions and no decision…
Deeming provision of section 68 not apply if no sum is received in terms of any money, i.e., in cash…
Treating expenses bogus without appreciating replies received u/s 133(6) unfair. AO always expected to examine replies of the recipients of…
Penalty 271(1)(b) deleted as assessee had furnished medical certificate of treatment for depression and AO did not bring anything against…