Income Tax Act is welfare not penal legislation. intention is to provide benefit of doubt to assessee in the given…
Revised Returns filed belatedly after amalgamation of companies was held to be valid by the Supreme Court in view of…
Failure of AO to apply/examine applicability of section 184(5) makes the assessment order erroneous and prejudicial to the interests of…
Reassessment u/s 148 due to credit card payment. ITAT directed AO to delete the addition made in view of returned…
Presumptive tax u/s 44AE - No addition for cash deposit in bank made out of business receipts unless rebutted by…
Human probability is that truck drivers would insist for cash payment-ITAT deleted additions u/s 40A(3) for cash payments ABCAUS Case…
Benefit of exemption u/s 54F before its amendment can be extended to a residential house purchased outside India. ITAT allowed…
Late fee u/s 234E is imposed towards extra effort and resources for processing delayed TDS returns. ITAT dismisses assessee’s appeal…
In Motor Accident Claims income must be determined on the basis of the income tax return, where available. – Supreme…
Issuance of notice on wrong address not confers right on the Assessing Officer to get the notice served u/s 143(2)…