Revision order passed without confronting assessee with material in possession of CIT breached principles of natural justice. Though variance in…
Depreciation claimed on land was not sheer mistake. High Court upheld sentence u/s 276C/277 of the Income Tax Act, 1961…
Transfer of capital from proprietorship to partnership was not reconstruction u/s 10AA, dis entitling the assessee firm the benefit of exemption-High Court …
It is for assessee to decide how to utilize loan in business, Court not to substitute its opinion over his…
No addition for inflated statement of stock submitted to banker when no discrepancy was found in physical verification and books…
Statements made by stranger-third party in search case unless connected or corroborated could not be attributed to or lead to…
Section 80-IC deduction unavailable on fixed deposit interest–High Court. The benefit is available only for carrying on business mentioned in…
Reopening for overlooking transactions with associated enterprises and not referring them to TPO for computation of at arms’ length income…
High Court bans CA for one year for connivance in anti-dated stock invests issued by Bank and irregular share allotment on…
Conditions u/s 80IA are disjoint not cumulative. Conditions stipulated under section 80IA(4)(i) and 80IA(4)(iv) are held as disjointed by the…