Conversion of shares as stock-in-trade into investment-no prohibition in law. Res-judicata no bar in like questions in subsequent years-Kolkata High…
Land within municipal limits can not be treated agricultural based on revenue record. Revision u/s 263 upheld for assessment based…
Revision us 263 on reasons unconnected with grounds of reopening which was for specific purpose. Calcutta High Court upholds revision…
Unexplained income-cash deposited in bank after 2-3 months gap held not probable as withdrawals made in small amounts mostly by…
Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds - Punjab…
Delay in filing appeal condoned as CA was unaware of law. Quality of explanation, legal assistance to litigant, and detriment…
Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). In a recent judgment, the Hon'ble Delhi High…
Section 68 applicability to share premium or share application money upheld. Section is widely worded to include capital account receipts-Calcutta…
Exemption us 11 can not be denied if not filled in Schedule-F when the verification clause of ITR-7 was duly…
Interest expenditure Disallowance u/s 36(1)(iii) for interest free loan-Allahabad High Court says business expediency not a must, earlier Division Bench…