Merely increasing agriculture expenditure & reducing agriculture income will not result in income from other sources - ITAT In a…
Expenses for making house habitable are not renovation expenses and hence qualified for exemption u/s 54 In a recent order,…
Commercial expediency - Expression “for the purposes of the business” is wider than "for the purpose of earning profits” -…
Issue decided on merits by ITAT cannot again be subject matter of reopening of assessment under section 147 In a…
Penalty u/s 270A for claiming bogus deductions deleted by ITAT for failure to identify specific Clauses from (a)to (f) of…
Rotations from Auto Sweep A/c not fresh investments-Addition deleted In a recent judgment, ITAT Mumbai has deleted the addition u/s…
Maintenance charges received from tenants taxable under income from other sources not house property – ITAT In a recent judgment,…
Disallowance u/s 40A(2)(a) without following yardstick for arriving at unreasonableness cannot be sustained - ITAT In a recent judgment, ITAT…
Month wise receipt and income slightly more than last year cannot warrant the cash deposited into the bank account as…
Assessee can maintain two ledger accounts of same person one under the head sundry debtor and another under sundry creditor…