AO obliged to give eligible deductions when making additions for income not disclosed in return of income-ITAT allowed 54F deduction for…
Question of source of purchase relevant only for year of purchase not sale. Bank deposits made out of property sold…
Deduction 54F-House used for commercial activity not counted for limit of one residential house on the date of transfer of…
Levy of fee u/s 234E before 01.06.2015-in view of difference between High Courts, the one in favour of assessee needs…
Unilateral writing off liability in the books of creditor can not be taxed u/s 41 in the hands of the…
AO not required to adjudicate oral objection on reopening of assessment u/s 148 in the absence of any specific objection…
Repeated purchase of same scrip and immediate sale on daily basis to take advantage of the market fluctuations was business…
Roads and common facilities area in land development agreement also part of assessee’s share in land for capital gain purpose…
Penalty u/s 271B for sales disclosed during survey can not be levied for failure to get accounts audited u/s 44AB…
Expenses claimed in profit and loss account not amount to concealment. ITAT deletes penalty u/s 271(1)(c) following Supreme Court judgment ABCAUS…