AO power to extend time for submission of special audit report u/s 142(2A). Power of suo moto extension was inserted…
Trust is entitled to deduction u/s 54F by fiction of section 161. Deduction can not be denied on the ground…
Principles for writing off bad debts u/s 36(2) as laid down by Courts-ITAT explains. Writing off & claiming deduction are…
Penalty 271(1)(c) Merely if suppliers not traced at given address not indicative of concealment of income or furnishing of inaccurate…
No Penalty 271(1)(c) for disallowance 43B if quantum not disputed and following mercantile accounting it could be debited to Profit…
Penalty 271(1)(c) Non-deletion of few words not invalidated notice or caused any prejudice to the assessee when relevant clause was…
Bogus purchases-when sales not disputed entire addition not warranted. ITAT estimated addition @12.5% of alleged bogus purchases ABCAUS Case Law…
Revision us 263 set aside as CIT did not do homework. No record was called for examining the issue or…
Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted…
Deemed Dividend-Loan to firm where partners are shareholders of the company. Advances not considered deemed dividend u/s 2(22)(e) ABCAUS Case…