No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to High Court…
Penalty initiated for concealment levied for inaccurate particulars and concealment both is invalid. AO must frame a precise charge u/s…
Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for goods in…
50C provisions not apply to transfer of right in partnership firm. Sale deed was executed in favour of incoming partners…
No Penalty 271(1)(c) if primary information is furnished with ITR as held by Supreme Court in the case of Reliance…
Business income or STCG-Frequency-repetition of sale purchase not conclusive. Factors like main business / profession of assessee, intention while purchasing…
Depreciation claim disallowed-defective machine not ready to use. Legal ownership not a must but the machine if not used, should…
Security deposit written off allowed as business loss us 37(1) even though rent security w/o in books was claimed wrongly…
Penalty us 221(1) on tax due as per revised return of income. It is not correct to levy penalty on…
CIT-A can decide appeal against CIT revision order us 263 when no direction given to make assessment in a particular…