There is no concept of pre bargaining under Income Tax Act – ITAT dismisses delayed quantum appeal filed after initiation…
Sale of land made by partnership firm can not be added in partner’s hand. Assessment has to be done in…
Loss by shop burglary arisen during the course of business allowed u/s 37(1) even when Insurance company assessed loss at…
Interest cost for the period for which capital asset was held by the assessee prior to sale not deductible u/s…
Issue of notice u/s 143(2) on the same day return was filed made the entire assessment illegal for being non…
Mere agreeing to increased net profit rate, by itself was no ground to levy penalty u/s 271(1)(c) when it was…
Capital gain arose in the year assessee relinquished his rights in the property at the time of allotment by executing…
Agriculture income can only be estimated by considering land holding size. Even big farmers not maintain details expected by Tax…
Addition u/s 68 for cash deposited in bank received from absconding debtor on the ground that notice sent was received…
No obligation to deduct TDS when CIT had not rejected Form No. 15G filed by the assessee on the ground…