Cash deposits in bank can be explained as out of gross receipts u/s 44AD from contract business. ITAT deleted addition…
Exemption u/s 54F for plot in the name of HUF allowed by ITAT following High Court judgment as members of…
Addition for inadequate drawings deleted as the assessee was vegetarians and non alcohol, residing at small town with no luxurious…
It is not uncommon for a lady who is on her own to have cash for emergencies. ITAT upholds the…
Commission paid to employees partakes character of salary and TDS is applicable only u/s 192 not under Section 194H –…
The assessee alone can decide whether to keep cash in locker or deposit in bank FDR. ITAT deleted addition made…
Depreciation on fixed assets classified as capital work in progress allowed in the revised return when corresponding income was taxed…
Pre-dating demand notice even before the assessment order was passed showed the assessee was denied any opportunity of hearing in…
Addition for unexplained cash credit u/s 68 deleted when assessee’s accountant wrongly passed such entries in the books of accounts…
Penalty u/s 271(1)(c) deleted for claiming depreciation on assets for which invoices were raised by the vendor in the name…