Merely cash withdrawals at one point of time cannot be a sole basis for explaining the cash deposit in future.…
AO should examined return of income and carry out initial investigation before coming to the conclusion that income has escaped…
Not providing certified copy of penalty order was reasonable basis for seeking condonation of delay in filing the appeal before…
Penalty U/s 271(1)(c)-Unspecified charge in notice can be made good with a clear-cut finding in penalty order - ITAT explains…
Re-assessment order passed in violation of guidelines laid down by the Supreme court in the case of GKN Driveshaft Ltd.…
DVO Report based on mere estimate not sufficient information for the purpose of reopening assessment u/s 147. ITAT deleted addition…
Motor car purchased by cash gift from wife and mother-ITAT upheld addition for unexplained cash as mere filing confirmations not…
Interest on FDRs-deduction of Interest paid on unsecured loans taken to make investment in bank FDRs allowed u/s 57(iii) in…
No entity could earn gross receipts, only profit embedded to be treated as income. ITAT upholds the order of CIT(A)…
Ad-hoc disallowance not within permissible arena of taxing statute which is essentially welfare in nature – ITAT ABCAUS Case Law…