Assessee’s explanation may not be sufficient for deleting addition on merit, however, in penalty proceedings it deserves to be accepted…
CPC intimation treated as original notice of demand u/s 156 for filing appeal. CIT(A) rejected appeal as defective but ITAT…
Closing debit balance of directors current account not deemed dividend u/s 2(22)(e) if no fresh loan/advance was given during the…
CIT-Appeals is not Assessing Officer hence can not initiate or levy penalty. The enhancement of penalty u/s 271AAA by CIT-A…
Assessment order u/s 153C will supersede an earlier order passed u/s 143(3). ITAT allowed the additional ground raised and restored…
Non service of notice-affidavit of director cannot be brushed aside lightly. ITAT remands the issue to Assessing Officer to decide…
Disallowance For prepaid insurance expenses set aside on the principle of consistency where incurrence of expenditure for the purposes of…
No Penalty u/s 271(1)(b) when as per the assessment order, the assessee appeared time to time and explained return, furnished…
No concealment penalty based on circumstantial evidence of bogus purchases where the income was estimated on the basis of circumstances…
Alleged gift from foreign citizen on his death held colouring device as it was based upon undated nomination paper not…