Assessment itself is not a process to penalise assessee for earning undisclosed income – High Court upheld application of peak…
Actual use of asset not the sole test for allowability of depreciation and it may be allowed when business only…
It can never be the object of assessment proceedings to find an empirically, absolutely correct solution on every fact issue…
Penalty u/s 270A deleted as assesse filed revised computation during scrutiny correcting the mistake which was noticed only after the…
Penalty u/s 271B for unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. for previous…
Merely rectifying computation without amending assessment order without notice to assessee does not nullify the entire assessment - ITAT In…