Sanction of Prosecution u/s 276B set aside due to Covid-19 pandemic and TDS being deposited within three months In a recent judgment, Hon’ble Rajasthan High Court has set aside sanction of Prosecution u/s 276B as assessee suffered from Covid-19 pandemic and TDS was deposited within three months with …

Assessee cannot be asked to prove source of cash deposit made in bank account opened by forgery – ITAT  In a recent judgment, ITAT, Delhi has held that assessee cannot be asked to prove source of cash deposit made in bank account being opened by someone else by …

Expenditure can’t be disallowed because it is not debited in Profit and Loss Account – ITAT  In a recent judgment, ITAT Guwahati has held that only because of expenditure not debited in Profit and Loss it does not disentitle assessee to claim deduction of the said expenditure if …

Tax recovery on the basis of wrong computation sheet stayed as tax liability was NIL as per Assessment Order In a recent judgment, the Hon’ble Andhra Pradesh High Court stayed recovery of tax on the basis of wrong computation sheet when returned income was accepted and as per …

There is no provision under Income-tax law for making ad-hoc disallowance of sundry creditors – ITAT In a recent judgment, ITAT Surat has quashed ad-hoc addition of creditors holding that there is no provision under Income-tax law for making ad-hoc disallowance of sundry creditors.  ABCAUS Case Law Citation:ABCAUS …

In case of non-filer notice u/s 143(2) not mandatory and notice issued u/s 142(1) is sufficient – ITAT In a recent case, the ITAT Guwahati has held that in case of non-filer notice u/s 143(2) not mandatory and notice issued u/s 142(1) is sufficient ABCAUS Case Law Citation:ABCAUS …