Penalty u/s 271D stayed as assessee denied having received cash loan and matter was pending in Civil Court In a recent judgment, the Hon’ble High Court has stayed penalty order u/s 271D stayed as assessee denied having received cash loan and matter was pending in Civil Court. ABCAUS …
Non allocation of common expenses for deduction u/s 80IA – ITAT quashed revision order Non allocation of common expenses to eligible business for claiming deduction u/s 80IA – ITAT quashed revision order u/s 263 passed by PCIT In a recent judgment, ITAT has quashed revision order u/s 263 …
High price of land sold no reason tax it as business income when its class remained Krishi bhumi In a recent judgment, ITAT has held that land sold can not be treated business income when its class not changed from Krishi bhumi and not changed to commercial land …
CIT(A) incorrect in not adjudicating the ground raised merely because AR agreed not to press it In a recent judgment, the ITAT has held that CIT(A) was incorrect in not adjudicating the ground raised in appeal merely because AR agreed not to press it ABCAUS Case Law Citation:ABCAUS …
Confiscation of stock under GST Act cannot be made on the basis of eye estimation only Confiscation of stock u/s 130 of GST Act cannot be made on the basis of eye estimation only- Allahabad High Court quashed confiscation of goods and levy of penalty ABCAUS Case Law …
Residential Flats held as stock in trade-Municipal rateable value to be adopted for determining income from house property In a recent judgment, ITAT has held that in respect of residential Flats held as stock in trade, the municipal rateable value to be adopted for determining income under the …