Non-filing of ITRs by lenders can give rise to suspicion for the lack of creditworthiness but not sufficient to draw…
Some tax evasion sought by assessee is a necessary condition for imposition of penalty u/s 271(1)(c). What has to be…
Reassessment made by issue of notice 143(2) before filing of return of income is invalid and not sustainable in the…
Can Income Tax Authorities be held in contempt of Court in not following their judgments cited before them by the…
Addition for bogus purchases as unexplained cash credits whether u/s 68 or u/s 41(1) as cessation of liability? No additions…
Bank passbook / statements not books of account of assessee and hence no addition can be made u/s 68 of…
Deeming provision of section 68 not apply if no sum is received in terms of any money, i.e., in cash…
Mere TDS deduction not decisive factor to treat payment received as income of the assessee ABCAUS Case Law Citation:ABCAUS 3347…
Cash credit entries in books of a firm, in absence of material to indicate that they were its profits, could…
Quantum addition for unexplained cash credits u/s 68 quashed by the Supreme Court based on the findings of penalty proceedings…