Addition of purchases made in March month to closing stock on the assumption that items purchased in month of March…
Penalty us 2711c imposable on voluntary surrender-disclosure to avoid litigation and to buy peace of mind, as it does not…
FDR Interest Business Income-No addition when books rejected In an interesting judgment which is quite opposite to the view held…
Peak credit theory not applicable when cash not withdrawn but only deposited in bank account and used for investment in…
FDRs Interest was business income but not contract income. Interest on Margin Money deposits for obtaining bank guarantee is not…
Penalty 2711c - Pending Petition us 154 to be verified/disposed off first and penalty be dropped if the claim of…
Disallowance 40A3-two proprietorship concerns of same assessee. In the absence of alleged tax evasion, additions for cash purchases not warranted-ITAT…
Order passed on deceased person name without bringing legal heirs on record null and void. This was held by ITAT…
Deduction us 80IA-Notional brought forward of losses even when it were set off against income of the assessee in earlier…
Disallowance us 361iii for bank interest on unutilized loan In a recent judgment, ITAT held that once the Assessing Officer satisfied…