Penalty proceeding of a company in old Name – Minor errors in notices or proceedings do not invalidate the proceeding: Delhi HC
Invocation of section 263 is not justifiable if the same is the result of difference of opinion: ITAT Ahmedabad
AO didn’t adequately considered the evidence in the form of allotment letter and the timing of the agreements: ITAT, Mumbai deleted addition U/s 43CA
CBDT Advisory for accurately completing Schedule Foreign Assets and reporting income from foreign sources in their ITRs.
No independent investigation conducted – ITAT Surat curtailed addition of cash deposit done during demonetization period
Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 9A/10/10B/10BB for Assessment Year 2018-19 and subsequent assessment years
Expenses incurred for payment of foreclosure premium of loan is allowable as business expenditure U/S 37(1): Madras High Court
The Legal Principle of “Functus Officio” & Bombay High Court ruling in Alcohol Based Sanitizer classification
Only official revenue records or evidence from relevant authorities can determine if land qualifies as agricultural under Section 2(14) of the Income Tax Act: Delhi HC
Statement recorded during Survey u/s 133A has no evidentiary value – Any admission made merely on the basis of statement is illegal
