Reopening is bad in law if it is by relying on the same set of material and the audit objection and using the same materials
Penalty under section 271AAB quashed as notice has a fatal error as it intends to penalize an assessee without spelling about the charge against the assessee
The task of interpretation of a statutory enactment is not a mechanical task. It is more than a mere reading of mathematical formulae: Supreme Court
Purchase by assessee could not be treated as bogus if Assessing Officer did not dispute corresponding sales transactions
Whether the amount paid to clear the bank mortgage of the previous owner is deductible while computing capital gain?
Consequences if the CA uploads audit report without UDIN or fails to update the UDIN within 15 calendar days
Penalty imposed under section 271AAB quashed as the notice issued u/s. 274 r.w.s 271AAB was defective.
Science has not yet invented any instrument to test the reliability of the evidence placed before a Court or Tribunal- Supreme Court in CIT Vs. Durga Prasad More
If the plain literal interpretation of a statutory provision produces a manifestly absurd and unjust result, the Court may modify the language used by the Legislature or even “do some violence” to it, so as to achieve the obvious intention of the Legislature: Supreme Court
If the assessee has maintained regular books of accounts, bills, vouchers and day to day stock register having complete quantitative details, addition U/s 68 is not proper.
Agreement to sale entered prior to introduction of section 43CA –No addition even though the amount was received in cash if the stamp duty valuation was less at the time of agreement
