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
Capital Gain exemption admissible if the taxpayers acquired substantial domain over the house property and has paid the entire cost
If substantial investment is made, the capital gain exemption is admissible even if the construction is not complete
Whether a society can claim credit for invoice received for repairs and maintenance services (“Works Contract”) of the building and adjust the same against their output tax liabilities on account of contribution from members?
Merely raising the dispute before any authority cannot be a ground not to levy the interest and/or waiver of interest under section 220(2A)
Genuine & Bonafide Taxpayers not to be benefited by the recent CBIC circular for mismatch of GSTR-3B & GSTR-2A
If the cash sales and receipts are duly supported by relevant bills which were produced in the course of assessment proceedings, addition U/s 68 is unwarranted
Non-sharing of all the relevant details and documents related to escapement of income & validity of section 148 notice
