When a receipt is not in the character of income, it cannot form part of the book profit under section 115JB of the Act, 1961.
Validity of addition as a result of difference in the valuation of the Stock as per the Tally ERP vis a vis as computed by Income Tax Department Survey Team
Powers of ITAT u/s 254 does not mean power to grant stay of demand by waiving off 20% pre-deposit: Mumbai ITAT
In absence of valid service of notice under section 148 of the Act, the assessment proceeding under section 147 of the Act has to be declared as invalid.
No penalty for accepting loan in cash from sister concern for making labour payments at far off places and there was an urgency to do so: Orissa HC
No addition u/s 69A for cash deposits during demonetization if the same is routed through regular books of account of assessee which was not rejected by AO: Chandigarh ITAT
Delhi HC decides the date of issue of notices sent through various modes for purposes of time-barring reassessment.
No reference made to the clarifications of the appellant in the order for rejection of exemption, order to be set aside: ITAT
Section 80P deduction is available if the income tax return is not filed: ITAT analyzed section 80A (5)
Deduction for provision of doubtful debts may be allowed even if assessee has not written off such provision in ledger a/c of Book Debt
Registration Restored despite the fact that the application for revocation / appeal was not made in time.
