Merely because a registered sale deed was not executed, the genuineness of consideration received under agreement to sell cannot be doubted
Section 153C arises only upon timely recording of satisfaction. If this foundational step is delayed without justification, subsequent actions lose legal validity: Gujarat HC
Raipur ITAT on Penny Stock Addition: Not permissible mechanically without any direct evidence showing the assessee’s involvement in rigging or providing/receiving accommodation entries
To have rectification power of ITAT under section 254(2), an issue must be self-evident without need for elaborate argument or re-examination.
What is not taxable under section 5(2) cannot be brought to tax indirectly through a deeming fiction under section 69.
Applicability of Section 54F When Assessee Holds a Jointly-Owned Residential Property: Legal Analysis, Case Law, and ITAT Delhi Ruling in Kusum Sahgal v. ACIT
TCS on Motor Vehicles Above ₹10 Lakh: The Most Misunderstood Provision in Income Tax-And Why Even Second-Hand Dealers, Companies, Firms and Large Individuals Must Comply
ITAT Mumbai Deletes ₹10.84 Cr Addition Against Preity Zinta; Holds Loans Were Genuine, Not Unexplained Cash Credits
Whether the reclassification of business loss as speculation loss constitutes “under-reporting of income” for applicability of penalty under section 270A?
