Validity of Assessment after special audit under section 142(2A) if Mechanical approval granted by CIT just to extend limitation under section 153(1)
Unexplained creditors and addition u/s 68: Assessee had proved the payment through banking channels in the next year
Bogus Purchases: Entire purchases could not be brought to tax but only the profit element could be brought to tax
Reassessment proceedings could not be held invalid merely on the reasoning that there was no addition made by AO on account of freight expenses of Bogus Purchase
Adjusting tax liability against purchase input to be deemed as actual payment eligible for Sec. 43B relief: HC
Selling flats at amount lesser than stamp duty justified as flats had no parking space & electricity connection: ITAT
Whether interest on late payment of TDS can be imposed on an assessee where clearance of the assessee’s cheque for TDS payment is delayed due to technical error on part of the bank?
Whetherany incriminating material found during the course of an Income Tax Search on any other person can be consideredin the assessment under Section 153A of the assessee- A study
CBDT issued another clarification on Section 194O, section 194Q, section 206C of the Income-tax Act, 1961