Legality of roping in an unconnected third party in the rigors of an Income Tax Search and Seizure action (including bank lockers of such unconnected third parties)
Input Tax Credit & dummy and sham firms – fake and fabricated invoices without supply of any physical goods
Constitutional validity and legality of section 194N of the Income Tax Act, 1961 challenged- Interim Stay Granted to the petitioner
Only when there is a genuine liability and there is cessation of such liability or it is written off in the books of account, then section 41(1) can be applied.
Validity of addition on the basis of statement recorded of third-party without incriminating material found during search
Landmark Judgement : If loan was not received during the relevant assessment year, no addition can be made under section 68
Accountants Salary: Disallowance u/s 40(a)(ia) if Assessee failed to establish employer-employee relationship
Even if the assessee does not maintain books of account, under general principles Assessee is bound to explain the nature and source of a receipt.
