Advance for share application money can’t be treated as loan just because shares were allotted after delay of 6 months: ITAT
Capital Gain Exemption: Due date for furnishing the return of income u/s 139(1) is subject to the extended period provided u/s 139(4)
Section 53A of the Transfer of Property Act vis a vis Section 2(47) of the Income Tax Act: An overview
If the PF amount had been deposited within permissible grace period, no disallowance can be made u/s 43B
Entries in the books of account are not relevant for rejecting the claim of the assessee if it is otherwise allowable
Once the assessee is entitled to avail of deduction u/s 80P, the entire amount hat are attributable to any one or more activities must be given by way of deduction: Supreme Court
Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part1)
Compensation paid to the family members of deceased, even though non-contractual payment /gratuitous payment cannot be disallowed.
Capital gain exemption u/s 54 or 54F cannot be denied if taxpayer has invested the amount within time allowed u/s 139(4)
Refundable security deposit cannot be said to be of the nature of trade receipt & cannot be treated as in the revenue account
