Charitable trust: Denial of accumulation u/s 11(2) on account of non-filing of Form No. 10 before due date of filing of return of income if Assessee filed it during assessment proceedings
Deduction under section 80P(2)(a)(i): Denial in the hands of primary agricultural credit societies on the ground of negligible agricultural credits given by assessee’s
No Addition under section 68 if Assessee is not maintaining books of account and his case covered by under 44AD
Charitable trust: Admissibility of excess expenditure of earlier year against income of future assessment year
Gift made by assessee-company to other corporate entities where AO alleged existence of family settlement and taxed market value of shares gifted as business income
Department cannot seize Trucks in S129 for the allegation of past Wrong movement of goods done by transporter.
Finance Bill’2021- Paradigm shift in the provisions relating to Income Tax Search and Seizure Assessments and Income Tax Settlement Commission