Once the assessee was able to explain the source of deposits in the bank based on the cash book, which were admittedly not disputed and rejected by the AO, no addition on the basis of the bank deposit can be made

Writ Jurisdiction of Reassessment Notice under section 148–

Writ Jurisdiction of Reassessment Notice under section 148–

Validity of Disallowance of interest on the ground that rate of interest paid was higher that rate of interest received in own case

Validity of Disallowance of interest on the ground that rate of interest paid was higher that rate of interest received in own case

Qualification in Tax Audit Report : There is no express bar in law which disallows expenditure relating to a period other than the previous year.

Qualification in Tax Audit Report : There is no express bar in law which disallows expenditure relating to a period other than the previous year.

Procedure of Registration & Operation of Nidhi Companies

Procedure of Registration & Operation of Nidhi Companies

Qualification in Tax Audit Report : There is no express bar in law which disallows expenditure relating to a period other than the previous year.

Qualification in Tax Audit Report : There is no express bar in law which disallows expenditure relating to a period other than the previous year.

When sale consideration of immovable property is shown more than DLC, there is no justification for making any addition u/s 50C: Jaipur ITAT

When sale consideration of immovable property is shown more than DLC, there is no justification for making any addition u/s 50C: Jaipur ITAT

Co-owners of land doing joint activities: Whether Individual income or an Income of an AOP?

Co-owners of land doing joint activities: Whether Individual income or an Income of an AOP?

Penalty under section 271B for Failure to get books of account audited of Rs. 1.50 Cr

Penalty under section 271B for Failure to get books of account audited of Rs. 1.50 Cr

Section 50C vs. Section 54 Vs. Section 54F: An overview