Where both interest-free and interest bearing funds were available with assessee, it is to be presumed that investments were made out of interest-free fund: Bombay HC
“Stamp valuation on the date of registration cannot be applied as the provision of S.50C was not in the statute when the agreement to sell for property was entered: Allahabad ITAT .
Allowability of interest expenditure where builder included interest portion as its work in progress in books and claimed them as a deduction in income computation for tax payments.
Extension of Time Limit for processing of Income Tax Return u/s 143(1) for AY 2017-18 in refund & Non scrutiny cases.
TDS liability as a Third Party Administrator (TPA) in respect of various payments on behalf of the Principal
Reassessment : Legislature by using the word ‘reason to believe’ had cast a duty on AO to apply mind to the material on record with regard to escaped liability.
Assessing Officer is not bound by registration certificate issued by Registrar of Co-operative Society. AO has toconduct an inquiry into factual situation as to activities of assessee society to determine eligibility of deduction u/s 80P.
