Business disallowance under section 40(a)(ia): There is nothing to disallow when there is shortfall in deduction of TDS.
Society accepting deposits only from members can’t be held to be engaged in ‘banking business’; No exemption u/s 194A
Mere participation in proceedings or acquiescence would not confer jurisdiction upon AO who otherwise was not the AO of Assessee
Expenditure on renovation of building taken on lease is a capital expenditure or revenue expenditure ?
Disallowance of expenses paid to relativeu/s 40A(2) : It is for the AO to make-out a case that the expenditure incurred is excessive or unreasonable having regard to the fair market value of such services.
Clarifications/circulars issued by the Central Government and of the State Government by their understanding of the statutory provisions are not binding upon the court
Clarification on Requirement of tax deduction at source in case of corporations whose income is exempted under Section 10(26BBB) of the Income-tax Act, 1961 Exemption thereof.