S. 40A(9): The provision is not meant to hit genuine expenditure by an employer for the welfare and the benefit of the employees
Whether deduction u/s 80P(2)(d) can be allowed on the amount of interest and dividend earned on the investment / deposits with the other cooperative societies ?
Unabated assessment could not be disturbed again under section 153A in the absence of incriminating material unearthed during search
Reckoning period of holding in case of purchase of the property where the tenancy right is converted into ownership
If the identity, creditworthiness and genuineness of the transaction was placed before the AO then the onus shifts to AO to disprove the materials placed before him
Tax Terrorism : Police probe against Income Tax Director in the suicide case of CCD Owner V.G.Siddhartha
Landmark Judgment by Gujarat HC order : Provision for Lapse of credit are invalid as issued without authority of law.
In absence of distribution of capital asset and in absence of transfer of capital asset in favour of retiring partners, no profit of gain arose in the hands of firm.
Assessment of non-existing Company is a ‘substantive illegality’ not a ‘procedural violation’: Supreme Court
Merely on basis of Shah Commission’s Report opining that there was under-invoicing of export price by iron-ore miners and exporters, reassessment could not be initiated
