Onus is on assessee to prove the source and nature of an amount received by him is not in the nature of income to avoid its addition

Addition under section 68 towards Cash gift is not sustainable if Assessee is not required to maintain any books of accounts

Funds of the educational institution can not to be utilized by trust for any other object/purpose

Interesting case : Validity of addition where genuineness of business itself is doubted by Income Tax Authorities

TPO could not assume jurisdiction to determine arm’s length price of a specified domestic transaction not reported to him

Tax Humour

Provision of sec. 43CA not applicable if builder entered into agreement to sell under-construction flats

Violation of provision of sec. 13 couldn’t be a ground to cancel registration of trust

Assessee can follow different systemsof accounting in respect of different sources of income

Cash Deposited during Demonetization: Practical aspects inIncome Tax Assessment

AO couldn’t reject sec. 12AA registration merely because assessee was claiming exemption u/s 10(23C)

Practicing professionals are prohibited from acting as full time directors

Loan accepted in cash – Assessee was engaged in construction business and started from scratch and did not have financial capacity to undertake huge projects – No penalty attracted

AO need to consider the reply submitted by Assessee related to cash deposit for Reassessment: Gujarat HC

HC reduced pre-deposit of tax amount from 20% to 10% on genuine grounds

Penny stock : Tax Effect limit for filing appeal by Revenue Removed

Assessing Officer has a legal obligation to implement the order of the ITAT strictly and such failure would result in the failure of justice: Karnataka HC

Death of a CA – Not a reasonable cause for dropping the penalty for delay in audit