Purchase of the property which is an isolated transaction not related to the business of the appellant – Whether capital gain or business income?
Buying and selling activity in the lands characterized by a multiplicity of transactions – Income is taxable as business income and not capital gain income
Validity of reassessment on the basis of nformation emanated from Investigation Wing without aapplication of mind
Addition under section 68 towards Unexplained cash credits- whether require in the hands of the firm ?
Capital gains exemption if Assessee not been able to obtain possession and got purchase deed executed within 3 years
Admissibility of Condonation of delay in filing appeal before ITAT as Partner looking after income-tax matters was ill
Be careful : No deduction towards Interest, Remuneration etc in the hands of the Firm if such Firm does not respond to notices issued under section 142(1)
Notice u/s 143(2) issued prior to filing of ROI invalid, resulting in assessment order to be set aside