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
If genuineness of the transaction is established, no disallowance can be done even if payment exceeds Rs. 10,000/- in cash?
By depositing Rs. 2, 00,000/- in NPS, whether entire amount can be claimed as deduction under Chapter VI-A
Merely for the reason that parties did not appear before AO or the assessee could not produce parties in person before AO, the whole set of documents produced to prove genuineness of transactions, could not be disregarded.
Income Tax Department clarifies on the suicide note by CCD Founder V.G.Siddhartha blaming attachment by income tax official for harrassmmet
