No religion like “Hinduism” & worship of Hindu Gods is not “religious purpose” – Trust is eligible for 80G: Nagpur ITAT
No penalty for cash loan as it was never the intention of the Legislature to punish a party involved in a genuine transaction: Bangalore ITAT
Failure to attach board report along with financial statement in annual filing is compoundable offence
Section 50C is a deeming provision. Assessee is entitled to challenge the correctness of the DVO’s valuation before the CIT(A) and the Tribunal.
GST: contention of assessee that he was not doing any business in respect of sale or purchase of the goods and is only providing vehicles for transporting is to be rejected
Loan is taken for acquiring capital asset, waiver thereof would not amount to any income eligible to tax u/s 41(1).
Interesting Case: Repairs & Maintenance Expenses paid by tenant can be added to rental income of owner?