CIT(A) can not refuse to adjudicate the additional grounds raised by the assessee if directed by ITAT
Addition is justified u/s 68 as shares issued at huge premium were subscribed by persons having nominal income
Premium paid on acquisition of securities can be amortized if they are acquired at a rate higher than the face value
Interesting Judgement: Period of holding commences from the date of agreement to purchase and date of possession is irrelevant .
Forget sale deed. Compute capital gain from the date of agreement- Interesting case in favor of taxpayer
Assessment framed by AO u/s 143(3) against a non-existent entity despite being informed about merger of assessee company with its holding company is liable to be quashed
Rectification petition filed beyond the time limit set out in s. 254(2) is liable to be dismissed being time barred.
Assumption of revisional jurisdiction by CIT u/s 263 without pointing out exact error committed by AO and directed AO to make detailed and roving enquires is unsustainable in law.