Deduction towards interest expenses if interest free advances given to sister concern- case of Reliance Communications Infrastructure Ltd.
Deduction towards legal expenses and professional charges paid towards criminal offence committed in personal capacity & not in professional capacity- Salman Khan Case
Whether the failure to issue a notice under Section 143(2) of the Act in course of reassessment proceedings would vitiate the reassessment proceedings altogether?
Mere issue of notice under section 142(1) would not confer jurisdiction to levy interest under section 234A.
High Court should not take a technical approach and refuse to condone the delay when appeals for earlier years with identical issues are already pending before it: Supreme court
AO is precluded from making addition under section 68 doubting the creditworthiness of the investors on mere surmises
The fact that the vendors are not available at the given address is not sufficient to treat the purchases as bogus if the assessee has discharged primary onus .
