Held: In the instant case, the disallowance of interest expenses was made by AO by taking view that assessee had shown unsecured loan of Rs. 16,36,297/- and had also given loan and advances of Rs. 11, ...

1. The Learned CIT (A) NFAC erred in law and on facts in confirming addition of 1,45,05,261/- made by the learned ITO (Ward 5.3.5 Ahmedabad) as unexplained money u/s. 69A. The Addition confirmed by ...

Madras High Court held that provision for leave salary is not allowable as deduction under section 43B (f) of the Income Tax Act since deduction of actual payment is allowable and not of provision.

ITAT Ahmedabad held that invocation of Revision proceedings under section 263 of the Income Tax Act after approval of the Resolution Plan by NCLT is against the Provisions of Law. Accordingly, ...

ITAT Chennai Held that the construction of a new residential house to its existing residence with separate stair-case, kitchen, new electrical connection, water connection, etc. qualifies for ...

Both parties presented their arguments, with the assessee contending that the cash deposits were sourced from its textile trading business, specifically from sales outside the books of accounts. The ...

Mohanty Enterprises case, which allowed the revocation of cancellation for entities willing to comply with tax obligations.

5. It was further submitted that the petitioner is ready and willing to pay 10% of the disputed tax and that he may be ...

The term ‘Banking Business Hours’ are the minimum number of hours that IBU shall provide services from its premises in IFSC.

The assessee on show cause resisted the proceedings by filing a response. According to the assessee there was no intent to ...

The appellant argued that although they had initially waived the claim of Rs. 1,57,818/-, they later found documents that ...

The sine qua non for acquiring jurisdiction to reopen an assessment is that notice under section 148 should be issued to a correct person and not to a dead person. Consequently, the jurisdictional ...