Before CIT (A) held that addition can be made in cases where the consideration received against issue of shares exceed the FMV of such shares. AO must compute the value as per Rule 11UA and thereafter ...

Karnataka High Court held that proceedings initiated against deceased person are null and void and the same cannot be continued against his/her legal representative. Accordingly, order of Single Judge ...

ITAT Mumbai held that addition towards bogus purchases unwarranted as GP rate on sale of alleged bogus purchases is more than the GP rate of other purchases. Accordingly, appeal allowed the addition ...

Kerala High Court held that revisionary proceedings by PCIT u/s. 263 rightly exercised since claim of provision for bad and doubtful debts was assumed by assessing officer to be correct without ...

ITAT Agra held that addition towards interest paid on CC is liable to be deleted since interest free advance given to potato growers (farmers) were out of the business expediency. Accordingly, ...

ITAT Kolkata held that expenditure towards sales promotion expenses allowed as deduction under section 37 (1) of the Income Tax Act since bills along with other evidences related to the same is duly ...

ITAT Kolkata held that condonation of delay in filing of an appeal is liable to be allowed as sufficient cause shown.

16. Where on consideration of material on record, one view is conclusively taken by the Assessing Officer, it is not open to ...

Subsequently, the Commissioner of Income Tax (CIT) invoked Section 263 of the Income Tax Act, citing that the AO had not adequately examined the compensation received by the assessee for land at ...

1. The triplex flat is only one residential house connected internally as per approved plans. The first level being unit no.2103 consists of Living room, Kitchen and Dining Please note there are no ...

2. The CIT (A) erred in not adjudicating the action of the AO in making the disallowance of Rs. 40,24,09,376/- being depreciation claimed on goodwill under section 32 of the Income Tax Act, 1961 (Act) ...

The primary issue revolved around the non-fulfillment of conditions under Section 54F, which requires the construction of a ...