If no cash is involved , section 68 of the Act treating as share capital/share premium as unexplained cash credit is wrong as transaction of allotment of shares by way of book adjustment and provisions of section 68 of the Act are not attracted.
Addition made on the basis of estimation cannot provide foundation for under-reported income for the purpose of imposition of penalty u/s 270A
An airline may pay commission inter alia on various items, apart from the basic fare, which are indicated clearly in the ticket issued to a traveller. The basic fare is clearly indicated, followed by various other charges in such ticket. Hence, in our view, when the basic fare is so specifically indicated, the authorities cannot add or delete anything to the same to say that the basic fare should also include those other things.
Petitioner is prevented from availing benefit of stay of recovery of balance amount of tax in terms of Section 112 (8) and (9) of B.G.S.T Act upon deposit of amounts as contemplated under Section 112(8).
Babulal Hajarimalji Jain Vs ITO (ITAT Mumbai) Undisputedly the entire addition in this case has been made by the AO as well as Ld. CIT(A) on the basis of guess work and estimation on the basis of some alleged information received from Sales Tax Department of Maharashtra and from DGIT (Inv.), Mumbai that “the assessee […]
What if you are not satisfied with the response of a bank on a complain made to it? You have the remedies for this. You can register complain to the Reserve Bank of India banking ombudsman.
Refund Sanctioned Vide Order-In-Appeal Cannot Be Ignored By Revenue Solely Because They Intend To Appeal In Tribunal. Delhi High Court Order To Process Refund With Interest.
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