Where unaccounted sales were established through seized material, only the net profit embedded therein was liable to tax, and not the entire sales turnover. When the seized evidence itself reflected corresponding business expenditure, the Revenue could not disregard such expenses while relying on the same material.
SC held that registration alone does not validate a Will. The propounder must dispel suspicious circumstances, and HC cannot upset concurrent factual findings under Section 100 CPC.
ITAT Bangalore remands 8% income estimation under Section 44AD based solely on bank deposits, directing fresh assessment on proper evidence.
ITAT Bangalore held that additions made in an intimation under Section 143(1) cannot be disputed in an appeal against a scrutiny assessment under Section 143(3) if those issues were not examined during scrutiny.
Interest on delayed payment of the FM radio migration fee was a compensatory business expenditure deductible under Section 37(1); no disallowance under Section 14A could be made in the absence of exempt income; CSR contributions made to an approved institution remained eligible for deduction under Section 80G notwithstanding the disallowance under Section 37(1)
Supreme Court held Haryana’s 2002 remission policy under Article 161 survives the 2008 statutory policy, declared the contrary ruling per incuriam.
Supreme Court rejected a specific performance suit under Order VII Rule 11(d), holding it barred by Article 54 of the Limitation Act and an abuse of process.
The article explains why Section 13(3)(b) is a narrow exception to Section 13(2), requiring identification of the statutory recipient before applying the performance-based place of supply rule.
Learn how the Rs. 75,000 standard deduction and Section 87A rebate reduce tax liability to nil for eligible salaried taxpayers under the New Tax Regime.
ITAT Pune held that BSNL VRS-2019 compensation qualifies as retrenchment compensation under Section 10(10B), allowing tax exemption and consequential refund.
