No addition u/s. 68 of the Income Tax Act, 1961, merely for trading in penny stock, when the assessee submits necessary details and the AO fails to bring anything contrary on record.
It is definitely most significant to note that in a major step that pertains directly to the Indian Army, the Karnataka High Court at Bengaluru in a most learned, laudable, landmark, logical and ...
Kerala High Court held that the limitation period for re-opening assessment under Section 25 (1) of the KVAT Act was six years. Notice issued on 12.02.2020 is well within the limitation period. Thus, ...
Madras Cricket Club, the Income Tax Appellate Tribunal (ITAT) in Chennai dismissed the Revenue’s appeal regarding the addition of Rs. 1.91 crore as entrance fees in the club’s income for the ...
The court acknowledged the petitioner’s claims, particularly her contention that no formal inquiry or notice had been issued to her regarding the property dispute before a recent endorsement. The ...