Respected sir,
In the assessment proceedings u/s 143(3) of the IT Act the AO has added about Rs. 30,00,000/- on the ground that some of the cash creditors were not doing transactions in their bank account since a long time. Beside this some of them opened their bank account before two or three days ago from their transactions. Even they are income tax assessee and filing their ROI regularly. All the balances are properly shown in their balance sheets.
Is it justifiable that the AO is making addition on these ground. If you have some case laws favoring the assessee's case then please suggest. My mail address is subhneelmishra@yahoo.co.in

Thanks with regards
(Subhash Mishra)

Gud evening Sir,
Sir i have a small query regarding my examination. I'm going to give my exams on june but still i didnt get the call for ITT classes. Last date of submitting the examination forms is 20/03/09. Is there any option so that i can be eligible for my exams.As my frndz were telling that till April classes were full in the institute and i can take provisional option and can give my exams in june and can do my ITT classes after my examinations.
Is this true? Plz help me ........

I have scored 165 marks (PASS) in Group-1 of Pcc-Nov.-2008 Exam.
But in Group-2 marks are as under

costing-60
I.Tax -63
I.tech -28
Total -151

So, in which subject i have to appeare and how much to score in it?

If there is less than 30-marks in any subject of the group,than I have to surrender exemption?

In one group one can have 2 exemption?

I have scored 165 marks (PASS) in Group-1 of Pcc-Nov.-2008 Exam.
But in Group-2 marks are as under

costing-60
I.Tax -63
I.tech -28
Total -151

So, in which subject i have to appeare and how much to score in it?

If there is less than 30-marks in any subject of the group,than I have to surrender exemption?

In one group one can have 2 exemption?

Banks in India offering 8.5 to 9 % interest for fixed deposits.

Mutual funds are subject to market risk. Eventhough an average how much percentage
we will get as interest per year.

At present, which is the safe & best mutual fund scheme in India?

How we make accounting entry in accounts software for mutual fund interest receivable?

Banks in India offering 8.5 to 9 % interest for fixed deposits.

Mutual funds are subject to market risk. Eventhough an average how much percentage
we will get as interest per year.

At present, which is the safe & best mutual fund scheme in India?

How we make accounting entry in accounts software for mutual fund interest receivable?

Banks in India offering 8.5 to 9 % interest for fixed deposits.

Mutual funds are subject to market risk. Eventhough an average how much percentage
we will get as dividend per year.

At present, which is the safe & best mutual fund scheme in India ?

How we make entry in ERP software for dividend receivable ?

Banks in India offering 8.5 to 9 % interest for fixed deposits.

Mutual funds are subject to market risk. Eventhough an average how much percentage
we will get as dividend per year.

At present, which is the safe & best mutual fund scheme in India ?

How we make entry in ERP software for dividend receivable ?

Dear Friends, I have a practical issue. If I paid interest on Partners capital in FY 2005-2006, then is it necessary to pay it in 2006-07 also. Case is wrt exempted areas, and hence the AO objecting is that we are inflating profits and hence disallowing that much amount. I want to know the legal points involved in this matter.

What is the accounting for income tax refund amount ?