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Held by Ho"ble court that liability u/s 141 is attracted if the person accused was incharge of and responsible for conduct of the company at the time of the offence. Hence the above mentioned fact has to be established before applying section 141.
Any society merely because it has religious nature it can not be debarred from grant of registration under section 12A.
The income from undisclosed sources should be assessed separately in the hands of firm and partners.
To claim depreciation under section 32 mere possession and use the property for the purpose of business or profession is enough
The primary objective of the assessee is to be seen. If the main intention is to exploit the immovable property by way of commercial activities it must be held as business income.
Section 54 does not prohibit from purchasing property in a foreign country however all other conditions should be satisfied.
A.O can not be termed as erroneous simply on the basis of an opinion which is framed in the mind of the Commissioner that the conclusion is prejudicial to the interest of revenue unless there is adequate proof for that.
Notice u/s 158BC is a procedural act and any mistake in such notice can be rectified u/s 292B. Hence, Block assesseement proceedings cannot be held to be void merely due to the fact that block period was mentioned wrongly in the notice and that notic
neither reserve nor the surplus of the assessee is a part of the capital employed in the business of the company.
The discount given to the 'stamp vendors' is neither 'brokarage nor 'commission'. Hence TDS provisions are not applicable
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