Penalty for false entry covers not only false invoice but also any frivolous claim

Notice issued under section 148 in the name of deceased assessee was nullity in the eyes of law. Further, limitation for issuance of notice under section 148 had expired and beyond such limitation period, no notice could be issued in the name of legal heirs. Accordingly, proceedings initiated by issuance of notice in the name of deceased assessee and consequent reassessment proceedings were quashed for want of jurisdiction.

Slides are fastened to the Steel and Civil Structure are affixed to the Earth through these Steel and Civil Structures.

As assessee had not established on record that interest expenditure was directly incurred for earning interest income, no set-off could be allowed.

Where capital gain realized on sale of a land was invested by assessee in two distinctly identifiable residential properties at separate locations, such properties could not be termed as "a residential house" and hence, the AO was justified in restricting the assessee’s claim exemption under section 54F to investment in one residential property only.

As decided in the case of Mavilayi Service Co-operative Bank Ltd. V. CIT [[ITA No. 97/2016] : 2019 TaxPub(DT) 4909 (Ker-HC)] that AO had to conduct an inquiry into factual situation as to activities of assessee society to determine the eligibility of deduction under section 80P and should examine the activities of assessee and determine whether activities are in compliance with activities of a co-operative society, therefore, AO was directed to examine the activities of assessee-society before granting deduction under section 80P on interest income.

Where assessee did not prefer appeal against, order passed by CIT under section 263 then appeal against order giving effect to directions of CIT was not maintainable because the AO did what was instruct by CIT therefore, assessee cannot have any grievance over the action of AO in making disallowance of purchases by following directions of CIT under section 263.

Where the assessee placed FDRs as security for business purposes but did not offer interest on FDR as income then the AO was directed to arrive at correct head of income and tax accordingly the interest income.

Maintenance of a fixed place of business which is of a preparatory or auxiliary character in the trade or business of enterprise would not be considered to be permanent establishment in india.

Increase in bandwidth for real estate developers and home buyers covers only section 43CA and does not cover 50C: In the Press Release, dated 13-11-2020 the Central Government has increased the bandwidth to provide incentive to real estate sector.