The assessee, a public school, had been charging concessional fees from the children of the employees studying in the school at the rate of 50 per cent in respect of the standard/normal tuition fees, ancillary fees and computer fees and at the rate o
Penalty for concealment of income. Evidecne led by the assessee not malafide or false. Tribunal concurred with the finding of the lower authorities. on Appeal, order of the Tribunal upheld.
Whether assessee was liable to pay interest u/s 234B for non-payment of tax on exempted income which later on became taxable due to a supreme court judgement.
S. 133A - Additions can be made on basis of materials collected during course of illegal survey.
S. 263 - Revision - Exercise of power under S. 263 by CIT would not be justified only because Assessing Officer has taken a view in favour of assessee. -
The assessee-company had borrowed foreign currency loan from IDBI which in turn was refinanced by the foreign company. It paid commitment charges and finance charges to the said foreign company. The questions that arose for consideration were as to (
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