Held by the Hon`ble Court that, neither the assessee nor the Department proves anything about the loans therefore concealment was not proved and penalty u/s 271(1)(c) is not justified in law.
Held by the Hon`ble Court that, the principle of accrual comes in to play only when income is recognised, income from non-performing assets in consonance with notification issued by R.B.I. and A.S. 9 issued by the I.C.A.I. will be taxable in the appr
Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".
Held by the Hon`ble Court that, a perusal of the annual report and overview of the projects clearly shows that the projects were in consonance with the objectives sought to be achieved by the assessee, which were for the benefit of adolescent girls a
Held by the Hon`ble Court that, explanation 1 of section 32(1) does not apply in a case of construction on the land which is taken on lease by the assessee, assessee did not acquire a capital asset but had put up a construction of the building only f
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