CIT vs Hansa Footwear
Valuation of closing stock-Conversion of firm into company-The assessee converted it's partnership business into a co. as per Companies Act. All the partners became shareholders with shares proportionate to th [LexDoc Id : 433412]
CIT vs Singamsetty Subba Rao
Payments made in cash-Absence of proof of unavoidable circumstances-Certain payments regarding business expenditure were made in cash in excess of limit u/s 40A(3). Unavoidable circumstances were not proved. The disall [LexDoc Id : 451686]
CIT vs O. Abdul Razak
Unexplained cash credit-Absence of proof-The assessee admitted receipt of Rs. 3 lakhs from an NRI as loan. No proof in support of loan was filed. The addition of Rs. 3 Lakhs was right.
[LexDoc Id : 436774]
Chief CIT and Anr. vs Sajan Verghis Mathew
Refund of tax paid by employer-Tax paid recovered from employees-The employer co. paid tax on perk value of stock-options with interest. The same was recovered from the assessee-employee by employer. The assessee wa [LexDoc Id : 431995]
