Conditions of section 147 can't be skipped when an assessment made under sec. 143(1) is sought to be

IT: Requirements of section 147 cannot be dispensed with when an assessment made under section 143(1) is sought to be reopened

No addition of whole exp. on birthday bash of grandson if invitation given by son and daughter-in la

IT: Interest on loan, which was taken subsequent to purchase of property, cannot be allowed as deduction under section 24(b)

Services used for transportation of employees in connection with business are eligible input service

Cenvat Credit : Services by way of hiring of vehicles to be used by employees: (a) for their movement within refinery premises or (b) for outward travelling in connection with business, is eligible for input service credit

Exclusive tie-up of super specialty hospital with a stem-cell bank isn't ant-competitive

Competition Act : Private super specialty hospital's exclusive tie-up with a stem-cell bank for collection of stem-cells from patients availing maternity services in the hospital and not allowing other stem cell banks to collect stem cells from its maternity services patients has no adverse effect on competition in the facts of the instant case

High value shown in stock statement sent to banks couldn't be held as unexplained investment

IT : Where revenue failed to establish that there was any difference in quantity of stock and Assessing Officer didn't make any enquiry in respect of explanation of assessee that stock belonging to another entity was included in stock statement submitted to bank, addition for unaccounted stock was liable to be deleted

Exp. incurred by ice-cream manufacturer on aborted project of manufacturing dairy products was busin

IT: Expenditure incurred by assessee, engaged in manufacturing of ice-creams, on aborted project of 'Mawa', which was covered by nature of assessee's declared business of dairy/milk products, and was under same management and control, was allowable deduction