Note: 

Allahabad High Court - Apply for extension the time to file the return-binding nature of CBDT circular If you failed to get your accounts audited or furnish audit report before prescribed time limit - to avoid penalty - apply for extension the time to file the return - binding nature of CBDT circular.

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1.           CIT Vs Balbir Singh Mohinder Singh- High Court of P & H- Section 69- 158 BC- The Hon’ble high Court has affirmed the follwing principle of law applied by the ITAT.

        “The assessee's income is to be assessed by the assessing officer on the basis of material which is required to be considered for the purpose of assessment and ordinarily not on the basis of the statement of third party unless and until there is a material to corroborate that statement”.

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2.      CIT Vs Central Mall- P& H- Rule 46A of the I.Tax Rules- It has been held that the provisions of rule 46A are not applicable to those cases where the assessee files affidavit in support of his contentions raised before the AO during the course of proceedings.

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3.           CIT Vs Pritam Singh Chail- P& H High Court- Section 54F- It has been held that a property which is held in the capacity of an individual can not be attributed towards the property of HUF on the ground that the same was shown in the Wealth Tax Return of the HUF. It is relevant to mention here that the ITAT and the CIT(A) has categorically observed that the property was shown in the wealth return under misconception of law and facts.