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- IMPORTANT INCOME TAX CASE LAWS 01.12.25
- Commission receivable fully deductible u/s 80P; Interest on statutory reserves attributable to business
- No penalty for additional income in search cases absent incriminating material; Vague notices invalid
- Wife’s bank account attachment quashed; Legal heir liability limited to inherited estate value
- Recorded share losses cannot be treated as undisclosed income in block assessment absent incriminating material
- Section 12A registration denied for operating unapproved school and profiteering in violation of public policy
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