Dispute Resolution Scheme, 2016

S.201(1)((h): Tax arrear- penalty levied for contravention of S. 269SS and 269T is eligible to claim the benefit of the Scheme . [ S.202(b), 269SS, 271D, 271E ]

S. 281B : Provisional attachment -Reasonable apprehension that Assessee may default as the transactions discovered to be bogus and net worth of assessee declining accordingly the provisional attachment is held to be Justified [ S.147 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Land converted in to stock in trade -Leased property – Computation of capital gains without considering nature of right of assessee over land , accordingly the revision was held to be valid as the AO has not examined the matter in the correct perspective . [ S.45( 2) ]

S. 245N : Advance ruling – Transaction includes also proposed transaction -Maintainability of application cannot be raised at the time of hearing of application – Duty of the Authority to look in to all aspects of questions posed for its consideration , proceedings on the presumption that one part of agreement has no bearing on other is held to be not tenable [S. 245S(1), 245R ]

S.148: Reassessment – Notice -Concurrent jurisdiction of Assessing Officer Area -Delay and laches on part of assessee in responding notices lost his right to question jurisdiction of Assessing Officer [ S.120(1), 124(3) , 147 ]

S.147: Reassessment-After the expiry of four years-Transaction disclosed in original assessment proceedings discovered to be bogus, reassessment is held to be valid [ S.148 ]

S. 127 : Power to transfer cases -Transfer of pending proceedings on request by assessee, provisions cannot be invoked . [ S. 120, 124]

S. 80IB(10) : Housing projects- Date of commencement – Merely securing approval of Local Authority is not step towards development, actual date of construction is relevant . Project completed in year 2001 therefore balconies to be excluded [ S.80IB(10)(c ).

S.40(a)(ia):Amounts not deductible – Deduction at source – No contract between assessee and parties of hired Vehicles on freight basis for transportation on behalf of principal — Not liable to deduct tax at source [S.194C ]

S. 37(1) : Business expenditure – Accrued or contingent Liability — Enhanced Licence fee payable to Railways is held to be allowable as deduction .[ S.36 , 145 ]