S.28(i): Business income- Income from house property – Shipping agency and warehousing – Activities of the assessee involve more than letting therefore assessable as income from business and not as income from house property-New tangible material hence reassessment is bad in law [ S. 22, 147, 148 ]
S. 23 : Income from house property – Annual value – Interest free refundable deposit from tenants- Addition cannot be made in respect of notional interest on refundable deposits. [ S.23(1)(b) ]
S.24: Income from house property- Leasing -Interest paid on borrowed loan which was utilised for acquiring property is held to be allowable deduction [ S.24(b) ]
S.22: Income from house property -Property leasing – Contributions received from tenants towards sinking fund cannot be assessed as rental income.
S. 12AA : Procedure for registration –Trust or institution-Private University, engaged in imparting education, is eligible for registration . [S.2(15) ]
S.4: Income chargeable to tax – Hindu undivided family (HUF) -Father died intestate – Property inherited as per S.8 of the Hindu Succession Act is assessable in his individual capacity and not as Karta of HUF [ Hindu Succession Act 1956, S.8 ]
S. 12AA : Procedure for registration –Trust or institution-Registration cannot be denied only on the ground that the Trust was formed by company for complying corporate social responsibility requirement [ S.11, 80G ]
S.37(1): Business expenditure – Entry tax – e-challan containing all relevant details including name of assessee, impugned disallowance was to be deleted, matter was set aside for verification.
S.37(1): Business expenditure –Damages -Expenses on repair of goods returned back on account of low quality was held to be allowable as business expenditure.
S.40(a)(ia):Amounts not deductible – Deduction at source –Handling charges paid to shipping agents of non-resident shipping companies was held to be not liable to deduct tax at source, and also the department had already granted exemption certificate to non-resident ship owners . [ S.194C ]