S. 260A : Appeal-High Court–Delay of 507 days-Part time employee –Ex employee not filed the affidavit–Delay was not condoned.
S. 260A : Appeal-High Court–Delay of 507 days-Part time employee –Ex employee not filed the affidavit–Delay was not condoned.
S. 245C : Settlement Commission-Procedure-Opportunity of hearing- Commissioner (DR) could not be given an opportunity of hearing at time of consideration of application for settlement at the stage of admission. [S. 245D(1), 245D (2C)]
S. 244A : Refund–Interest on refunds–There was no reason attributable to assessee which delayed its refund claim-Interest on refund was payable from beginning of relevant assessment year.
S. 239 : Refund–Limitation–Due to inadvertent mistake of Chartered Accountant claim refund of TDS was not made with in limitation period- Delay was condoned–AO is directed to verify the claim and grant refund.[S. 119(2)(b)]
S. 234B : Interest-Advance tax-Sub-section (2A) to section 234B introduced by the Finance Act, 2015 is not retrospective and would be applicable to all proceedings in which orders are pending and/or in which orders under section 245D(4) are passed on or after 1-6-2015. [S. 234B(2A), 245D(4)]
S. 153 : Assessment–Reassessment–Limitation–Revision- Revisionary powers could be exercised by Commissioner in all cases where assessment was made and once he exercised his revisionary powers then provisions of section 153(2A) would be applicable and, limitation would be one year from date of order being passed by Commissioner in revision petition. [S. 153(2A), 153B, 153C, 263]
S. 147 : Reassessment–Business expenditure–Capital or revenue- Advertisement and sales promotion- Complete disclosure of all primary material facts on part of assessee in course of assessment- Reassessment proceedings merely on basis of change of opinion was not justified [ S.37(1) , 148]
S. 132 : Search and seizure –Warrant of authorization- Siphoning off funds by way of advancing loans to shell companies without any equivalent collateral securities-Warrant of authorisation was held to be valid. [S. 133A(3)]
S. 92C : Transfer pricing-Arm’s length price-Comparable–Merger and Amalgamation had taken place in a company–Cannot be selected for comparable–Securities and stock broker cannot be compared with merchant banker–Interest earned on margin money deposited with AE for broking services for futures and options should be factored in to determine ALP.
S. 80IA : Industrial undertakings–Infrastructure development- Captive power-Valuation of electricity provided to another unit should be at rate at which electricity distribution companies were allowed to supply electricity to consumers.