S. 12A : Registration–Trust or institution-Grant of benefit of S.11, 12 for the AY. 2011-12-Application for registration was submitted in AY. 2015-16–Proviso had to be read along with main proviso and not in isolation and contradiction-Registration can be given from the following financial year in which the application for registration is made and subsequent years. [S. 11, 12(2), 12AA]
S. 25 : Commissioner-Revision of other orders–Condonation of delay – Beyond six years-CBDT circular prescribing time limit for condonation-Not binding on High Court-Delay condoned and directed the Commissioner to decide on merit. [S. 2(ia)(i)(4), 25(1)( c ) (ii), I.T. Act, S. 264 Art. 226]
S. 276 : Offences and prosecutions–Deposit of self assessment tax belatedly–No inference can be drawn that there was wilful attempt to evade on part of assessee to evade payment of tax-Prosecution was quashed. [S. 132, 140A, 276CC]
S. 271D : Penalty–Takes or accepts any loan or deposit–Burden is on assessee to prove reasonable cause–Burden is not discharged-Levy of penalty is held to be justified. [S. 269SS, 273B]
S. 271(1)(c) : Penalty–Concealment–Survey-Amount disclosed in the survey was included in return-Return was accepted–Levy of penalty is held to be not valid. [S. 133A]
S. 269UD : Purchase by Central Government of immoveable properties–Auction process is conducted bona fide and in public interest-Appellant given several opportunities to bid in fresh auction conducted but not doing so-Sale Confirmed in favour of fresh buyer-No arbitrariness.
S. 268A : Appeal–Monetary limit-Appeal dismissed as withdrawn [S. 260A]
S. 264 : Commissioner-Revision of other orders–Rejection revised return and rectification application-Delay in filing revision application-Directed to condone the delay-CIT is directed to decide on merit. [S. 139(5), 143(1), 154, Art. 264]
S. 264 : Commissioner-Revision of other orders–husband’s ill health-Transactions in immoveable properties–Unexplained money-Matter remanded for readjudication. [S. 69A, 143(3), Art. 226]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Loan-Unclaimed money–Detailed enquiries were made in the assessment proceedings-Revision is held to be not valid. [S. 68, 143(3)]