S. 139A : Permanent account number–Petitioner would not be in default in any proceedings only for the reason that the permanent account number is not linked with Aadhaar or Aadhaar number is not quoted; and that pending the petition, the petitioner may not be subjected to the proviso to sub-section (2) of section 139AA of the Act. [S. 39AA(2), Art. 226]
S. 132 : Search and seizure–Reason to believe-Recording of satisfaction-Jewellery-Stock in trade-No cogent basis for arriving at conclusion that assessee was in possession of jewellery which represented his undisclosed income or property was discernible from satisfaction note, impugned search and seizure was to be quashed and all actions taken pursuant to such search and seizure were to be declared illegal-The respondents were ordered to pay costs quantified at Rs. 50,000. . [S. 132B, Art. 226]
S. 119 : Central Board of Direct Taxes-Return-Condonation of delay-Genuine hardship–Should be construed liberally-Order being cryptic-Delay is condoned. [S.119 (2)(b), 139. Art. 226, 227]
S. 115JB : Book profit-Banking company–Provision is not applicable to banking company. [S. 115JB(2), Companies Act, 1956, S 211(1)]
S. 115JA : Book profit–Banking company–Provision is not applicable.
S. 92CA : Reference to transfer pricing officer–Clause(i) of Section 92BA of the Act had been omitted by Finance Act, 2017 w.e.f. 01.04.2017 and as such it came to be held that proceedings would lapse. [S. 92BA)]
S. 92C : Transfer pricing–Arm’s length price–Granting adjustment of 10% on account of quality difference and deleting the addition made by TPO/AO by applying CUP to arrive at ALP in respect of Bisoprolol-Held to be valid. [S. 10B(1)(a)(ii), 260A]
S. 80IC : Special category States–Profit of undertaking is eligible for deduction–Disallowance of purchase is held to be not valid. [S.80A(5)]
Constitution of India
362 : Corona Virus Lockdown Crisis – Extension of interim orders – Expiring before 30 -04 -2020 – Shall continue to operate till then – Interim orders which are not granted for limited duration are to operate till further orders shall remain unaffected by this order .[ Art . 226, 227 ]
S. 80IA : Industrial undertakings–Back ward area-Not located in the industrial backward district which has been mentioned in the notification issued by the Central Govt-Not entitle to deduction. [S. 80HH(2), 80IA(2)(iv)(c)]