S. 147 : Reassessment-After the expiry of four years-Unabsorbed depreciation–No failure to disclose material facts–Reassessment is held to be bad in law. [S. 32, 148, 149]
S. 147 : Reassessment-After the expiry of four years-Unabsorbed depreciation–No failure to disclose material facts–Reassessment is held to be bad in law. [S. 32, 148, 149]
S. 147 : Reassessment-After the expiry of four years-Housing projects–Completion certificate–No failure to disclose material facts–Reassessment notice is held to be bad in law. [S.80(IB)(10), 148, Art.226]
S. 143(3) : Assessment–Direction of appellate Tribunal-Decide the issue a fresh-AO cannot go beyond the direction-Writ of the assessee is allowed. [S. 44AD, 254(1), Art.226]
S. 142(2A) : Inquiry before assessment–Special audit–Opportunity of hearing was given–Writ to quash the special audit is dismissed. [S. 142(1)]
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)]