S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Subscription revenue from Indian customers for providing access to online chemistry databases and from sale of online journals-Not assessable as royalty-DTAA-India-USA [S. 9(1)(vii), 147, 148, Art. 12(3)]
S. 9(1)(iv) : Income deemed to accrue or arise in India – Dividend by Indian company -Domestic company paying dividend distribution tax, only then, domestic company can claim benefit of DTAA, if any- Claim for first time before DRP – Claim cannot be rejected – DTAA -India – UK. [S.115O, 144C, Art. 11]
S. 2(14)(iii) : Capital asset-Agricultural land- Distance between municipal limit and agricultural land was to be measured having regard to shortest road distance and not aerial distance- Agricultural land was situated beyond 8 kilometers of municipal limit- Not capital asset eligible for exemption- land sold was not a capital asset under section 2(14), provisions of section 50C would not apply.[S.2(14)(iiib) 45, 50C]
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice- Faceless regime – Jurisdiction of JAO – Notice after three years-Sanction of Specified Authority-Approval to be obtained from Principal Chief Commissioner-Approval from Principal Commissioner-Sanction is invalid-Order and consequent notice is invalid S. 148 – SLP of revenue was dismissed for failure to explain the delay and also on merits . [S. 147, 148A(b) 148A(d) 151(i), 151(ii) 151A, Art. 136 ]
S. 147 : Reassessment – Validity of notices issued under old regime after 01.04.2021 – Limitation and sanction under new regime- Considering the surviving time available – limitation under S.149 had expired or sanction under S.151 of appropriate authority was lacking, the reassessment notices were invalid. [S. 148, 148A, 149, 151, Art. 226 ]
S. 68 : Cash credits – Penny Stock – Loss – Bogus claim of loss on trading of shares – Principles of natural justice – Tribunal erred in relying on coordinate bench decision without examining facts – Organized tax evasion -Exception to CBDT Circular No. 5 of 2024 dt .15 -3 -2024, para 3.1 (h) (2024) 462 ITR 273 (St), applies- Monitory limits is not applicable – Order of the Tribunal was set aside – Substantial question of law was answered in favour of revenue . [S. 143(2), 142(1), 143(3), 254(1) 260A, 268A ]
Prohibition of Benami Property Transactions Act, 1988
S. 2(8): Benami property-Provisions of 1988 Act (Ss. 3 & 5) prior to 2016 amendment unconstitutional-SLP not maintainable-Review dismissed.[S. 3, 5, Art. 136]
Direct Tax Vivad Se Vishwas Act, 2020.
S. 2(j): Disputed tax-Only 50% payable where appeal is decided in Revenue’s favour-Higher demand illegal-Fresh Form-3 was directed to be issued. [S. 3(1), Art. 226]
S. 264 :Commissioner-Revision of other orders-Valuation of property-Income from other sources-Stamp valuation-Authorised representative wrongly admitted the addition-No objection was raised before the Assessing Officer prior to the assessment order being passed-Assessee entitled to raise objections before revisional authority or before the CIT(A)-Commissioner’s rejection set aside. [S. 50C(2), 56(2)(vii)(b)(ii), 246A, Art. 226]
S. 260A : Appeal-Additional evidence-Communications exchanged between assessee and Revenue-Admissible as evidence in appeal proceedings. [CPC, 1908, O. XLI, r. 27; Art. 226]