Prohibition of Benami Property Transactions Act, 1988
S. 2(9): Benami transactions – Transactions or arrangements – Failure to produce documents to prove income – Property purchased in the name of wife – Sale agreement is valid .[ S. 2(9)(A)(b)(iii) ]
Income Declaration Scheme of 2016,
S. 195 : Power to remove difficulties-Not depositing the first instalment with in time-Board refusing to condonation of delay-Concession and excess indulgence would have demotivating effect on honest taxpayers making regular and prompt tax deposit-Dismissal of application is held to be not justified. [S. 184, ITA, S. 119,(2),(Art.14]
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
S.10(1): Assessment – No summons are pending – Permitted to travel to UAE and Thailand, with a direction that he shall return to India on or before 6-4-2022, subject to furnishing of security as specified and subject to furnishing a full itinerary of his stay at UAE and Thailand, along with a functional phone number [ Art , 226 ]
S. 32: Depreciation –Good will- Order of Tribunal – Binding precedent – Decision of Tribunal is binding unless there is stay [ 144C , 254(1) , Art , 226 ]
S. 144C : Reference to dispute resolution panel – Draft assessment order — Depreciation – Binding precedent – Decision of Supreme Court binding on all Courts and all authorities- Appellate Tribunal – Decision of Tribunal is binding on all authorities [ S. 32, 144C ,(8), 254(1) , Art , 226 ]
Interpretation-Binding precedent-Decision of Supreme Court binding on all Courts and all authorities-Appellate Tribunal-Decision of Tribunal is binding on all authorities. [S. 144C, 254(1), Art. 226]
Interpretation of taxing statutes–Literal construction-Exemption provisions-Assessee Must Strictly Comply With Conditions. [[S. 10B(5), 10B(8), 72, 80, 139(1), 139(3), 139(5)]
S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Commissioner-Wilful attempt to evade tax-Application for compounding of offences-Limitation-Show-cause notice issued for rejection of compounding of offences on ground of Bar of limitation relying on Circular issued by Central Board of Direct Taxes-Circular cannot override statutory provision-Authority to consider application in accordance with law. [S. 276C, 277, 278B, 279(2), Art. 226]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Issue not referred in the notice of revision-Order of revision on such issue-Not valid. [S. 40A(2)(b)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Disallowance of expenditure-Exempt income-Formula not applicable to AY. 2002-03-Revision is held to be not valid. [S. 14A,R. 8D]