S. 153A : Assessment-Search-Cash credits-Share capital-Share premium-Original assessment was completed-No incriminating materials was found-Addition is held to be not valid. [S. 68, 132]
S. 153A : Assessment-Search-Cash credits-Share capital-Share premium-Original assessment was completed-No incriminating materials was found-Addition is held to be not valid. [S. 68, 132]
S. 147 : Reassessment-Liabilities taken over by Government of India-No failure to disclose material facts-Reassessment is held to be not justified. [S. 4, 37(1), 43B, 148]
S. 145A : Method of accounting-Valuation-Interest cost in valuation of inventory-No provision to include interest in cost of inventory.
S. 143(3) : Assessment-Non-Existing entity-Merger-Succession to business otherwise than on death-Order passed in non-existing entity is held to be invalid. [S. 170, 292B]
S. 115JB : Book profit-Disallowances made under section 14A could not be applied while computing book profit. [S. 14A, R. 8D]
S. 115JB : Book profit-No addition will be made in respect of disallowance under section 14A, read with rule 8D-Benefit of clause (i) of Explanation 1 to section 115JB (2) will not be available to assessee if book profit was not increased by amount of provision made in year of making provision for whatever reason. [S. 14A, R.8D]
S. 115JB : Book profit-Exempt income-Credited to the profit and loss account-Reduced while computing book profit [S.10]
S. 115JB : Book profit-Amalgamation-Revaluation reserve-Up word adjustment made by the AO was deleted-Loss incurred on account of redemption of mutual fund could not be added in business profit. [S. 94]
S. 115JB : Book profit-Net worth turned positive-Discharged by he Sick Industrial Companies (Special Provisions) Act, 1985-Liable to be assessed on book profit-Matter remanded to pass speaking order-COVID 19 pandemic lockdown period would be excluded in computing 90 days total time limit for pronouncing appellate order. [S. 255, SICAS. S. 17]
S. 115JB : Book profit-Net worth turned positive-Discharged by he Sick Industrial Companies (Special Provisions) Act, 1985-Liable to be assessed on book profit-Matter remanded to pass speaking order-COVID 19 pandemic lockdown period would be excluded in computing 90 days total time limit for pronouncing appellate order. [S.255, SICAS S. 17]