S. 2(22)(e):Deemed dividend – Deposit for purchase of premises – Addition cannot be made as deemed dividend – No question of law .[ S.260A]
S. 2(22)(e):Deemed dividend – Deposit for purchase of premises – Addition cannot be made as deemed dividend – No question of law .[ S.260A]
S. 2(22)(e) : Deemed dividend—Share application money received by companies from other companies—Additions cannot be made as deemed dividend.
Direct Tax Vivad Se Vishwas Act , 2020
S. 4: Filing of declaration and particulars to be furnished – Disputed tax – Pendency of Appeal before High Court – Permission to withdraw the appeal was granted –Given liberty to restore the appeal in the event the ultimate decision is taken on the declaration is against the assessee. [ S.260A ]
Advocates Act , 1961
S: 34 : Power of High Courts to make rules- Punishment of Advocates for misconduct – Independent Bar and Independent Bench form the backbone of the democracy – The Legal profession cannot be equated with any other traditional professions -It is not commercial in nature and is noble one considering the nature of duties to be performed and its impact on society – The role of a lawyer is indispensable in the system of delivery of justice – He is bound by the professional ethics and to maintain the high standard . [ S. 9, 33, 34 ,35, 37 , Constitution of India , Art , 32, 226, Madras High Court Rules , 1970 Rules, 14A, 14B, 14C , 14D ]
Railways Act , 1989
S. 20D: Hearing of objections -Opportunity of being heard – Substantive right – Natural Justice -Audi Alteram Partem – Not mere formality – Until the order is communicated to the person affected by it , it cannot be regarded as anything more than being provisional in character [ Constitution of India , Art, 14, 19 , 300A Land Acquisition Act , 1894, S. 5A ]
S. 244A : Refund – Interest on refunds – Un paid amount of tax the assessee entitle to interest this would not amount to granting interest on interest . [ S.244A(1) (b) ]
S. 80JJAA : Employment of new workmen – Exemption cannot be denied when the employees fulfilled the condition of being employed for 300 days for the year under consideration , even though such employees do not fulfil the condition of being employed for 300 days in the immediately preceding assessment year .
S. 50 : Capital gains – Depreciable assets – Block of assets – Expenditure incurred on account of stamp duty , registration charges and society transfer fee , as per contractual terms is an allowable expenditure [ S.45, 50(1)(i) ]
S. 44AD :Presumptive taxation- Once business income is offered on the presumption taxation , separate addition cannot be made as cash credits [ S.68 ]
S. 44AD :Presumptive taxation- Presumptive taxation is not applicable to interest and remuneration received by a partnership firm [ S.28(v), 40(b) ]