S. 45 : Capital gains –Investment in foreign exchange – Deduction of tax at source- Principally- Taxation of business profits was expressly dealt with by article, those business profits could not be taxed in source jurisdiction for want of satisfying fundamental condition precedent for its taxability, i.e., existence of a PE in source jurisdiction – DTAA-India -Spain [ S.56 , Art . 7, 14(1) (14(5) ,23 (3) ]
Securities Transaction Tax (STT) Finance (No. 2) Act, 2004
S. 105 :Penalty for failure to collect or pay securities transaction tax – Penalty not to be imposed inn certain cases – No penalty shall be imposed on assessee for having failed to collect Securities Transaction Tax (STT) or having collected, failed to pay such STT to credit of Central Government without providing it a reasonable opportunity to prove that there was reasonable cause for such failure [ S.108 ]
Securities Transaction Tax (STT) Finance (No. 2) Act, 2004
S. 105 :Penalty for failure to collect or pay securities transaction tax – Penalty not to be imposed inn certain cases – No penalty shall be imposed on assessee for having failed to collect Securities Transaction Tax (STT) or having collected, failed to pay such STT to credit of Central Government without providing it a reasonable opportunity to prove that there was reasonable cause for such failure [ S.108 ]
Benami Property Transactions Act, 1988
S. 26 :Adjudication of benami property – Appeal – Show cause notice – Not an order appeal is not maintainable [ S. 26 (1), 46 Art , 226 ]
S. 268A : Appeal-Monitory tax effect less than of Rs. 1 crore-Appeal dismissed. [S. 260A]
S. 264 : Commissioner-Revision of other orders-Capital gains-Sale of agricultural land-Order set aside-Matter remanded to the Assessing Officer [S. 45, 54B, Art. 226]
S. 254(1) : Appellate Tribunal-Powers-Remand-Fresh claim Wholesale remand for framing a fresh assessment,-Assessing Officer could not deny to evaluate fresh claim raised by assessee during remand assessment proceedings. [S. 144]
S. 194C : Deduction at source-Contractors-Payment to cable operators for channel fee-Liable to deduct tax at source under section 194C and not under section 194C of the Act. [S. 194J]
S. 192 : Deduction at source-Salary-Failure to deposit tax deducted at source-Rectification application-Directed the Assessing Officer to consider the rectification application and pass orders on merits in accordance with law. [S. 143(3), 154, 199, Art. 226]
S. 148 : Reassessment-Objections raised and the Assessing Officer has to pass reasoned order-Challenge of notice is held to be not valid. [S. 147, Art. 226]