S. 144C : Reference to dispute resolution panel -Draft assessment order — Limitation for filing objections – Draft assessment order served through Electronic mode on an earlier date but assessee opting for manual proceedings — Limitation to be calculated from date of receipt of draft assessment order manually. [ S.144C(2) Art , 226 ]
S.143(3): Assessment – Stock Exchange — Duty only to ensure tax collected, Determined In Accordance with Act and Rules – Stock Exchange Cannot Collect Securities Transaction Tax Beyond Client Code — Addition to income of Stock Exchange on the ground that higher Securities Transaction Tax ought to have been collected — Held to be not Justified .[ Securities Transaction Tax Act, 2004. ]
S.143(3) : Assessment- Survey- Telescoping and reducing the addition – Income from undisclosed sources — Additions deleted by Tribunal on facts — No substantial question of law .[ S. 133A, 260A, 292C ]
S. 143(2) : Assessment – Notice – Refund – Issue of notice does not prevent Assessing Officer from processing return — Assessing Officer must apply his mind and decide whether refund can be given. [ S.241A ]
S. 133 : Power to call for information – Survey – Notifications Dt. 19-8-2011 and 1-11-2011 -ITO (Intelligence) has power to issue notices to Co-Operative Banks [ S.120, 133(6) ]
S. 133 : Power to call for information – Survey – Notifications Dt. 19-8-2011 and 1-11-2011 -ITO (Intelligence) has power to issue notices to Co-Operative Banks [ S.120, 133(6) ]
S. 127 : Power to transfer cases – Order of transfer not challenged till Issuance of notice- Delay not explained — Opportunity given to file objections not utilised – Transfer of case for centralisation of cases to facilitate investigation — Order need not be interfered with. [ S.127(2) 132 , 153A ]
S. 115JB : Book profit – Brought forward loss or unabsorbed Depreciation —Non-consideration of claim for deduction- Matter Remanded Tribunal [ S.10A ]
S. 115JB : Book profit – Prior period expenditure not deductible — Assessing Officer has limited power to make changes — Deletion of addition was held to be not justified . [ S.115J ]
S.92C : Transfer pricing —Safe harbour — Exercise of option — Assessing Officer not passing order and declaring that exercising of option was invalid — Option exercised by assessee to be treated as Valid [ S.92CA , 92CB Art, 226 ]