S. 32 : Depreciation-Set-off of unabsorbed depreciation against its current year income from house property and income from other sources. [S. 22,32 (2), 56]
S. 32 : Depreciation-Set-off of unabsorbed depreciation against its current year income from house property and income from other sources. [S. 22,32 (2), 56]
S. 28(i) : Business income-Charge of income-tax–Mutuality– Commercial concern–Principle of mutuality is not applicable-Income is chargeable as business income. [S. 4]
S. 28(i) : Business income-Letting out shopping mall/business centres by providing host of services/facilities/amenities– Income derived assessable as business income and not as income from house property. [S. 22]
S. 11 : Property held for charitable purposes-Educational institution-Income received from sale of property – Application for application of income was not made – Denial of exemption is held to be justified. [S. 11(2)]
S. 4 : Charge of income-tax–Diversion of income by overriding title-Obligation to spend on AMP arose after receipt of income–No obligation to spent definite amount–Application of income-Chargeable to tax. [S. 28(i)]
S. 4 : Charge of income-tax–Capital or revenue-Compensation for termination of lease-Loss of source of income–Capital receipt not to chargeable to tax. [S. 45]
S. 2(22)(e) : Deemed dividend-Trade advance-Commercial transaction-Not assessable as deemed dividend.
S. 183 : Declaration of income-Benamidar–Misrepresentation–No provision for granting an opportunity of hearing–Cancellation of declaration is held to be valid. [S. 193, PBPT Act. 1988, S. 24(4)]
S. 225 : Collection and recovery-Stay of proceedings–Pendency of a appellate and revision proceedings–Tax recovery officer demanded for 50% of tax demand-PCIT directed to pay 20 % of tax demand–On writ High Court directed to pay only 5% of tax in dispute. [S. 226, 264 Art. 226]
S. 225 : Collection and recovery-Stay of proceedings–ITAT has granted conditional stay against the recoveries–Sizeable amount was recovered–Contempt-Court directed not to recover further and pending the petition directed the petitioner to approach the ITAT for appropriate relief–Fresh petition was dismissed. [S. 226, 254(1), Art. 226]