S. 23 : Income from house property-Annual value–Standard rent -illegal tenant – Deposit of certain compensation on monthly basis in Court, could not form basis to make addition to assessee’s rental income in respect of other tenants who are protected under Rent control Act. [S. 22, Delhi Rent Control Act.]
S. 14A : Disallowance of expenditure-Exempt income-Sufficient interest free funds in excess of interest bearing fund to make investment-Deletion of disallowance is held to be justified. [R. 8D]
S. 12AA : Procedure for registration–Trust or institution-Objects relatable to education, medical aid and help to poor–Denial of registration is no valid. [S. 2(15)]
S. 10A : Free trade zone-Export turnover–Total turnover-while computing amount of deduction expenditure incurred in foreign currency that was deducted from export turnover, had to be deducted from total turnover.
S. 50 : Punishment for failure to furnish return of income- Where the assessee did not disclose its foreign assets in the course of search as well as in the settlement commission proceedings, he was liable to prosecution under the provisions of Black Money Act. [S. , 55, 71 , ITA, S.153A, ]
S. 18(1)(c): Penalty –Concealment -Difference of opinion between the assessee and the department with respect to the valuation of the property is not a ground for levy of penalty.
S. 2(ea) : Assets–Commercial establishments or complexes- Exception provided in S. 2(ea)(i)(5) covers all commercial establishments, whether they have one unit or more. [S.2(ea)(i)(5)]
S. 271AAA : Penalty – Search initiated on or after 1st June, 2007 – Manner of earning the undisclosed income to be given in the statement under 132(4) only if a question is asked to that effect- Deletion of penalty is held to be justified . [ S.132(4) ]
S. 263: Commissioner – Revision of orders prejudicial to revenue –
-Doctrine of merger- Where 80-IC deduction was originally denied by the AO on one ground which was subject matter of CIT(A) and the disallowance was deleted by CIT(A)-CIT could not invoke revision jurisdiction to deny the deduction on another ground. [S.80IC ]
S. 158BD : Block assessment – Undisclosed income of any other person – To hand over the seized material to the AO of the said person to proceed u/s. 158BC-No substantial question of law .. [S. 158BC, 260A]