S. 4 : Charge of income-tax -Power subsidy- Capital or revenue- Purpose test- Power subsidy which is available only to new units and units which have undergone an expansion , purpose being incentive as a capital subsidy has to be regarded as capital receipts .[ S.28(i) ]
S. 254(1) : Appellate Tribunal – Duties- It would always be ideal for the Tribunal to consider the entire issues in an appeal , so that the parties can have a quietus to the matter.
S. 158BB : Block assessment – Undisclosed income – Gift-Statement during search proceedings- Retraction-Books of account-Oral statement -Evidentiary value -Found and evidence found- Divergence opinion among Courts-Referred to larger Bench (CIT v. DPA Harjeev ( 2016) 241 Taxman 199/ 6 ITR -OL 504 ( Delhi) (HC), CIT v. Hotel Meriya ( 2011) 332 ITR 537 ( Ker) (HC) [ S. 68, 131,132(4), 158BA, Evidence Act, 1872 , S.3, 57, 114 ]
S. 263 : Commissioner – Revision of orders prejudicial to revenue -Dissolution of company-Taken over by limited liability partnership-Opportunity of hearing must be granted to successor before passing the order-Matter remanded to the Tribunal .
S. 254(1) : Appellate Tribunal – Duties- Consolidation of appeals on the request of the department without adequate notice to the assessee is quashed [ S.253]
S. 144C : Reference to dispute resolution panel -Draft assessment order- Limitation- Quoting wrong provision in the assessment order in consequential-Alternative remedy – Writ is not maintainable .[S. 92CA, 246(1)(A), Art . 226 ]
S. 139AA: Return of income – Quoting of Aadhaar Number – Permanent Account number— Provision making it compulsory for all assessees to obtain Aadhaar Card and quote Aadhaar number to prescribed authority —Extension of time by Circular issued by CBDT -Directions issued stating that return filed by the assessee should be processed accordingly . [ Art .226 ]
S. 43A : Rate of exchange – Actual cost- Depreciation- Notional fluctuation- Imported assets acquired in foreign currency — Fluctuation in rate of exchange — Adjustment can be made at each date of balance-sheet pending actual payment. [ S.32 ]
S. 35D : Amortisation of preliminary expenses -Expenses incurred on issue of public subscription of shares or of debentures of the company, any payment made against commission, brokerage and charges for drafting, typing, printing and advertisement of the prospectus would be eligible for benefit.
S.32: Depreciation-Preoperative expenses — Capital expenditure — Entitle depreciation .