S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Captive power plant-Supply of power to own unit-Sale of small portion to State grid corporation-Rate to be adopted-Market value-Rate at which State Electricity Board supplies to industrial consumers. [S. 80IA(8)]
S. 80HHC : Export-Turnover in excess of Rs. 10 Crores-In Terms Retrospective amendment-Struck down by High Court and affirmed by Supreme Court-Substantive amendment with retrospective operation-Effective only from date of amendment.[S.80HHC(3)]
S. 69 :Unexplained investments-Alleged purchase of land-No land is purchased it was only proposal-Addition is deleted.[S. 132]
S. 69 : Unexplained investments-Survey-Surrender of income-Stock offered as business income-Assessable as business income-Special rate of tax cannot be applied. [S.115BBE, 133A]
S. 68 : Cash credits-Cash deposits-Demonetisation period-Books of account not rejected-Addition cannot be made on suspicion, conjectures-Additional ground is admitted.[S.115BBE, 143(3),ITAT R. 11]
S. 68 : Cash credits-Sale of agricultural land-Dishonour of cheque-Receiving back advance payment by cash-Sale not materialised-No long term capital gains-Matter remanded to for verification. [S. 45]
S. 68 : Cash credits-Cash deposits in bank account-Demonetisation-Cash sales and opening balance-Advance salary to employees-Addition is deleted. [S.115E]
S. 68 : Cash credits-Share capital-Share premium-Loss making company-Genuineness of transaction is not proved-Addition is affirmed-Reassessment is affirmed. [S. 143(3) 147, 148]
S. 147 : Reassessment-Information from Additional Director of Income-Tax (Inv.)-Advance receivable-Recorded in the books of account-All advances and payments made through banking channels-Re assessment is not valid.[S.143(3), 148]
S. 147 : Reassessment-Residential status-Fictitious loss-Reassessment notice on the assumption as resident-Reopening Based on receipt of information of escapement of income-Assuming as non-resident-Proceedings in status of Non-resident is bad in law-In Income-tax matters, the law to be applied is the law in force for the relevant assessment year unless otherwise stated or implied. [S. 133A, 143(3) 144C(15(b)(ii) 148]