S. 143(3): Assessment-limited scrutiny-Profits chargeable to tax-Remission or cessation of trading liability-The addition made under s. 41(1) and disallowance of transmission charges are deleted.[S. 41(1)]
S. 143(3): Assessment-limited scrutiny-Profits chargeable to tax-Remission or cessation of trading liability-The addition made under s. 41(1) and disallowance of transmission charges are deleted.[S. 41(1)]
115JB : Company-Book profit-Income from operation of ships-Income offered income under deeming provision-Provsion of book profit is not applicable-DTAA-India Hing Kong. [S. 44B, 90(2), Art. 8]
S.115BAC:Tax on income of individuals and Hindu undivided family-Option-Form No 10E-New regime and old regime-The assessee cannot be forced to adopt the new regime-The action of the CPC in processing the return of income determining the total income under the new regime of taxation is quashed and set aside.[S. 139, Form No.10E]
S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Interest on outstanding receivables from AES-Outstanding dues beyond an agreed credit period are separate international transaction, which requires to be benchmarked separately and cannot be clubbed together with other transactions-Working capital adjustment subsumed accrued interest on trade receivables, and no separate adjustment should be made was not advanced before the TPO or the DRP-, Issue is restored back to the TPO.[R. 10A]
S. 69A : Unexplained money-Income Declaration Scheme, 2016-quoted wrong PAN No.-issue is restored to the AO for necessary verification. [Income Declaration Scheme, 2016]
S. 69 :Unexplained investments-Jewellley-Banl locker-Old jewellery was converted in to bullion-Addition is justified. [S. 132, 153A]
S. 68 : Cash credits-Repayment of loan-Addition is deleted-Loan outstanding-Report of the Inspector is not provided to the assessee-Violation of principle of natural justice-The matter is restored to the AO to provide the report of the Inspector to the assessee for his rebuttal with proper and supporting evidences.[S. 133(6)]
S. 68 : Cash credits-Survey-Disclosure of additional income as business income-Surrendered income cannot be assesses as cash credit and invoking the provision of section 115BBE of the Act. [S. 115BBE, 133A]
Real Estate (Regulation and Development) Act, 2016 (RERA, Act)
S. 43: Real Estate Appellate Tribunal – Powers of Tribunal – Maharashtra Real Estate Regulatory Authority – Right to legal representation- A Hybrid system of hearing – Execution of orders – Delay in enforcement – Virtual-only hearings – Hybrid hearing not offered – Absence of mechanism for urgent listing and execution – Access to justice is an important of any courts / Tribunals exists , must be given an opportunity of hearing – Tribunals were constituted with the sole objective of delivering speedy , inexpensive and decentralised adjudication of disputes in various matters -Exclusive reliance on virtual hearings is unsustainable- Guidelines issued to ensure access to justice – Writ petition allowed. [ S. 20, 53 ,56 RERA Regulations 2017, Circular No. 34A dated 08.04.2025, Sarvesh Mathur v. Registrar General, (2023) MANU/SCOR/03900/2025, Art. 226, 227, 323A ]
S. 56 : Income from other sources-Issue of shares at premium-Merchant banker on the basis of DCF method-No valuation by DCF method at the time of issuance of shares-Valuation report was obtained in the course of assessment proceedings-The AO is justified in determining the fair market value of shares by applying R. 11UA(2) and making addition by invoking section 56(2)(vib) of the Act. [S. 56(2)(vib), R.11UA(2)]