S. 143(3): Assessment – Insolvency of Assessee — Claims to Interim Resolution Professional include claims not yet adjudicated — Insolvency petition during pendency of assessment proceedings — Revenue aware of petition and its approval — No claim before Interim Resolution Professional — Order of assessment and demand is not valid . [Insolvency and Bankruptcy Code, 2016 , S. 31 , The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, Art. 226 ]

S. 250 : Appeal – Commissioner (Appeals) – Stay of recovery – Pendency of appeal before CIT((A) for more than four years – As on 26 -9 -2024 , 5, 80, 188 appeals are pending – Revenue is not able to resolve the appeals by classifying the Appeals as per the issues concerning , the recurring issues, covered issues, etc- The Court held that no recovery should be made from the petitioners of any outstanding dues from the petitioners whose Appeals are pending during pendency of petitions . [ S.220, 226 , Art . 226 ]

S. 4 : Charge of income-tax -Income – Capital or revenue – Member of Society – Hardship compensation amount received from builder is capital receipt – Not taxable as income from other sources .[ S.2(24), 56 ]

S. 3: Amount payable by declarant-Seventy five per cent. of amount determined under scheme paid-Slight delay in paying balance due to circumstances beyond control-Delay is condoned-Direction issued to the respondent to immediately take necessary steps for issuance of form 5 under the Direct Tax Vivad se Vishwas Act, 2020. [S. 4,5, Art. 226]

Direct Tax Vivad Se Vishwas Act, 2020,
S. 2(1): Legacy Dispute Resolution-Deposit of tax arrears-Dropping of cheque in the drop box-Delay of three days in delay of deposit of cheque due to circumstances beyond control. [ITAct, 119, S. 3, 4, Art. 226]]

S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Commissioner-Compounding of offences-Application-Limitation-Application can be filed either before or subsequent to launching of prosecution-Circular issued by Central Board Of Direct Taxes stipulating limitation period of 12 months-Contrary to legislative intent of provision-Relevant clause of Circular struck down-Matter remitted to decide application on the merits. [S. 119(1), 279(2), Art.226]

S. 276CC : Offences and prosecutions-Failure to furnish return of income-Eligibility to file declaration under scheme-Tax arrears-Not a tax arrear under VVSV Act, 2020-Rejection of application-Prosecution is not valid-SLP of Revenue is dismissed. [S. 139(1) 153A, Direct Tax Vivad Se Vishwas Act, 2020, S. 2(1(o), Art.. 136 ]

S. 264: Commissioner-Revision of other orders-Rectification of mistake-Long term capital gains-Time-Limit-Sale of flat inherited-Indexed cost of improvement-Omission of claim of deduction of Indexed renovation expenses in return of income-Rectification application is rejected on the ground that new claim was not raised earlier-Claim was accepted in other co-owners-Matter remanded for de novo consideration. [S. 45, 48, 50(C)(2), 143(3), 154, Art. 226]c

S. 264 : Commissioner-Revision of other orders-Delay of two years-Pedantic-Genuine hardship cannot be restricted to severe financial crises is only unwarranted-The Authorities have to do substantial justice-Directed to condone the delay and decide the matter on merits-Rectification of mistake-Duty of Assessing Officer-Pendency of rectification application for six years-The Assessing Officer duty bound to pass order expeditiously-The Hon Court directed to place Copy of this order to the Chairman of CBDT, so that suitable actions are taken to comply with the directions given by this court. [S. 44AB, 80IC, 119(2)(b), 143(1), 154, Art. 226, Form No 10CCB]

S. 260A : Appeal-High Court-Delay of three years -Not explained sufficient cause in delay in filing an appeal-The lack of sincerity, or rather complete absence thereof on the part of the Revenue in this case was glaringly conspicuous by its having not even filed an application seeking condonation of this colossal delay of about three years in filing these appeals-Delay is not condoned.[S.260A(1) 260A(2)