S. 80IC : Special category States-Eligible business profits-Fluctuation of the rate of foreign exchange-Excise duty refund-Sale of scrap generated in the manufacturing process-Eligible for the deduction. [S. 10A, 56]
S. 80IC : Special category States-Eligible business profits-Fluctuation of the rate of foreign exchange-Excise duty refund-Sale of scrap generated in the manufacturing process-Eligible for the deduction. [S. 10A, 56]
S. 80IBA : Profits and gains from housing projects-Constitutional Validity-Discrimination-Real estate developers-Timelines provided to start-up companies-No evidence of discrimination-Provision valid-Timelines could not be extended. [S. 80IAC, Art. 14, 226]
S. 69C : Unexplained expenditure-Bogus purchases-Books of account not rejected-Tribunal restricting the income at 6% of bogus purchases-No substantial question of law. [S. 260A]
S. 37(1) : Business expenditure-Corporate social responsibility expenditure-Expenditure for earlier years allowable as a deduction-CBDT Circular binding on the department.
S. 32 : Depreciation-Goodwill, Patent, Trade Mark and Intellectual Property Rights-Intangible assets-Entitled to depreciation-Trademark need not be registered in assessee’s name. [S. 32(1(ii)]
S. 10(26AAAA): Income of Sikkimese – Individual- Old Indian settlers who had settled in Sikkim prior to the merger of Sikkim with India on April 26, 1975 were also entitled to the exemption-Proviso excludes from the provision of exemption a Sikkimese woman merely because she marries a non-Sikkimese after April 1, 2008 is discriminatory and violative of articles – Law declared by Court to be treated as law until legislation is made. [ Sikkim Income Tax Manual, 1948, Sikkim Citizenship (Amendment) Order, 1989 — Sikkim Work Permit Rules, 1965, Art. 14 15 142 371F ]
Benami Property Transactions Act, 1988
S. 3: Benami Transactions — Notice in respect of transactions entered into prior to amendment in 2016 – Amendment to have effect only prospectively — Notice was quashed[ Benami Transactions (Prohibition) Amendment Act, 2016, S 53 ]
Benami Property Transactions Act, 1988
S. 3: Benami Property Transactions – Act not retrospective in operation — Not applicable to transactions entered into prior to coming into force of the Act ie. 25-10-2016. [S.2(9)(A)(b), 3(2), 5, Art .20(1) , Art, 226 ]
Direct Tax Vivad Se Vishwas Act, 2020 .
S. 4: Declaration – Delay in payment of tax Time limit for deposit of tax — Substantial amount was deposited – Failure of the Chartered Accountant to information from the portal -Directed the Revenue to accept the balance deposit of tax with interest [ S. 119(2)(b), Art , 226 ]
S. 276CC : Offences and prosecutions-Failure to furnish return of income-Levy of penalty-Tribunal set aside the penalty order-Prosecution is not justified. [S. 271(1)(c), 271F, 276C]