S. 37(1) : Business expenditure-Fees-ROC-Capital or revenue-Debt restructuring-Increase in authorised capital and annual remuneration paid to monitoring institution under CDR-Allowable as revenue expenditure.
S. 37(1) : Business expenditure-Fees-ROC-Capital or revenue-Debt restructuring-Increase in authorised capital and annual remuneration paid to monitoring institution under CDR-Allowable as revenue expenditure.
Black Money [Undisclosed Foreign Income and Assets] and Imposition of Tax Act, 2015
S.10: Assessment – AO must issue notice within thirty days from the end of the financial year in which he became aware of the foreign assets. If issued beyond 30 days, it must be with prior approval by the Pr. DIT or Pr. CIT [ S. 11(1) ]
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
S.10: Assessment – Denial of liability – Foreign assets claimed to be acquired out of income not taxable in India – Income not taxable in India – Alternative remedy – Writ is not maintainable- Directed to pursue alternative remedy of appeal . [ S.14, 15, Art , 226 ]
Direct Tax Vivad Se Vishwas Act, 2020
S. 4: Filing of declaration and particulars to be furnished – Depositing the challan under minor head ‘200’ instead of ‘400’ -Directed to give credit and issue revised Form No 3 [ Art , 226 ]
Wealth-Tax Act, 1957
S. 2(ea):Assets — Urban land — Agreement for sale of land to developers in December 2000 — Possession was given to buyers —Buyers conveying the land to third person in August 2007 – Value of land not assessable in hands of assessee. [ S. 2(n) 3, 16(3), 17 ]
Wealth-Tax Act , 1957
S. 2(ea):Asset -Stock in trade – Urban land – Net wealth – Special Township and Tourism Project – Stock in trade – Not liable to wealth -tax – The aggregate value of debt owed by Respondent in respect of assets owned by Respondent have to be reduced from the aggregate value of asset belonging to Respondent. [S. 2(e)(a)(v), 2(m), Bombay Tenancy and Agricultural Lands Act, 1948, S. 63-IA(1) ]
Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 – Chapter V of the Finance Act, 2019- Amnesty Scheme .
Clause 126: Verification by designated committee – Failure to deposit the tax with in stipulated time – Rejection of application is held to be justified [ Clause, 127, 129, Art . 226 ]
S. 147 : Reassessment-Wrong recording of reasons-Recorded reasons refers sale of property-Non application of mind-Notice and order was quashed and set aside. [S. 148, Art. 226]
Expenditure tax Act, 1987.
S. 21 : Revision-Notice-Notice can be issued only by Commissioner-Notice issued by Assistant Commissioner-Not Valid-Principles of natural justice-Principle of waiver cannot be invoked so as to confer jurisdiction.
Income Declaration Scheme of 2016,
S. 195 : Power to remove difficulties-Not depositing the first instalment with in time-Board refusing to condonation of delay-Concession and excess indulgence would have demotivating effect on honest taxpayers making regular and prompt tax deposit-Dismissal of application is held to be not justified. [S. 184, ITA, S. 119,(2),(Art.14]