S. 153A: Assessment-Search and seizure-No incriminating material-Difference between physical stock and book stock by itself cannot constitute incriminating material-Addition based only on sworn statement without corroborative evidence-Assessment quashed-Delay of three days was condoned.[S. 37, 132, 143(3), 253]
S. 147: Reassessment-Educational institution-Fresh claim for exemption under section 10(23C) cannot be raised in reassessment proceedings-Order of CIT(A) was restored to decide on merits. [S 10(23C), 139(4C), 143(3), 148, 250]
S. 144C: Dispute Resolution Panel-Fresh claim-Valid claim raised for first time before Panel-Maintainable-Matter remanded for adjudication on merits.[S. 254(1)]
S. 144C: Reference to dispute resolution panel-Directions issued without Document Identification Number (DIN)-CBDT Circular No. 19/2019 violated-Order null and void. [S. 92CA]
S. 143(3): Assessment-Return filed in name of the amalgamating company after amalgamation-Return non est-Assessment in the name of a non-existent entity also invalid. [S. 139(9)]
S. 143(3) : Assessment-Income-Alleged suppression of purchases-Comparison of eleven months’ purchases with twelve months’ purchases-Wrong methodology-Addition deleted.[S.5]
S.143 (3): Assessment-Revised claim during assessment proceedings-Re-computation of deduction-Fresh revised return not necessary-Tribunal can entertain claim.[S. 10AA, 139, 254(1)]
S.115BBE: Tax on specified income-Determination of tax in certain cases-Unexplained money-Search conducted prior to amendment-Enhanced tax rate of 60% not applicable. [S. 69A, 132]
S. 115-O: Domestic companies-Tax on distributed profits-Dividend Distribution Tax-Dividend paid to non-resident shareholder-Rate prescribed under section 115-O applicable-Rate under DTAA not applicable to domestic company paying dividend distribution tax.
S. 92CA: Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length price-Avoidance of tax-Investment in equity shares of overseas subsidiary-Not an international transaction of loan-No notional interest could be charged. [S. 92B, 92C]