S. 194H : Deduction at source – Commission or brokerage – Exhibition of films – Survey – Theatre owner is not liable to deduct tax at source on convenience fee charged by BookMyshow to the end customer and retained by it- Matter remanded . [ S. 133A, 201(IA)) ]
S. 143(3): Assessment – Civil construction -Stock in trade – Amount surrendered in the course of survey – Assessable as business income – Addition cannot be made as income from undisclosed income under section 69 of the Act . [ S. 69, 133A ]
S. 56 : Income from other sources -Gift from relative – There need not be any occasion for receipt of gift from relative [ S.56(2)(v), 68 ]
S. 45 : Capital gains -Transfer – Developer –Joint development agreement – Part performance – Only licence was granted to the developer- Not liable to be assessed as capital gains [S. 2(47)(v), Transfer of Property Act , S.53A ]
S. 45 : Capital gains -Transfer – Family arrangement – Sale /Transfer of shares under family agreement as per the directions of CLB (Company law Board ) – Not chargeable to capital gains tax [ S. 2(47) ]
S. 23 : Income from house property – Annual value – Flat was not habitable – Annual value cannot be added as income of the assessee .[ S. 22, 23(1)(a) ]
S. 10(34) :Dividend – Domestic companies – Tax on distribution of profits – Dividend received during FY. 2019 -20 relevant to AY. 2020- 21 cannot be taxed . [S. 115O, 154 ]
S. 226 : Collection and recovery – Modes of recovery – 20% of tax demand – Liability of directors of the private limited company – Pendency of appeal – Assessing Officer cannot directly initiate recovery proceedings against directors of the company without taking an assertive step for recovery of the outstanding tax due from the Private Limited company [ S. 179, Art , 226 ]
S. 201 : Deduction at source – Failure to deduct or pay – Stay of recovery – Pendency of appeal – Tax Authorities can grant stay against recovery of demand on deposit of a lesser than 20 percent of the disputed demand . [S. 220 (6), Art , 226 ]
S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Participated in the proceedings by filing return and responding to the notice – Writ is not maintainable [s. 147, 148, 148A(b), Art , 226 ]