S. 40(a)(ia): Amounts not deductible – Deduction at source – Payment to contarctor – Failure to furnish form No 15J – PAN no of was collected at the time of payment – No dialloawance can be made [ S. 194C (7), R, 31A ] S. 40(a)(ia): Amounts not deductible – Deduction at source – Payment to contarctor – Failure to furnish form No 15J – PAN no of was collected at the time of payment – No dialloawance can be made [ S. 194C (7), R, 31A ]
S .14A : Disallowance of expenditure – Exempt income – In the absence of dividend income – No disallowance can be made [ R.8D ]
S. 12AA : Procedure for registration –Trust or institution-Genuiness of Trust is established – No mandate to get registration under MP Public Trust Act , 1951 – Order of Tribunal is affirmed .[MP Public Trust Act 1951 ]
S. 11 : Property held for charitable purposes – Engaged in running educational institutions and providing medical relief to poor – Running community hall – Entitle to exemption [ S. 2(15), 11(4A)]
S. 10A : Free trade zone – Profits of business – Total turnover – Export turnover- Claiminng deduction u/s 80HHE earlier cannot be bar to claim deduction u/s 10A of the Act [ S.80HHE ]
S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Surrendering additional income-Appeal not filed-Levy of penalty at 10% is held to be justified-Difference in valuation as per books and Department valuer-Levy of penalty is not justified. [S. 132, 153B(1)(b)]
S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Undisclosed income-Cash seized-Past savings of other family members–Inherited jewellery-Advances given to for purchase of land-Deeming fiction cannot be applied-Levy of penalty is held to be not justified. [S. 69, 69B, 132(4)]
S. 271AAA : Penalty-Search initiated on or after 1st June, 2007-Concealment-Additions deleted-Penalty does not survive-Notice not mentioning specific limb of explanation-Penalty not imposable. [S. 274]
S. 263 : Commissioner-Revision of orders prejudicial to revenue Infrastructure undertaking-Assessing Officer taking plausible view-Revision is held to be not valid. [S. 80IA]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Method of accounting-Construction company-Percentage competition method-Mandatory from assessment year 2017-18-Revision is held to be not valid. [S. 43CB]