S. 143(2) : Assessment – Notice – Appellate Tribunal- Ground on pure question of law can be raised before the ITAT- Notice issued by the ITO who did not have a jurisdiction to issue notice – Statutory notice u/s 143(2) lacks jurisdiction and order is bad in law [ S. 143(3) 254(1) ]
S. 131 : Power – Discovery – Production of evidence – Summons stating not to depart until permission granted – Violates fundamental rights guaranteed under Part III of the Constitution of India [ S.148, Constitution of India , 1950 Arts, 12 to 35 ]
S. 115JB : Book profit – Capital gains- Capital asset- Sale of agricultural land- Gains from sale of agricultural land which is not a capital asset cannot be included for computing book profit . [ S.2(14)(iii), 2(IA), 5, 10(1), 45 ]
S.68: Cash credits – Gift from father and brother – Agricultural income- Source of deposit explained – Addition is held to be not justified .
S.68: Cash credits – Gift received by son- Source of cash deposits were explained – Addition cannot be made on the suspicion that source of source is doubtful.
S. 68 : Cash credits – Firm -Partner- Capital brought in by partner – Agricultural income -Addition cannot be made in the assessment of the firm . [ S.2(31) (iv) ]
S. 50C : Capital gains – Full value of consideration – Stamp valuation – Addition cannot be made without referring the matter to DVO- Power of Attorney holder does not became the owner of property on signing the sale deed in the capacity as constituted attorney [ S.45 ]
S. 45(2) : Capital gains – Conversion of a capital asset in to stock-in-trade – Asset received under family arrangement treated as stock in trade – Addition cannot be made as capital gains. [ S.2(14), 49(1)]
S.45: Capital gains – Development rights – Business assets -Accrual of income – Provisions of Section 2(47) r.w.s 53A of the Transfer of property Act 1882 are not applicable to transfer of development rights held by assessee as business assets [ S. 2(47)(v),44AD, 145 , Transfer of Property Act , 1882 , S.53A]
S.45: Capital gains- Reduction in share capital- Compensation received by an existing partner on reduction of his share in the partnership firm is not liable gains tax [ S. 2(47), 4, 45(1) , 45(4)