S. 5 : Scope of total income-Accrual of income-Interest on overdue payments-Unable to recover outstanding dues-No accrual of income. [S.145, Accounting Standard 9]
S. 5 : Scope of total income-Accrual of income-Interest on overdue payments-Unable to recover outstanding dues-No accrual of income. [S.145, Accounting Standard 9]
S. 271(1)(c) : Penalty-Concealment-Book profit-Bonafide mistake in calculation-Not specifying the charge-levy of penalty is not justified. [S. 10 (38), 115JB]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Assessing Officer calling for further details, making inquiry, examining issue-No discussion in the assessment order-Revision is not valid-Interpretation of taxing statutes-Change of law-Provision inserted from date in midst of financial year, falling within realm of procedural aspects of assessment is to be construed as prospective qua proceedings and not qua assessment year. [S.143(3)]
S. 251 : Appeal-Commissioner (Appeals)-Powers-Enhancement-Non application of mind-The AO to examine the documents and decide accordance with law.
S. 234B : Interest-Advance tax-Book profits-Capital gains before close of financial year-Directed to recompute interest [S.115JB, 234C]
S. 201 : Deduction at source-Failure to deduct or pay-Non-resident-Time-Notice issued more than six years from end of financial year in which transaction took place-Proceedings barred by limitation. [S. 195, 201(1A)]
S. 194IA : Deduction at source-Immoveable property-Joint venture development-Refundable security deposit paid to land owners adjustable against sale consideration-Permission to construction-No transfer of immovable property-Not liable to deduct tax at source on refundable security deposit. [S. 2(47)(v), 2(47)(vi), 201(1), 201(IA), Transfer of Property Act, 1882 S. 53A,)
S. 158BC : Block assessment-Undisclosed Income-Share application money-No incriminating material found during search-Addition is held to be not justified-Interest-Delay in filing return-No provision to charge interest beyond date of original assessment. [S.158BFA(1)]
S. 153D : Assessment-Search-Approval-Search-Charitable Trust-Siphoning off of funds by founder-Approval given without application of mind-Assessment null and void. [S. 10(23C), 12AA]
S. 153C : Assessment-Income of any other person-Search-Failure to file return-Assessment valid–Material found and seized during search pertaining to financial year 2007 having no bearing on determination of total income-Additions deleted. [S.132]