S. 194LBC : Deduction at source-Investment in securitization trust-Assessee in default-Excess Interest Spread by securitization trust group-Pass through certificates by originator-No liability to deduct TDS from the payment of Excess Interest Spread by securitization trust-Not an assessee in default. [S.115TCA, Explanation (d), 201(1)]
S. 194C : Deduction at source-Contractors-Freight charges to transporters on behalf of third party under tripartite agreement-Provision is not attracted. [S. 201(1), 201(IA) ]
S. 153C : Assessment-Income of any other person-Search-Not mention of Document Identification No (DIN) in the assessment order-Subsequent separate communication of DIN is a superfluous exercise-Order invalid hence quashed-Circular No. 19 of 2019, dt. 14th Aug., 2019. [S.119, 292B ]
S. 153C : Assessment-Income of any other person-Search-Cash found in the premises-Cash kept for safe custody-No evidence produced to substantiate the claim-Addition is affirmed.
S. 153A: Assessment-Search-No incriminating documents-Loose sheet-Not estimate actual expenditure-Addition is not valid-Protective addition-Addition is confirmed in the assessment of director-No protective addition can be made in the assessment of the Company.
S. 153A: Assessment-Search-Admitted as undisclosed income-Not retracted-Order of CIT(A) deleting the addition is set aside. [S. 68]
S. 151 : Reassessment-Sanction for issue of notice-No approval is obtained before issue of reassessment notice-Re assessment is quashed as void ab-initio. [S. 147, 148]
S. 147: Reassessment-Within four years-Change of opinion-No new tangible material-Performance guarantee-Deposit-Addition was deleted on merits by CIT(A)-Additional legal ground on reassessment is admitted-Reassessment is quashed on the ground of change of opinion. [S. 37, 69, 148, 254(1), ITAT R 1963.R. 27]
S. 147: Reassessment-Change of jurisdiction-Notice is issued by the Assessing Officer who had jurisdiction-Later case was decentralized-No objection was raised before the Assessing Officer-Ground of jurisdiction is rejected [S. 120, 124, 127 148, 149, 151, 282, 282A, General Clauses Act, 1897, S. 27]
S.147: Reassessment-After the expiry of four years-Audit objection-Re assessment is valid.[S. 148]