S. 147: Reassessment-Legal representatives-Information from Investigation Wing-Assessment orders were framed in the name of deceased assessee-Reopening notice and assessment orders were quashed and set aside. [S. 148, 159]
S. 147: Reassessment-Legal representatives-Information from Investigation Wing-Assessment orders were framed in the name of deceased assessee-Reopening notice and assessment orders were quashed and set aside. [S. 148, 159]
S. 147: Reassessment-Change of opinion-Interest-free advances-No fresh information-Reassessment was quashed-Notional Interest-Order of CIT(A) deleting the notional interest was affirmed. [S. 4, 28(i),37(1), 143(3), 148]
S. 145: Method of accounting-Estimation of income-Income recognition-Toll contractor awarded with a 15-year toll collection and maintenance contract-Only net consideration as income instead of gross receipts and expenses-Assessing Officer was not right in taxing gross income and ignoring estimated maintenance costs.[S. 4, 5]
S. 145: Method of accounting-Project completion method (PCM)-Real estate developers-Consistently accepted-Application of Percentage Completion Method by Assessing Officer was unjustified-Survey-Merely on basis of a statement recorded during survey proceedings under sections 133A/131, without any corroborative evidence, could not be sustained. [S.131, 133A]
S. 144C: Reference to dispute resolution panel-Limitation-Final assessment order dated 28-06-2022 was passed after DRP directions on 22-4-2022-Beyond the time limit prescribed under section 144C(13) Barred by limitation-Order was quashed.[S.92CA, 144C(13)]
S. 80P: Co-operative societies-Commission income from MSEDCL Bill Collection-Services rendered to members-Entitled to exemption. [S.80P(2) (c)]
S. 115BAA: Tax on income of certain domestic companies-Determination of tax in certain cases-Total income-Long Term Capital Gain, would be 22 per cent as per section 115BAA and not 20 per cent under section 112. [S. 112]
S. 80JJAA : Employment of new workmen-Revised return-Claim was a made in return before Assessing Officer-Deduction could not be denied merely because revised form was not filed before due date of return-Matter was to be remanded to Assessing Officer for limited purpose of verification of quantification of deduction. [S. 139(1), Form No. 10DA]
S. 80G: Donation-Wrong clause-Rejection solely on this basis was improper since an opportunity to rectify, or suo motu consideration under the correct clause, should have been provided. The presence of an object enabling application of funds outside India does not bar 80G registration if eligibility otherwise exists.[S. 12A, 80G(5), Form No 10AB]
S. 80G: Donation-Promoting education in Gujarat-Company not-for-profit-Rejection of application by CIT(E)-Order of rejection was set aside, and the matter was restored to the file of CIT(E), with a direction to examine assessee’s application afresh on merits in accordance with law [S. 11,1 2, Companies Act, 2013, S. 8, Form 10AB, R. 11AA]