S. 234B : Interest-Advance tax-Application of seized or requisitioned assets-Seized cash can only be adjusted against tax liability of person from whom cash was seized and till date of framing of assessment of parties-Revenue had no authority to treat cash seized from possession of one person as cash belong to another person. [S.132(4), 132B(3),140A,153A, 260A]
S. 220 : Collection and recovery-Assessee deemed in default-Pendency of appeal before CIT(A)-Failure to deposit 20 per cent of outstanding demand-Application for stay of demand could be considered without a 20 per cent pre deposit, matter required to be remitted to Assessing Officer for considering stay application bearing in mind legal principles-Matter remanded. [S. 250, Art. 226]
S. 220 : Collection and recovery-Assessee deemed in default-Cash credits-Pendency of appeal before Tribunal-Not been able to make out prima facie case in its favour for stay on recovery proceedings and had also not been able to demonstrate financial stringency-Recovery proceedings is not stayed. [S. 220(6), 254(1), Art. 226]
S. 220 : Collection and recovery-Assessee deemed in default-Pendency of appeal before Tribunal-30 per cent of demand had already been recovered-Further recovery of tax demand is stayed till disposal of appeal by Tribunal.[S. 220 (6), 254(1) Art. 136]
S. 201 : Deduction at source-Failure to deduct or pay-Foreign remittance-Purchase of subscription-No liability to pay tax in India-Cannot be treated as assessee in default-DTAA-India-Singapore-SLP of Revenue is dismissed due to low tax effect. [S. 9(1)(vii), 201(1), 201(IA), 268A, Art. 5, 7, 12(3), 12(4)(a), 12(4)(b)]
S. 194H : Deduction at source-Commission or brokerage-Agreement with distributors/franchisees for sale of their prepaid products-Not liable to deduct tax at source-Order of Tribunal is set aside.[S. 260A]
S. 194H : Deduction at source-Commission or brokerage-Payment from distributor to assessee had no link with further sale made by distributor-Not liable to deduct tax at source-High Court affirmed the order of the Tribunal-SLP of Revenue is dismissed.[Art. 136]
S. 158BD : Block assessment-Undisclosed income of any other person-Block period 1-4-1996 to 7-5-2002-Assessing Officer of searched person had not recorded the satisfaction for initiation of proceedings-Order is without jurisdiction and unauthorised-No substantial question. of law. [S. 132,144, 153C, 260A]
S. 153C : Assessment-Income of any other person-Search and seizure-Satisfaction note is required to be recorded under section 153C for each assessment year-Consolidated satisfaction note had been recorded for different assessment years, it would vitiate entire assessment proceedings.[S. 132, 260A]
S. 153C : Assessment-Income of any other person-Search and seizure-Loose sheet-Not form part of books of account-diaries/loose sheets-Order of Tribunal is affirmed-No substntail question of law.[S. 132, 153A, 260A]