S. 147 : Reassessment-After the expiry of four years-Borrowed satisfaction-Accommodation entry-Information supplied by Investigation Wing-Bogus sales, purchases, fictitious loans etc-Notice and order disposing the objection is quashed. [S.68, 148, Art. 226]
S.147: Reassessment-After the expiry of four years-Depreciation-Subject matter of appeal-Third proviso-Reassessment notice and order disposing the objection is quashed. [S. 11,32, 148, Art, 226]
S. 143(3): Assessment-Losses under head capital gains-Pendency of appeal-Alternative remedy-Writ is not maintainable. [S. 45, 74, 246A, Art. 226]
S. 143(3):Assessment-Reassessment-Death of assesseee-Legal representative-Defective appeal-Legal representatives must register themselves in the IT Portal by submitting the PAN of the deceased assessee along with their PAN as the legal representative of deceased assessee and produce a death certificate-Writ petition is dismissed.[S. 148, 148A(b), 148A(d), 159, 221(1) 246A, Art. 226]
S. 132(3) : Search and seizure-Prohibitory order-Article-Liquor-Contention of Revenue that liquor cannot be included in the expression of valuable article is rejected-Order issued under section 132(3) is quashed on the ground that Revenue could have invoked section 132(1) of the Act. [S. 132, Art. 226]
S. 119 : Central Board of Direct Taxes-Return-Condonation of delay-Filed after six years-Directed to accept the return and the assessee is directed to rectify the errors and the claim for refund should be processed in accordance with law. [S. 119(2)(b), 139, 240, Art. 226]
S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Most appropriate method-TNMM-CUP-Most appropriate method-Order of the Tribunal is affirmed-No substantial question of law.[S. 260A]
S. 44B : Shipping business-Non-residents-Computation-Certificate issued by Singapore Tax authorities will constitute sufficient evidence for accepting the legal position-No substantial question of law-DTAA-India-Singapore. [S.90,260A, Art., 9, 8, 24(1)]
S. 13A : Political parties-Income of political parties-Electoral Bond-Constitutional validity-Right to information of the voter includes the right to information of financial contributions to a political party because of the influence of money in electoral politics (through electoral outcomes) and Governmental decisions (through a seat at the table and quid pro quo arrangements between the contributor and the political party)-Plea of infringement of the right to privacy has no application at all if the donor makes the contribution, that too through a banking channel, to a political party-Amendment to S. 182 of the Companies Act is manifestly arbitrary for (a) treating political contributions by companies and individuals alike; (b) permitting the unregulated influence of companies in the governance and political process violating the principle of free and fair elections; and (c) treating contributions made by profit-making and loss-making companies to political parties alike-Electoral Bond Scheme, the proviso to S. 29C(1) of the Representation of the People Act, 1951 (as amended by S. 137 of Finance Act, 2017), S. 182(3) of the Companies Act (as amended by S. 154 of the Finance Act, 2017), and s. 13A(b) of the IT Act (as amended by s. 11 of Finance Act, 2017) are violative of Art. 19(1)(a) and unconstitutional-Deletion of the proviso to S. 182(1) of the Companies Act permitting unlimited corporate contributions to political parties is arbitrary and violative of Art. 14 [S. 11, 13(A)(b), Companies Act, S.182, Representation of the People Act, 1951 (as amended by s. 137 of Finance Act, 2017, Finance Act, 2017, S. 11, 135, 137 & 154, Companies Act, 2013, S. 182, Money Laundering Act, 2002, Reserve Bank of India Act, 1934, S. 31, Representation of the People Act, 1951, S. 29C(1), Art. 14, 19, 21, 32, Electoral Bond, Scheme, 7(4)]
S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Domain name-Amount received for providing domain name registration services-Cannot be assessed as royalty-Appeal of assessee is allowed-DTAA-India-USA [Art. 12(3)(a)]