S. 254(1) : Appellate Tribunal-Powers-Ex parte order by the Tribunal-Un explained cash credits-Negligent of the Chartered Accountant to make effective representation before the Tribunal-Negligence was not attributable to assessee,-Matter is restored before Tribunal to give an opportunity of hearing-Directed to deposit cost of Rs 25000 before the Tribunal.[S. 68, 260A]
S. 268A : Appeal – Monetary limits – Less than Rs.1 crore – Appeal of Revenue is dismissed – Contribution to construction of new bridge – Capital of revenue .[ S.37(1), 260A ]
S. 158BC : Block assessment – No assessment could be made under section 158BC without issuing a notice u/s. 143(2) .[ S.143(2), 260A ]
S. 40A(2): Expenses or payments not deductible – Excessive or unreasonable -Stacking and handling expenses – Blending and screening charges to its sister concern – Order of Tribunal deleting the disallowance is affirmed .[ S. 260A ]
S.147: Reassessment – After the expiry of four years – No failure to disclose material facts – Year of taxability – Mercantile system of accounting –Reassessment notice and order disposing the objection is set aside . [ S.5, 145, 148 , Art. 226 ]
S.147: Reassessment – After the expiry of four years – No failure to disclose material facts – Year of taxability – Mercantile system of accounting –Reassessment notice and order disposing the objection is set aside . [ S.5, 145, 148 , Art. 226 ]
S. 40(a)(i) : Amounts not deductible – Deduction at source -Non-resident – Income – Deemed to accrue or arise in India Demurrage paid – In terms of relevant sales contract – Income not accrued in India – Not liable to deduct tax at source .[ S. 5(2)(b) ,9(1)(i) ]
S. 249 : Appeal-Commissioner (Appeals)-Condonation of delay-Form of appeal and limitation-Delay of 11 days-Non availability of tax consultant-Delay is condoned-CIT(A) is directed to decide the issue on merits. [S.80P, 246A, 250, Art. 226
S. 35E : Deduction for expenditure on prospecting etc. for certain minerals- Capital or revenue – Amount paid to mining lessees is not towards acquisition of right to mine but was towards expenditure undertaken by said lessees for purpose of developments like roads and trenches, temporary huts, drilling, etc.- Allowable as deduction. [ S. 37(1)]
S. 245D : Settlement Commission-Settlement of cases-Procedure-Application-Unexplained investments-Search-Jewellery-Conclusion of Settlement Commission by accepting explanation in spirit of settlement could not be faulted calling for interference in exercise of writ jurisdiction. [S. 115BBE, 132, 245D(4), 245I, Art. 226]