S. 32 : Depreciation-Carry forward and set off of unabsorbed depreciation-Amendment of Section 32(2) by Finance Act, 2001-Unabsorbed depreciation or part thereof not set off till Assessment year 2002-03-Carry forward and set off permitted without limit-High Court affirmed the order of the Tribunal-SLP of Revenue is dismissed [S. 32(2) Art. 136]

S. 11 : Property held for charitable purposes-Specific purposes and objects without profit motive-Investment in Joint venture and utilisation of land allotted by Government for commercial purposes and earning profits in form of rental Income and sharing of profits-Deviation and contravention of objects, purposes and mission-Not entitled to exemption-Denial of exemption cannot be restricted only to extent of sum of investment in joint venture-Assessee is not entitled to exemption. [S.11(5), 12, 12A,13(1)(d), 80G, 260A]

S. 9(1)(vi) : Income deemed to accrue or arise in India- Royalty-
Income-Tax-Transfer of Copyright and right to copyrighted article-Customer relationship management services by resident of Singapore-Fees received not royalty-Not taxable in India [DTAA-India-Singapore [Art.12(4)(b)]

S. 4 : Charge of income-tax-Capital or revenue receipt-Subsidy received from Government-Purpose test-Sales-Tax subsidy received from State Government as incentive to set up new unit or large-scale investment in fixed capital-Capital receipt. [S. 28(i), 260A]

S. 158BC : Block assessment – Search and seizure – Undisclosed income — Protective assessment— Altering protective assessment of assessee without any change or development in findings recorded in second block assessment order of other company — Second block assessment order in case of assessee vitiated — Assessee proved nature and source of credit entries in bank accounts of two companies sourced from another company and its subsidiaries — Tribunal order setting aside second block assessment order of assessee justified [ S. 132 , 260A ]

S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Prima facie material to indicate escapement of income from assessment — Objection of assessee considered – Order and notice is valid .[ S. 148A(b), 148A(d), 148 , Art. 226 ]

S. 143(3): Assessment – Insolvency of Assessee — Claims to Interim Resolution Professional include claims not yet adjudicated — Insolvency petition during pendency of assessment proceedings — Revenue aware of petition and its approval — No claim before Interim Resolution Professional — Order of assessment and demand is not valid . [Insolvency and Bankruptcy Code, 2016 , S. 31 , The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, Art. 226 ]

S. 250 : Appeal – Commissioner (Appeals) – Stay of recovery – Pendency of appeal before CIT((A) for more than four years – As on 26 -9 -2024 , 5, 80, 188 appeals are pending – Revenue is not able to resolve the appeals by classifying the Appeals as per the issues concerning , the recurring issues, covered issues, etc- The Court held that no recovery should be made from the petitioners of any outstanding dues from the petitioners whose Appeals are pending during pendency of petitions . [ S.220, 226 , Art . 226 ]

S. 4 : Charge of income-tax -Income – Capital or revenue – Member of Society – Hardship compensation amount received from builder is capital receipt – Not taxable as income from other sources .[ S.2(24), 56 ]

S. 3: Amount payable by declarant-Seventy five per cent. of amount determined under scheme paid-Slight delay in paying balance due to circumstances beyond control-Delay is condoned-Direction issued to the respondent to immediately take necessary steps for issuance of form 5 under the Direct Tax Vivad se Vishwas Act, 2020. [S. 4,5, Art. 226]