S. 28(i) : Business loss-Penny stock-Share trading-Information from investigation wing-VAS Insfracture Ltd (VASIL)-Not black listed by SEBI-Order of Tribunal allowing the loss is affirmed by High Court-Delay of 224 days-SLP of Revenue is dismissed on account of delay. [S. 10(38), 45, Art. 136]

S. 14A : Disallowance of expenditure-Exempt income-Shares held as stock in trade-No disallowance can be made.[R. 8D]

S. 11 : Property held for charitable purposes-Information to charity commissioner-Remuneration to trustees-Denial of exemption is not justified. [S. 13(1)(c), 260A]

S. 11 : Property held for charitable purposes-Information to charity commissioner-Remuneration to trustees-Denial of exemption is not justified-SLP of Revenue is dismissed. [S. 13(1)(c), 260A]

S. 10(25) : Approved superannuation fund-Exemption-Only Chief Commissioner has power to withdraw approval-Approval not withdrawn-Denial of approval on ground that conditions for approval had not been complied with-Order of denial is not valid.[S. 10(25)(iii)]

S. 5 : Scope of total income-Accrual of income-Terminating lease-Pendency of dispute before Small Causes Court-Small Causes Court allowing lessor to deposit lease rent in Court specifying that deposit was allowed without prejudice to rights of contestants-When the right to receive any sum by the assessee was in jeopardy and sub judice before the Small Causes Court, the Revenue was not justified in bringing to tax-Lease rent did not accrue to assessee. [S. 5(1)(b), 145 ]

Prevention of Corruption Act, 1988.
S. 13: Criminal misconduct by a public servant-Power of High Court-Supreme Court-Automatic vacation of stay-Supreme Court cannot interfere with jurisdiction by passing blanket direction in exercise of power under article 142 and limiting High Court’s jurisdiction to pass interim orders valid only for six months at a time-Directions of Supreme Court that provided for automatic vacation of order of stay and disposal of all cases in which a stay had been granted on a day-to-day basis would virtually amount to judicial legislation and jurisdiction of Supreme Court cannot be exercised to make such a judicial legislation-Constitutional Courts, in ordinary course, should refrain from fixing a time-bound schedule for disposal of cases pending before any other Courts-A reasoned stay order once granted in any civil or criminal proceedings, if not specified to be time-bound, would remain in operation till decision of main matter or until and unless an application is moved for its vacation and a speaking order is passed adhering to principles of natural justice either extending, modifying, varying or vacating same. [ITAct, 1961, S. 254(2A), Constitution of India, 1950, Art. 141, 142, 226(3),227, Code of Criminal Procedure, 1973, 397, 482, Indian Penal Code, 1860,]

Direct Tax Vivad Se Vishwas Act, 2020

S. 2(1)(a) : Appellant-Amount payable and time of payment-Disputed tax-Filing of declaration and particulars to be furnished-Appeal dismissed by the Commissioner (Appeals)-Time limit for filing an appeal before Income tax Appellate Tribunal is not expired-Eligible to apply under provisions of DTVSV-The revenue is directed to proceed with the application of the assessee in accordance with the provisions of the DTVSV Act and other applicable regulations. [S.2(1)(a)(ii), 2(1)(j)(B), 4, S. 250, 254(1), Art. 226]

S. 276B : Offences and prosecutions-Failure to pay to the credit tax deducted at source-Delay of 394 days for depositing the TDS amount deducted-Deposited the TDS with interest-Delay was due to factors like market sluggishness, insolvency proceedings, and COVID-19 pandemic, with no mens rea involved-Proceeding is quashed. [S. 276B, 278B, 279(1)]

S. 270AA : Immunity from imposition of penalty, etc-Income deemed to accrue or arise in India-Royalty-Application for immunity could not be rejected-Order rejecting the application is quashed-DTAA-India-USA [S.9(1)(vi),270A(9),270AA(3), art. 12, Art. 226]