S. 143(1) : Assessment – Intimation –Mandates only processing the return of income to vouch for the arithmetical error etc – Revenue cannot be allowed to go beyond – Claims not made in the return – Can proceed by filing revision application and not in appeal . [S. 37(1), 119, 264 , Form No .26AS ]

S. 143(1) : Assessment – Intimation –Disallowance provision in section 143(1)(a) (v) , introduced by the Finance Act , 2021 , w.e.f Ist April , 2021 , dealing with deductions claimed under Chapter VI-A applies prospective . [ S. 143(1)(a)(v) ]

S. 119 : Central Board of Direct Taxes- Circular – Delay in filing of return – Posted during Covid 19 and death in family – Delay of 80 days in filing of return is condoned . [S.74, 119(2)(b) 139 Art. 226 ]

S. 80IB(10) : Housing projects- The area of balconies open to sky is not to be considered as part of built -up area of a particular residential unit – Denial of exemption is not justified – Project completion method regularly followed cannot be rejected .[ S. 145 ]

S. 69A : Unexplained money -Frequent cash withdrawals and deposit – Only peak shortage could be added as unexplained under section 69A .

S. 69A : Unexplained money – Assessing the miscellaneous business income as income from other sources and applying the special rate as per section 115BBE is not justified . [ S. 115BBE ]

S. 64 : Clubbing of income – Spouse – Income returned and assessed in the hands of wife can not be again be taxed in the hands of the husband by invoking section. 64(1)(ii) of the Act . [ S. 64(1)(ii), 153A ]

S. 56 : Income from other sources -Allotment letter issued by developer constitute an agreement for the purpose of proviso to section 56(2)(vii)( b) – Addition is deleted. [ S. 56(2)(vii)(b) ]

S. 56 : Income from other sources – Stamp valuation-Date of agreement – Part consideration was paid by Co -owner on or before the date of the agreement – Stamp duty as on the date of boking of the flat to be considered – The date of registration and who has made the payment is immaterial -Addition is deleted.[ S.56(2)(viib) ]

S.54F : Capital gains- Investment in a residential house – Entire actual consideration was invested in purchase of under consideration of residential house – Capital gain is exempt – Provision of section 50C is not applicable .[ S. 45, 48 , 50C , 54F(4)]