S. 142(2A) : Inquiry before assessment-Special audit-Remuneration of special auditor to be determined by competent authorities of department-Micro and Small Enterprises Facilitation Council has no jurisdiction to refer to arbitration though Chartered Accountant firm registered as micro enterprise. [S. 142(2D), Rule 14B, Micro, Small and Medium Enterprises Development Act, 2006, S. 2(d), 15,18(3), 20, 24, Art. 226]
S. 139 : Return of income-Permanent Account Number as association of persons-Application for new Permanent Account as charitable organisation-Earlier permanent Account Number is not surrendered-Assessment is valid. [S. 12AA, 139A, Art. 226]
S. 132 : Search and seizure-Territorial jurisdiction-Notification No. S. O. 2914(E) Dated 13-11-2014-Extension of territorial jurisdiction only in respect of place of search-No extension of territorial jurisdiction with regard to assesses-Search warrant in form no 45 issued by Deputy Director (Investigation)Bangalore and the assessee is in jurisdiction of Officers of Chennai-Search action is held to be illegal. [S. 120,132(IA), Form No 45, Art. 226]
S. 119 : Central Board of Direct Taxes-Return-Delay in filing return-Genuine hardship-Delay of 15 days-Board is directed to consider the application for condonation of delay. [S.119(2)(b),139, Form No 10IC, Art. 226]
S. 80IC : Special category States-Manufacture-Production–Most of manufacture carried out outside specified area-Not entitled to deduction.
S. 80IC : Special category States-Backward area-Value added tax remission-Eligible for deduction.
S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Generation of power-Interest on Bonds issued by Grid Corporation in lieu of unpaid energy bills-Eligible for deduction. [S.80IA (iv)(a),80IB, 80IC]
S. 80IA : Industrial undertakings-Books of account not rejected-
Capping of profits by Assessing Officer is not proper.[S.80IA(10), 145]
S. 69 : Unexplained investment-Bogus purchases-Accommodation entries-Estimation of 12.5 Per cent on alleged bogus purchases is affirmed. [S. 69C]
S. 68 : Cash credits-Bogus purchases-Estimate of 5% of alleged bogus purchases confirmed by the Tribunal is affirmed-No substantial question of law. [S. 69, 260A]