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]
S. 245D : Settlement Commission-Limitation-Delay in passing order not due to assessee-Delay could be condoned-SLP of Revenue is dismissed. [S. 245D(4A), 245D(4A)(iii),245HA(1)(iv), Art. 136]
S. 245D : Settlement Commission-Search and seizure-Suppression of sale-Abated on account of it not being true and full disclosure of unaccounted income on basis of volumetric report-Survey report-High Court also held that withdrawal of writ petition did not close any of rights of assessee to raise issue of illegality of survey report before Settlement Commission and, thus, by withdrawal of writ petition matter of challenge to volumetric measurement report could not become final-SLP of Revenue is dismissed. [S.132, 133A, 245C, 245D(4), Art. 136]
S. 234B : Interest-Advance tax-Application of seized or requisitioned assets-Seized cash can only be adjusted against tax liability of person from whom cash was seized and till date of framing of assessment of parties-Revenue had no authority to treat cash seized from possession of one person as cash belong to another person. [S.132(4), 132B(3),140A,153A, 260A]
S. 220 : Collection and recovery-Assessee deemed in default-Pendency of appeal before CIT(A)-Failure to deposit 20 per cent of outstanding demand-Application for stay of demand could be considered without a 20 per cent pre deposit, matter required to be remitted to Assessing Officer for considering stay application bearing in mind legal principles-Matter remanded. [S. 250, Art. 226]
S. 220 : Collection and recovery-Assessee deemed in default-Cash credits-Pendency of appeal before Tribunal-Not been able to make out prima facie case in its favour for stay on recovery proceedings and had also not been able to demonstrate financial stringency-Recovery proceedings is not stayed. [S. 220(6), 254(1), Art. 226]
S. 220 : Collection and recovery-Assessee deemed in default-Pendency of appeal before Tribunal-30 per cent of demand had already been recovered-Further recovery of tax demand is stayed till disposal of appeal by Tribunal.[S. 220 (6), 254(1) Art. 136]
S. 201 : Deduction at source-Failure to deduct or pay-Foreign remittance-Purchase of subscription-No liability to pay tax in India-Cannot be treated as assessee in default-DTAA-India-Singapore-SLP of Revenue is dismissed due to low tax effect. [S. 9(1)(vii), 201(1), 201(IA), 268A, Art. 5, 7, 12(3), 12(4)(a), 12(4)(b)]
S. 194H : Deduction at source-Commission or brokerage-Agreement with distributors/franchisees for sale of their prepaid products-Not liable to deduct tax at source-Order of Tribunal is set aside.[S. 260A]