S. 143(3): Assessment–Recovery of tax-Insolvency resolution Resolution plan-Department bound by resolution plan and barred from enforcing extinguished claim Demand raised beyond plan period void Plan approved by adjudicating authority binding on all stakeholders including Central and State Governments and local authorities Claims not forming part of plan extinguished No creditor including tax authorities entitled to assert claim outside approved plan-Assessment order and demand notice for pre-corporate insolvency resolution process period unenforceable after approval of resolution plan-Alternative remedy-Writ maintainable notwithstanding availability of statutory appeal-[S. 156, 226,246A, Insolvency and Bankruptcy Code, 2016, 31(1), 238, Art. 226, Order XLVII, Rule 1 of the Code of Civil Procedure, 1908.]

S. 119: Central Board of Direct Taxes-Circular-Double taxation relief-Tax credit claim for salary earned Bangladesh-Form filed belatedly-Term genuine hardship to be interpreted liberally-Matter remanded. [S.90, 119(2)(b), 143(1), Form No.67, R. 128, Art. 226]

S. 119: Central Board of Direct Taxes-Circular-Charitable purpose: Delay of 687 days in filing audit report in Form No. 10B-Oversight by Chartered Accountant-Considering the nature of work done by the assessee, the delay in filing the audit report was condoned-Cost imposed of Rs.10,000. [S.11, 119(b) Form 10B, Art. 226]

S. 119: Central Board of Direct Taxes-Circular-Charitable purpose: Delay of 687 days in filing audit report in Form No. 10B-Oversight by Chartered Accountant-Considering the nature of work done by the assessee, the delay in filing the audit report was condoned-SLP of revenue dismissed. [S.11, 119(b) Form 10B, Art. 226]

S. 115BAA: Tax on income of certain domestic companies. Concessional tax regime -Delay in filing Form 10IC-Order of rejection set aside-Department directed to keep portal open to enable assessee to upload Form 10-IC and directed the assessee to file Form 10-IC within four weeks and the Department to deal with the claim of the assessee under section 115BAA on merits and in accordance with law. [S.119(2)(b), Art. 226]

S. 90: Double taxation relief-Tax-Double taxation relief-Dividend distribution tax (DDT) levied under section 115-O held to be a ‘tax’ on dividend income of shareholders, though collected from distributing company for administrative convenience-Beneficial DTAA rate overrides domestic levy under section 115-O-Levy of DDT in excess of 10% held contrary to India-UK DTAA-Interpretation-Board for Advance Rulings-Gross tax rate in appropriate manner-DTAA-India-UK [S. 2(22), S. 2(24),2(43), S.4, S.90(2), S.115-O, 245Q, 245R, 245W, Art. 1, 2, 11].

S. 80IA: Industrial undertakings-Infrastructure development-Developer-Contractor-Works contract-Engaged in activity of construction of two projects and it had borne and undertaken all development risks, geological risks and investment risks; assessee was a developer of projects and not merely a works contractor and, thus, would be eligible for deduction under section 80-IA(4)-Order of Tribunal affirmed.-Interpretation of taxing statutes-Provision should be read rationally -[S.80IA(4), 260A]

S. 68: Cash credits-Unsecured loan-Source of source need not be proved-Order of Tribunal deleting the addition was affirmed. [S.260A]

S. 55: Capital gains-Cost of improvement-Cost of acquisition-Income-Capital or revenue receipt-Compensation from transfer of self-generated trademarks, goodwill, marketing rights and know-how before insertion of the category ‘trademark or brand name’ in section 55(2)(a) effective from 01-04-2002, is to be treated as capital receipt, not revenue receipt. [S.2(14), 2(22B), 2(24(iv), 2(24)(iv), 45, 48, 55(2)]

S. 45: Capital gains-Business income-Land held as an investment-Profit on sale of land held by assessee should be considered as capital gains and not business profits-Circular No. 4 of 2007 dated June 15, 2007 ([2007] 291 ITR (St.) 384) is also applicable to land. [S. 2(14), 4, 28(i), 260A]