S. 12AA : Procedure for registration-Trust or institution-Condonation of delay-Application was rejected-Denial of exemption is justified-SLP rejected. [S. 260A]
S. 12AA : Procedure for registration-Trust or institution-Condonation of delay-Application was rejected-Denial of exemption is justified-SLP rejected. [S. 260A]
S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty-Fees for technical services-Business profits not taxable in India – DTAA-India – Malaysia [S.9(1)(vii), 90(2) art. 5, 7, Copyright Act, 1957, S. 14(a), 14(b)]
S. 4 : Charge of income-tax-Diversion of income by overriding title-Amounts transferred to statutory reserve fund-Amounts received and then transferred-No diversion of income by overriding title.[S. 145]
S. 147 : Reassessment – After the expiry of four years – Bogus purchases and sales – Accommodation entries -Information from DDI (Inv) – Cross examination – Denied giving accommodation entries – Reassessment order is quashed ,[ S.69C , 148]
S. 2(14)(iii): Capital asset – agricultural land – land situated within the jurisdiction of municipality limit – Chargeable to capital gain tax. [ S. 2(14)(iii)(a), 2(14)(iii)(b), 45 ]
S. 68: Cash credits – Cash deposited – Demonetisation- Explained the source – Explanation cannot be rejected on the ground of after thought – Addition is deleted .
S. 271D: Penalty-Takes or accepts any loan or deposit-Cash transactions between group company-Common cashier-Book entries-Reasonable cause-Penalty is deleted. [S. 269SS, 269T, 271E, 273B]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Lack of enquiry-Sales through NSEL-Alleged out of book sales-NSEL has not responded to the letter issued by the Assessing Officer u/s 133(6)-Possible view-Revision is bad in law and quashed. [S. 133(6), 143(3)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Lack of enquiry-Contribution to Provident fund and ESI-Justified in setting aside the order-Incentive payments-Commission-Tax deduction at source-Not justified in revising the order-Exempt income-Debatable issue-Revision order is set aside. [S. 14A, 36(1) (v), 139(1), 192, 194H]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash deposit-Demonetisation-No lack of proper enquiry-Proper explanation was furnished in the course of assessment proceedings-Revision order is quashed. [S. 68, 143(3)]