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. 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]
S. 48 : Capital gains-Mode of Computation-Amount paid for professional advice-Allowable as deduction. [S. 45, 48(i)]
S. 37(1) : Business expenditure-Commercial expediency-Agreement for services relating to increased efficiency-Foreign travel of wives of directors-Allowable as deduction.
S. 37(1) : Business expenditure-Contract business-Provision For estimated loss-Accounting Standard 7-On facts held to be not allowable. [S. 145]