S. 54F: Capital gains-Investment in a residential house-Construction of residential house-Booking of flat under construction-Registration within three years-Exemption allowable-Difference in value of flat disclosed in Schedule AL and registered sale deed-Difference explained-Addition deleted.[S. 45, 69B]
S. 44BB: Mineral oils-Computation-Non-resident-Presumptive taxation-Goods and Services Tax (GST) collected separately-Not includible in gross receipts.[S. 145A]
S. 37(1): Business expenditure-Commission-Telecommunication business-Ad hoc disallowance deleted-Royalty, Wireless Planning Commission charges and advertisement expenditure-Revenue expenditure-Judicial consistency followed.
S. 12AA: Procedure for registration-Trust or institution-Defects curable-Matter remanded for fresh consideration. [S. 80G, Rajasthan Public Trust Act, 1959, S. 17]
S. 11: Property held for charitable purposes-Form No. 9A-Revised Form filed before completion of assessment-Correct taxable income to be determined-Matter remanded.[S. 143(3)]
S. 11: Property held for charitable purposes-Registration granted subsequently-Audit report in Form No. 10B filed thereafter-Substantial compliance-Exemption allowable-Return filed within time under section 139-Amendment by section 12A(1)(ba) prospective-Exemption not to be denied. [S. 12, 12AA,139(4A) 143 (1)]
S. 4: Charge of income-tax-Capital or revenue receipt-Redevelopment of property-Compensation for hardship on vacating flat-Capital receipt not chargeable to tax-Appellate Tribunal-Delay of 1566 days-wrong legal advice-Delay was condoned. [S. 253, 254(1)
S. 2(22)(e) : Deemed dividend-Inter-corporate deposits-Commercial transaction carrying interest-Not deemed dividend-CBDT Circular No. 19 of 2017, dated 12-6-2017. [S. 119]
S. 271D : Penalty-Takes or accepts any loan or deposit-Legal heir-Cash loans accepted or repaid by company-Legal heir not liable for acts of deceased director.[S. 159(6), 269SS, 269ST, 271E]
S. 268A : Appeal-Instructions-Circulars-Monetary limits-Departmental appeal-Tax effect below prescribed limit-Appeal not maintainable.-CBDT Circular No. 5 of 2024, dated 15-3-2024(2004) 462 ITR 273 (St), as amended by Circular No. 9 of 2024, dated 17-9-2024 (2024) 468 ITR 1 (St.) [S.132, 153A, 253, 254(1)]