S. 11 : Property held for charitable purposes-Non registration of trust does not render activities as non charitable advance to charitable object-Exemption cannot be denied-Diversion of fund-Only income which is violation of the provision can be taxed at maximum marginal rate and not whole income of the Trust. [S. 13(1)(c)]
S. 10A : Free trade zone-Computation-Gross total income-Exclusion of Telecommunication expenses from export turnover proper.
S. 44AB: Audit of accounts – Business – Profession – Remuneration received from Partnership Firm – Firm is separate legal entity – Remuneration and interest from partnership firm – Not to be included in gross receipt or turnover – Presumptive basis – No tax Audit is required ,if remuneration does not exceeds threshold limit for Tax Audit- Return cannot be treated as invalid for failure to get Tax Audit report .[ S. 2(13), 2(31)(iv) , 2(36), 44AD, 139(9), 264 ,271B, Art , 226 ]
S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Undisclosed income-Possession of undisclosed jewellery not undisclosed income-Penalty not leviable. [S. 132]
S. 271(1)(c) : Penalty-Concealment-Not specifying the limb of section-Penalty proceedings is not sustainable. [S. 274]
S. 271(1)(c) : Penalty-Concealment-Arm’s length price-Adjustment of transfer pricing-Disallowance of expenditure-Penalty not leviable.
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Substantial expansion-Initial assessment year-Order not erroneous-Revision was held to be not valid. [S. 80IC]
S. 154 : Rectification of mistake-Intimation-Not reporting income in proper columns-Double taxation-Income cannot be taxed twice-Matter remanded-DTAA-India-United Kingdom. [S. 143(1), Art. 13]
S. 153C : Assessment-Income of any other person-On money-Settlement Commission-Firm admitting that the surplus belong to the firm and related parties-Amount credited to partner’s account-Deletion of addition is held to be justified. [S. 132]
S. 147 : Reassessment-No fresh tangible material-Reassessment not valid. [S. 143(1), 148]