S. 11: Property held for charitable purposes – Registration granted during pendency of appellate proceedings – Benefit of exemption under sections 11 and 12 available for earlier assessment year – Matter remanded to Assessing Officer. [ S. 12,12AA, 250)
S. 255: Appellate Tribunal – Procedure – Functions -Duties – Pronouncement of orders – Tribunal cannot repeatedly release matters without delivering judgment – ITAT directed to strictly adhere to the time-limit prescribed under Rule 34 and pronounce orders within 60 days, or in exceptional cases within 90 days. [S. 254(1) ,255(4), ITAT Rules, 1963, Rule 34(5)(c), Art .226 ]
S. 11: Property held for charitable purposes -Charitable Trust – Delay in filing Form No. 9A – Appellate authorities have power to examine claim independently notwithstanding rejection of condonation application under section 119(2)(b) – Delay of about three months condoned –The Assessing Officer was directed to allow the exemption.[S.12 ,119(2)(b) , Rule 17, Form No. 9A]
S. 271AAB: Penalty-Search initiated on or after 1st day of July 2012- Voluntary surrender of income-Estimated disallowance of expenditure-Not “undisclosed income”-Penalty deleted- Show-cause notice not specifying applicable clause-Penalty void ab initio. [S. 132, 153A, 274]
S. 263: Commissioner- Revision of orders prejudicial to revenue-Non-resident-Offshore supply contract-Offshore design, engineering and commissioning performed outside India-Receipts not taxable in India-Revision under section 263 not justified.[S. 44BB]
S. 234B: Interest-Advance tax- Tax deductible at source-Interest to be recomputed after allowing TDS credit.[S. 199]
S. 234B: Interest- Advance tax- Transfer Pricing-Retrospective amendment-Advance tax-Interest under section 234B not leviable on transfer pricing adjustment arising from subsequent retrospective amendment. [S.92B]
S. 154: Rectification of mistake-Mistake apparent from the record- Error in computation sheet-Assessing Officer directed to rectify.
S. 153C: Assessment- Income of any other person- Search-Absence of satisfaction note and incriminating material-Assessment invalid.[S. 132]
S. 153C : Assessment- Income of any other person- Search- Incriminating documents specifically identifying assessee-Addition upheld- Cash payments evidenced by seized documents-Failure to rebut evidence-Addition sustained- Satisfaction under amended provision-Proceedings valid.[S 69A, 69C,. 132, 133A, 153A]