S. 143(3) : Assessment-Notice-Jurisdiction-High Court setting aside notice-Question of limitation is not to be raised-The High Court of the Orissa high court is modified. [S. 124(3), 142(1) 143(2)]
S. 143(3) : Assessment-Notice-Jurisdiction-High Court setting aside notice-Question of limitation is not to be raised-The High Court of the Orissa high court is modified. [S. 124(3), 142(1) 143(2)]
S. 119 : Central Board of Direct Taxes-Return-Delay in filing of return-Refund-Condonation of delay-Non-Resident-Aware of process of filing return of income-No genuine hardship or reasonable case fir late filing of the return-No violation of principles of natural Justice-Order sustainable. [S. 119(2)b), 139, 237 Art. 226]
S. 119 : Central Board of Direct Taxes-Return-Delay in filing-Refund-Condonation of delay-Ignorance of law was not an excuse-High Court holding that there was no genuine hardship or reasonable cause for late filing of return. [S. 119(2b), 237, Art. 136]
S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Management support service-Deletion of addition by the Tribunal is affirmed. [S. 260A]
S. 80P : Co-operative societies-Credit societies giving credit to own members-Eligible deduction. [S.80P(4), Banking Regulation Act, 1949, Art. 136]
S. 80P : Co-operative societies-Co-operative Bank-Entitled to deduction.[S.80P(2)(i), 80P(2)(d)]
S. 80HHC : Export business–Amendment in 1991 with Effect from 1-4-1992 is prospective-Sale of shares-Business income-to be included in total turnover-Interest earned from deposit of surplus funds in banks–Income from other sources”-to be excluded in computation of deduction. [S. 56, 80HHC(3)]
S. 72A : Carry forward and set off of accumulated loss and unabsorbed depreciation-Amalgamation-Demerger-Sale of windmills-SLP of Revenue is dismissed. [S. (2(19aa), 32, 72A(4)]
S. 69C : Unexplained expenditure-Search and seizure-Duplicate account-Yield in various years-Finding reversed relying on statement-Order of Tribunal is restored. [S. 132, 143(3)]
S. 69 : Unexplained investments-Unexplained money-Possession of goods as bailee for carriage of goods-Does not render owner of gods or deemed to be owner-Bitumen is not a valuable article in context of section 69A-Assessee was mere carrier supplying goods (Bitumen) from consignor i.e. oil marketing companies to consignee i.e. road construction department, he could not be said to be owner for purpose of section 69A of the Act-Other Valuable article-Interpretation Of Taxing Statutes-Ejusdem Generis-Noscitur A Sociis-To be construed Ejusdem Generis with money, bullion or jewellery-Additions deleted. [S. 69A,Carriage by Road Act, 2017, S 15,Contract Act, 1872, S. 148, Transfer of Property Act, 1882, S. 54, Indian Penal Code, 1860, S. 405, Sale of Goods Act, 1930, S. 27, 39, Circular No. 20 of 1964, dated 7-7-19964 instruction No. 1916 dated 11-5-1994 ]