S. 4 : Charge of income-tax-Firm-Partner-Double taxation-Wrong person assessed-Sale to partner without registration in earlier years-Registration deed in latter years-taxable in the year of registration-Partner declaring the income is his hands and paying taxes-Department entitled to tax income in hands of correct person-Partner at liberty to take remedial action for exclusion of amount from his total income. [S. 2(24), 145, Registration Act, 1908, S. 17(1A) 49]
S. 4 : Charge of income-tax-Capital or revenue-Subsidy-Incentive to encourage development of rural economy-Exemptions from payment of Sales tax/Entry Tax/Electricity dues-Capital receipt-Forfeited amount received in respect of preference shares-Credited receipt in capital reserve account-Capital receipt. [S. 5, 28(i)]
S. 4 : Charge of income-tax-Capital or revenue-Sale of carbon credits-Capital receipts. [S. 28(i)]
S. 4 : Charge of income-tax-Capital or revenue receipt-Compensation for termination of marketing support agreement-No loss of source of income-Not capital nature assessable as business income. [S. 28(i)]
S. 4 : Charge of income-tax-Capital or Revenue-Cancellation of agreement-Right to sue-Compensation or damages for relinquishment of right in property-Avoid legal consequences-Not colourable device-Not taxable as revenue receipt. [S. 2(14),2(47), 25, 28(i), 45]
S. 4: Charge of income-tax-Capital or Revenue-Carbon Credits-Capital Receipt.
S. 2(24)(xviii) : Income-Assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement-Eligible credit under served from India Scheme-Credit to be utilised only against purchase of capital goods and to be set off a portion of excise duty and custom duty only-Does not constitute taxable income [S. 4, 28(i)]
S. 2(22)(e) : Deemed dividend-Holding shares more than 10 Per Cent-Loans from companies assessable as deemed dividend.
S. 2(22)(e) : Deemed dividend-Business transaction-Special purpose vehicle-Not shareholder in lender company-Advance for business purpose-Not assessable as deemed dividend.
S. 2(22)(e) : Deemed dividend-Dividend if at all taxable was taxable in the previous financial year and not in the relevant year-Addition was deleted.