S. 263 : Commissioner – Revision of orders prejudicial to revenue – Penalty for under -reporting and misreporting of income – Revision proceedings held to be not valid merely for non initiation of penalty proceedings u/s 270A of the Act .[ S. 270A]

S. 263 : Commissioner – Revision of orders prejudicial to revenue –
Donation – CSR expenses – Donation to trust – Restriction under Explanation 2 section 37 does not apply – Revision is not valid .[ S. 37(1),80G ]

S. 253 : Appellate Tribunal – Appeal – Appeal filed by a company , struck off by the time it was taken up for hearing – Appeal is maintainable [ S. 68, 179 , Companies Act, 2013 , 248(1), 248(5) 248(6) ]

S. 195 :Deduction at source – Non-resident – Purchase of property- Payee filed the return of income and disclosed the consideration in their respective returns and paid the taxes – Proviso to section 201(1) inserted by the Finance( No. 2) Act , 2019 is retrospective as it removes statutory over sums paid to non-residents [ S. 201 (1), 201(IA) ]

S.145 :Method of accounting – Construction business – Business income -Percent completion project – Cost of project – Income from TDR- SRA project – TDR is inextricably linked to the project – Cost of building has to be deducted against sale of TDR -Matter remanded [ S. 28(1)]

S. 143(1)(a) : Assessment – Intimation – Any sum received from employees –Adjustment made without giving an intimation is held to be bad in law [ S. 36(1)(va), 43B ]

S. 140 : Return by whom to be signed – Company – Appeal filed was verified by General Manager of assessee-company who did not hold a valid Power of Attorney-, Appeal was dismissed in limine [ S. 140(c), 253(6) , Rule 45(3) 47(1), ITAT R. 11. ]

S. 68 : Cash credits – NRI – Gifts from relatives – Cash deposited in bank – There is no prohibition for the NRI for accepting gifts from relatives – Addition was deleted [ S. 131 , 133(6) ]

S. 64 : Clubbing of income – Spouse – Rent paid to wife – Investment in the House property by wife from her own source and loan from Bank – Source of fund established clubbing provision do not apply – There is no legal bar for paying house rent to wife [ S. 10(13A), 24, 64(1)(ii) ]

S. 56 : Income from other sources – Flat booked under construction was not constructed – Alternative flat was allotted in another building which was under construction- Difference between stamp duty value of the alternative flat and the consideration is not chargeable to tax u/s 56(2)(vii ) of the Act . [ S. 2(27), 54, 56(2)(vii) ]