S. 144B : Faceless Assessment-Order passed without considering the reply-Incorrect affidavit by the Assessing Officer-Show cause notice was issued for perjury proceedings-Cost of Rs 10000 was imposed payable to PM Cares Fund-Order was set aside. [Art. 226]
S. 144B : Faceless Assessment-Order passed without providing the draft assessment order-Order was quashed-Directed the revenue to prepare draft assessment order as prescribed by law. [Art. 226]
S. 144B : Faceless Assessment-Personal hearing was not granted-Violation of principle of natural justice-Assessment order was quashed-Directed to grant an opportunity of hearing by way of Video Conferencing. [S. 144B(7), 144B(9), Art. 226]
S. 143(3) : Assessment-Show cause notice is mandatory-Assessing Officer is expected to crystalise the issues and issue a show cause notice setting out the issues and solicit the response of the assessee-Assessment order was set aside. [Art. 226]
S. 139 : Return of income-Revised return-Permitted to file revised return in an electronic mode once the direction of the NCLT was communicated. [Art. 226]
S. 115-O : Domestic companies-Tax on distributed profits-Non-Obstante clause-Overriding effect-Amount distributed or paid by way of dividend falls under the category of profits under section 50 of the SIDBI Act-Not liable to pay additional tax. [SIDBI Act, S. 29(2), Unit Trust India Act, 1963, S. 32]
S. 72 : Carry forward and set off of business losses-Delayed furnishing of ITR-V-Order of Tribunal allowing the carry forward of losses was affirmed. [S. 80, 139]
S. 37(1) : Business expenditure-Estate developer-Payment made to settle the dispute to clear the title-Joint venture agreement-Tribunal has no power to rewrite the agreement-Allowable as deduction.
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny-Order passed by the Assessing Officer cannot be revised on an issue which was not taken up in limited scrutiny. [S. 68, 115JB, 143(2)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny-Order passed by the Assessing Officer cannot be revised on an issue which was not taken up in limited scrutiny. [S. 143(2)]