S. 148 : Reassessment-Two notice-Same assessment year-Issue of second notice during pendency of earlier reassessment-Second notice invalid-Reassessment invalid. [S. 147, 151]
S. 148 : Reassessment-Two notice-Same assessment year-Issue of second notice during pendency of earlier reassessment-Second notice invalid-Reassessment invalid. [S. 147, 151]
S. 147 : Reassessment-Capital gains-Full value of consideration-Stamp valuation-Agreement to sale-Registration-No failure to disclose material facts-Capital gains offered in the Assessment year 2004-05-Reassessment is not valid. [S. 47, 45, 48, 148, Transfer of Property Act 1882, S. 53A]
S. 147 : Reassessment-After the expiry of four years-Share premium-Information obtained during subsequent year assessment proceedings-No tangible material-No reopening on suspicion-Reassessment not valid. [S. 68, 148, 151]
S. 147 : Reassessment-After the expiry of four years-details of inter-unit transfer provided during assessment proceedings-Full and true disclosure-No tangible material-Reopening invalid. [S. 10AA, 148]
S. 145 : Method of accounting-Rejection of Profit-No defects in the books of accounts-Similar profit margin in earlier years-Rejection of books of account is not justified-Estimation of net profit was deleted. [S. 145(3)]
S. 143(3) : Assessment-Non existing company-amalgamation-The assessment order having been passed in the name of a non existent entity, it is invalid and quashed-Being jurisdictional error, not protected u/s. 292B of the Act. [S. 92CA(3), 144C, 292B]
S. 143(3) : Assessment-Addition can only be made in respect of profits / income derived and not the entire turnover. [S. 263]
S. 132(4) : Search and seizure-Statement on oath-Merely on the basis of surrender when no corroborative evidence found against the assessee-Addition is not valid. [S. 132]
S. 90 : Double taxation relief-Collection charges paid by AAI to the assessee in whatever name called i.e. either discount or commission, is nothing but service charge paid, for assessee collecting UDF (User Development Fees) and passing it on to AAI-Cannot be said to be the income derived from operation of aircraft-Appeal dismissed. DTAA-India-Germany. [Art. 7, 8]
S. 80P : Co-operative societies-Status-Matter remanded for fresh adjudication. [S. 2(19), 80P(2)(a)(iii)]