S. 32 : Depreciation-Motor Vehicles-Additional depreciation-Charitable Trust-Operating buses to transport students to Schools-Not entitled to additional depreciation. [S. 11, 12A, ITR 1962, Appx. I, Item III-2(ii)]
S. 32 : Depreciation-Motor Vehicles-Additional depreciation-Charitable Trust-Operating buses to transport students to Schools-Not entitled to additional depreciation. [S. 11, 12A, ITR 1962, Appx. I, Item III-2(ii)]
S. 22 : Income from house property-Lease of immovable property Lease agreement as owner of immovable property and not as owner of a business asset-Income assessable as income from house property.
S. 12AA : Procedure for registration-Trust or institution-Corpus donation of funds to another charitable trust-In One Accounting Year-Registration could not be cancelled. [S. 2(15), 11]
S. 11 : Property held for charitable purposes-Voluntary contributions towards corpus fund used for purchase of land-Allowable as application of income. [S. 11(1)((d)]
S. 4 : Charge of income-tax-Capital or revenue-Compensation received on account of failure of performance guarantee-Matter remanded to Tribunal. [S. 254(1)]
S. 2(1)(a) : Appellant-Declarant-Condonation of delay-Effect of Circular of CBDT dated 4-12-2020-The rejection of the declaration was not justified-The declarations of the assessee shall be accepted and thereafter dealt with as provided under the Act. [Art. 226]
S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Commissioner-Failure to deposit tax deducted at source-Deposited in Government Treasury after 11 months-Assessee and persons in charge to face trial-Writ petition to quash the proceedings was dismissed-Petition for Special Leave to appeal dismissed.[S. 192, Art, 136, 226].
S. 276C : Offences and prosecutions-Wilful attempt to evade tax-Failure to file return of income-Payment of tax with interest-No wilful evasion of tax-Prosecution quashed. [S. 140A, 276C(2), 276CC]
S. 271(1)(c) : Penalty-Concealment-Sanction of Joint Commissioner-Definition-Includes Additional Commissioner-Sanction of Additional Commissioner obtained-Penalty proceedings validly initiated. [S.2(28C), 260A, 271(1)(c), 274(2)].
S. 270A : Penalty for under-reporting and misreporting of income-Grant of immunity from penalty and prosecution-Voluntary computation of income filed to buy peace and avoid litigation-Failure to specify in penalty notice whether proceedings initiated for under-reporting or misreporting-Granted immunity. [S. 270AA(4), Art. 226]