S. 11 : Property held for charitable purposes-Depreciation-Entitle to set off excess application of income of earlier assessment year-Precedent-Commissioner (Appeals and Tribunal must follow the decision of High Court. [S. 2(24), 11(1)(d), 12(1), 32]
S. 10B : Export oriented undertakings-Manufacture of article-Processing of iron ore amounts to manufacture-Entitle to exemption-Determination of market value required verification by the Revenue-The order of remand was justified. [S. 10B(7), 80IA (8), 80IA (10)]
Direct Tax Vivad Se Vishwas Act, 2020 .
S. 5 : Time and manner of payment – Declaration accepted and Form 3 issued specifying demand — Revocation of Form 3 without affording adequate opportunity to be heard — Principles of natural justice violated — Revocation of Form 3 is held to be not valid [ Art , 226 ]
Direct Tax Vivad Se Vishwas Act, 2020 .
S. 4: Filing of declaration and particulars to be furnished – Pendency of appeal – No classification of appeals under the Act – Interpretation of CBDT Circular excluding appeals from orders under Section 143 (1)) of the Act – Portion of circular in conflict with provisions of statute Held to be not valid [ S.143(1) Art , 226 ]
Direct Tax Vivad Se Vishwas Act, 2020 .
S. 3 :Amount payable by declarant – Credit for tax paid for correct year – Rectification of application – Rectification directed and credit of tax allowed .[ Art, 226 ]
Direct Tax Vivad Se Vishwas Act, 2020 .
S. 3 : Amount payable by declarant -Tribunal remanding the matter to Assessing Officer – High Court remanding the matter to Tribunal – Entitle to lower rate of disputed tax [ S. 5, ITAct , S. 253 , Art, 226 ]
Interpretation of taxing statutes – Precedent — Commissioner (Appeals) and Tribunal must follow decision of High Courts.
Interpretation of taxing statutes — Retrospective provision for the removal of doubts — Cannot be presumed to be retrospective if it alters or changes law as it stood- Ambiguity in language to be resolved in favour of assessee.
S. 268A : Appeal – Instructions – Monetary limits- Bogus long term capital gains – CBDT Circular No. 23/2019 dated 6-9-2019 and Office Memorandum No. 279 dated 16-09-2019 issued by CBDT – Apply prospectively – Dismissal of miscellaneous application by the Tribunal was held to be justified [ S. 254(2) , 260A ]
S. 254(2A): Appellate Tribunal –Stay- Delay in disposal of appeal is not attributable to assessee in any manner- Tribunal can grant extension of stay of demand beyond 365 days in deserving cases- No substantial question of law . [ S.260A]