S. 142(2A) : Inquiry before assessment-Special audit-Order must be communicated to the assessee-Order directing special audit never communicated to assessee-Assessment order not passed becoming barred by time-If special audit directed or ordered was communicated to the assessee, time for assessment further extended in terms of provisions. [Art. 226]
S. 119 : Central Board of Direct Taxes-Return-Delay of 33 days in filing of return-Application to Chief Commissioner-Refusal to condone the delay was not justified. [S. 119(2)(b), 139, Art. 226]
S. 115JB : Book profit-Provision for bad and doubtful debts-Amendment with Effect from 1-4-1998-Order of Tribunal for AY. 1998-99 following the Supreme Court decision for AY. 1997-98. The matter was remanded to Tribunal to consider the amendment. [S. 254(1), 260A]
S. 113 : Tax-Block assessment-Search cases-Surcharge-Not leviable on undisclosed income pertaining to a period prior to 1-6-2002. [S. 132, 158BD, 158BFA]
S. 80P : Co-operative societies-No finding on question whether the assessee is a primary society-Matter remanded to the Assessing Officer. [Tamil Nadu Co-operative Societies Act, 1983, S.2(21)]
S. 80IC : Special category States-Eligible business profits-Fluctuation of the rate of foreign exchange-Excise duty refund-Sale of scrap generated in the manufacturing process-Eligible for the deduction. [S. 10A, 56]
S. 80IBA : Profits and gains from housing projects-Constitutional Validity-Discrimination-Real estate developers-Timelines provided to start-up companies-No evidence of discrimination-Provision valid-Timelines could not be extended. [S. 80IAC, Art. 14, 226]
S. 69C : Unexplained expenditure-Bogus purchases-Books of account not rejected-Tribunal restricting the income at 6% of bogus purchases-No substantial question of law. [S. 260A]
S. 37(1) : Business expenditure-Corporate social responsibility expenditure-Expenditure for earlier years allowable as a deduction-CBDT Circular binding on the department.
S. 32 : Depreciation-Goodwill, Patent, Trade Mark and Intellectual Property Rights-Intangible assets-Entitled to depreciation-Trademark need not be registered in assessee’s name. [S. 32(1(ii)]