Wealth-tax Act, 1957

S. 2(ea): Valuation of asset – Immoveable property – Lessee sub-leasing property for higher rent and receiving deposit- Value Of Property declared by assessee was correct fair market value as on the relevant valuation date — Amount paid by lessee was not assessable as income of assesse. [ S. 5, 7 , Wealth-tax Rules, 1957 ]

Wealth-tax Act, 1957
S.2(ea):Assets- Remand to Assessing Officer by Tribunal on question of valuation, issue stating that the lands not includible in net wealth cannot be raised , matter remanded . [ S.24(5) ]

Interest-Tax Act, 1974

S. 2(5B)( vi): Financial Company — Finance Charges such as interest received from hire purchase transactions and other Interest was held to chargeable to tax .[ S.8(2) ]

Income Declaration Scheme, 2016 (IDS)

S. 183: Payment of tax – Failure to pay third instalment – Rejection of application was held to be justified- Old age and ill health or forgetfulness to make payment and the assesse was 70 years age cannot be the ground to extension of time for payment of third instalment . [ S. 119(2) ]

Gift Tax Act, 1958
S. 16: Reassessment-Deemed Gift —No conclusive finding rendered by Appellate Tribunal on question of notional or deemed gift — Order was set aside [ S. 4(1)(a) ]

S. 279 : Offences and prosecutions – Compounding of offences – Guidelines on compounding of offenses dated 23.12.2014 prescribing eligibility conditions and the formula for calculating the compounding fee are valid or unreasonable [ S. 276 ,277, 278 ]

S. 279 : Offences and prosecutions – Compounding Of Offences — Guidelines fixing compounding fees was held to be valid Application For Compounding twenty years after assessment order and after framing of criminal charges — Determination of compounding fees was held to be valid . Assessee was directed to pay cost of Rs 50000 /.

S. 279 : Offences and prosecutions – Sanction – Chief Commissioner – Late deposit of tax deducted at source – If sanctioning was held to be not as requirement of law summons issued by the Court can be challenged .[ S.276A, 276B 278AA, 278AB,278B, Code of Criminal Procedure Code , S 397, 401, 482 ]

S. 276C : Offences and prosecutions – Wilful attempt to evade tax Order of penalty was set aside on ground there was no concealment of income — Prosecution was liable to be quashed. [ S. 271(1) (c ) ]

S. 275 : Penalty – Bar of limitation – Concealment-Time to Be reckoned from date of service of order of Commissioner (Appeals) on Assessee — Penalty proceedings was barred by limitation [ S. 271(1) (c )]