S. 127: Power to transfer cases-Transfer of case from Coimbatore to Kolkata where the search was conducted-The incriminating documents seized had a direct link to Petitioner’s business hence the transfer of the case was justified.[S.132, Art. 226]

S. 119: Central Board of Direct Taxes-Circulars Condonation of delay-Charitable or religious trust-Delay in filing Form 9A due to change in procedure.[S.11(6), 119(2), Form Noo.9A, Art.226]

S. 119: Central Board of Direct Taxes-Circulars-Condonation of delay-Delay of two days in filing the Return of income for Assessment Year 2021-22-Delay is condoned.[S.115BAA, 139, Form No 10-IC, Art.226]

S. 119: Central Board of Direct Taxes-Circulars-Condonation of delay in filing returns within due date-Delay on account of ill health of spouse of Chartered Accountant-Reasonable cause-Delay is condoned. [S.119(2)(b),139, Art. 226]

S. 119 : Central Board of Direct Taxes-Circular-Condonation of delay of 18 days in filing of return-Beyond control of assessee-CBDT’s Circular No. 13/2023 dt. 26–07–2023-Delay in filing return of income is condoned. [S.80AC(ii) 80P(2) (a)(i), 119(2)(b), 139(1), 143(1),143(3), Art. 226]

S. 80P: Co-operative societies-Deduction-Surplus profit earned from the business of providing credit facilities to the members kept in the bank-Interest income earned therefrom is eligible for deduction under section 80P of the Act.[S.80P(2)(a),80P(2)(d)]

S. 69 : Unexplained investments-Bogus purchases-Red flagged by the Sales Tax Department –Quantity tally-No defects in the books of account-No disallowance warranted without bringing on record any other evidence to prove that the purchases made by assessee were not genuine-Order of Tribunal deleting the addition is affirmed. [S.68]

S. 68 : Cash credits-Gift from third parties-Genuineness of gifts had not been proved-Preponderance of probability-Order of Tribunal is affirmed. [S. 260A]

S. 43A : Rate of exchange-Foreign currency –Capital or revenue-Tribunal allowed foreign exchange losses towards the loan taken for acquisition of assets within India-However, Tribunal failed to analyze whether the expenditure in question could not be regarded as capital expenditure-Matter was to be remanded to Tribunal for fresh consideration. [S. 37(1), 260A].

S. 40A(9) : Expenses or payments not deductible-Bonus to employees-Business expenditure-Contribution to employees welfare trust-Community services-Payments under a Memorandum of Settlement with the trade union-Expenditure not covered by Section 30 to Section 36, and expenditure made for purposes of business shall be allowed as business expenditure. [S. 37(1), 30 to 36]