S. 4: Charge of income-tax-receipt of certain amount from Government-credited to Income and Expenditure Statement under head ‘grant-in-aid’ for establishment expenses-issue of specific Accounting Standard was not dealt with by the AO, matter was to be remanded back to inter alia verify receipt of income and method of accounting adopted for the same-Form No 10-Condonation of delay-If CBDT condone dely in filing Form No 10, the assessee would get consequential benefits under section 11(2) read with section 139(9) of the Act.[S. 11,(2), 139(9), 145]

S. 2(42A) : Short-term capital asset-Capital gains-land received consequent to liquidation of company-Period of holding of land-from date of previous owner i.e., company-Assessable as long term capital gains-The land received as a result of liquidation of company-Does not amount to transfer of any capital asset within meaning of S. 50C of the Act.[S. 45,46(2), 50C, 54F]

Direct Tax Vivad Se Vishwas Scheme, 2024 (2024) 467 ITR 1 (St)(63)

S. 89:Definitions-Appellant-Benefit of Vivad Se Vishwas Scheme, 2024 extended to those assesses in whose case the time for filing appeal has not expired as on 22 July 2024.[S.89(1)(a)) DTVSV Act, 2020, S. 2(1)(a), Art. 226]

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

S. 51: Punishment for willful attempt to evade tax-Failure to file return-Search-Prosecution not dependent on completion of assessment-Summing order is upheld-Alternative remedy-Writ petition is dismissed, [S. 10, 50, 51, Income.Tax Act 1961 S. 131(IA), 132, 139]

S. 281 : Certain transfers to be void-Writ-Recovery of tax-Attachment of property-Transfer of property-Validity-Assessee denying sale of attached property to petitioner-Transfer void ab initio-Tax Recovery Officer not required to declare sale as invalid-Petitioner given liberty to file Civil suit in Civil Court. [S. 220(6),, Sch II R.11 Art. 226]

S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Commissioner-Compounding of offence-Compounding application could not have been rejected on delay alone-Limitation-CBDT guidelines dated 16 November 2022.[S. 279(2), Art.226]

S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Commissioner-Certain categories of offences not to be compounded other than first offence-Wilful failure to file returns in due time-“First offence” as defined in Guidelines-Failure to file return before due date for assessment year 2013-2014 despite issue of notice for not filing in time for assessment year 2011-2012-Offence committed by assessee not first offence-Rejection of application in consonance with Guidelines; Guidelines for Compounding of Offences under Direct Tax Laws, 2008 (2015) 371 ITR 7 (St). [S. 139, 276CC279(2), Art. 226]

S. 276: Offences and prosecutions-Wilful attempt to evade tax-Delay in payment of tax does not amount to evasion of tax-Prosecution is not valid.[S. 276(2)]

S. 275: : Penalty-Bar of limitation-Failure to deduct tax at source-Survey-Notice for penalty after five years-The penalty order is barred by limitation if issued after the statutory time frame of six months from the end of the month in which penalty proceedings were initiated-Notice and penalty is unsustainable.m [S. 260A, 271C, 272A(2)(c) (k), 275(1)(c)]

S. 271C : Penalty-Failure to deduct at source-Curable defects-The penalty order for failure to deduct tax at source (TDS) is valid even if issued in the old name of the company after a name change, if the entity remains the same. [S. 260A, 272A(c) (k) 292B]