S. 11 : Property held for charitable purposes-Accumulation of income-Revenue cannot insist on a copy of resolution being furnished regarding amount being accumulated for charitable activities. [S. 11(2), R. 17(2), Form No.10]

S. 4 : Charge of income-tax-Transfer of rights-Value of any benefit or perquisites-Business income-Transfer is genuine-Set off credit-No evidence-Deletion of addition is valid. [S. 28(iv)]

S. 2(22)(e) : Deemed dividend-Advances to directors-Joint owner of property-Advance to be adjusted for sale consideration-Matter remanded to the Tribunal for reconsideration. [S. 254(1)]

S. 2(22)(e) : Deemed dividend-Unsecured loan from company-Partner of firm shareholder-Dividend is taxable in hands of Individual and not in the name of firm-Remand by the Tribunal is set aside. [S. 254(1)]

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

S.50: Punishment for failure to furnish return of income –Information about an asset – located outside India – Punishment for wilful attempt to evade tax – Foreign asset – Prosecution – Pendency of appeal before CIT(A) – Criminal provision of sections 50 and 51 could not have a retrospective effect – Stay of criminal proceedings- Notice was issued to Advocate General regarding petition filed by petitioner and stay granted earlier to be extended till next date of hearing . [ S. 51 , Income -tax Act , 1961 , S.276C , Art . 226 ]

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

S. 41 :Penalty in relation to undisclosed foreign income and asset – Penalty for failure to furnish in return of income, an information or furnish inaccurate particulars about an asset (including financial interest in any entity) located outside India -Pendency of appeal – Directed to hear the assessee and pass the order after considering the submission of the assessee . [ S. 15, 42 , 43 , Art. 226 ]

S. 40(a)(i) : Amounts not deductible – Deduction at source -Non-resident – Reimbursement of mobilisation and demobilisation costs to a foreign company – Subsequently the foreign company was held liable to tax in India – Not liable to deduct tax at source – Cannot be treated as assessee -in -default – DTAA -India – Netherlands .[ S. 9(1)(vi), 195, Art. 12, Art. 136 ]

S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Where the alleged escaped income is below the prescribed monetary threshold of Rs.50 lakhs, the period of limitation as stipulated under Clause (a) of Sub-section (1) of Section 149 of the 1961 Act would be applicable- The period prescribed under the said Clause is three (03) years from the end of the relevant assessment year – Reopening notices dated 30.6.2021 and 28.06.2021 issued were held to be barred by limitation . [ S. 148 , 148A(b) , 148A(d), 149(1))(a) , Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, S. 3 , Art .142 , 226 ]