Volume 334 : Part 1 (Issue dated 30-5-2011)
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
Agreement for Avoidance of Double Taxation between India and Netherlands :
Art. 13(5) --Non-resident--Transferring shares held in Indian company to foreign company--Capital gains--Not taxable--But non-resident has to file tax return in India--Transfer pricing rules--Not attracted-- VNU International B.V. , In re (AAR) . . . 56
S. 32 --Return--Return of loss--Carry forward of unabsorbed depreciation--Sections 80 and 139(3) apply to business losses and not to unabsorbed depreciation governed by section 32(2)--Period of limitation for filing loss return not applicable for carrying forward of unabsorbed depreciation-- CIT v. Govind Nagar Sugar Ltd. (Delhi) . . . 13
S. 37 --Business expenditure--Commission--Assessing Officer making addition on ground transaction not genuine--Commission shown by company receiving it in return filed and tax paid--Matter remanded-- Pawan Kumar Jain v. CIT (Delhi) . . . 23
----Business expenditure--Provision for warranty liability--Actual expenditure more than provision--Provision not a contingent liability--Deductible-- Himalaya Machinery P. Ltd . v. Deputy CIT (Guj) . . . 64
S. 45 --Capital gains tax-- Goodyear Tire and Rubber Company, In re(AAR) . . . 69
----Non-resident--Foreign company holding 74 per cent. of paid up capital of Indian company--Proposal to contribute voluntarily entire 74 per cent. shares to Singapore based company without consideration--No capital gains--Foreign company not liable to tax in India--Transfer pricing rules not applicable-- Goodyear Tire and Rubber Company, In re (AAR) . . . 69
S. 48 --Capital gains tax-- Goodyear Tire and Rubber Company, In re(AAR) . . . 69
----Capital gains--Cost of acquisition--Land acquired by succession from ex-Ruler of Indian State who acquired it under instrument of annexation--Cost of acquisition in hands of previous owner not ascertainable--Cost of acquisition to be taken as market value as on 1-1-1954 or 1-1-1964 as the case may be-- CIT v. Raja Malwinder Singh [FB] (P&H) . . . 48
----Non-resident--Foreign company holding 74 per cent. of paid up capital of Indian company--Proposal to contribute voluntarily entire 74 per cent. shares to Singapore based company without consideration--No capital gains--Foreign company not liable to tax in India--Transfer pricing rules not applicable-- Goodyear Tire and Rubber Company, In re (AAR) . . . 69
S. 49 --Capital gains--Cost of acquisition--Land acquired by succession from ex-Ruler of Indian State who acquired it under instrument of annexation--Cost of acquisition in hands of previous owner not ascertainable--Cost of acquisition to be taken as market value as on 1-1-1954 or 1-1-1964 as the case may be-- CIT v. Raja Malwinder Singh [FB] (P&H) . . . 48
S. 55(2), (3) --Capital gains--Cost of acquisition--Land acquired by succession from ex-Ruler of Indian State who acquired it under instrument of annexation--Cost of acquisition in hands of previous owner not ascertainable--Cost of acquisition to be taken as market value as on 1-1-1954 or 1-1-1964 as the case may be-- CIT v. Raja Malwinder Singh [FB] (P&H) . . . 48
S. 80 --Return--Return of loss--Carry forward of unabsorbed depreciation--Sections 80 and 139(3) apply to business losses and not to unabsorbed depreciation governed by section 32(2)--Period of limitation for filing loss return not applicable for carrying forward of unabsorbed depreciation-- CIT v. Govind Nagar Sugar Ltd. (Delhi) . . . 13
S. 80HH --New industrial undertaking--Special deduction under sections 80HH and 80-I--Machinery purchased and installed in earlier accounting year--Assessee's undertaking not new--Not entitled to special deduction under sections 80HH and 80-I-- CIT v. Wipro Ltd . (Karn) . . . 6
S. 80-I --New industrial undertaking--Special deduction under sections 80HH and 80-I--Machinery purchased and installed in earlier accounting year--Assessee's undertaking not new--Not entitled to special deduction under sections 80HH and 80-I-- CIT v. Wipro Ltd . (Karn) . . . 6
Ss. 92 to 92F --Non-resident--Foreign company holding 74 per cent. of paid up capital of Indian company--Proposal to contribute voluntarily entire 74 per cent. shares to Singapore based company without consideration--No capital gains--Foreign company not liable to tax in India--Transfer pricing rules not applicable-- Goodyear Tire and Rubber Company, In re (AAR) . . . 69
----Non-resident--Transferring shares held in Indian company to foreign company--Capital gains--Not taxable--But non-resident has to file tax return in India--Transfer pricing rules--Not attracted-- VNU International B.V. , In re (AAR) . . . 56
----Transfer pricing rules-- Goodyear Tire and Rubber Company , In re(AAR) . . . 69
S. 139 --Non-resident--Transferring shares held in Indian company to foreign company--Capital gains--Not taxable--But non-resident has to file tax return in India--Transfer pricing rules--Not attracted-- VNU International B.V. , In re (AAR) . . . 56
----Return--Non-resident--Duty to file tax return-- VNU International B.V ., In re (AAR) . . . 56
S. 139(3) --Return--Return of loss--Carry forward of unabsorbed depreciation--Sections 80 and 139(3) apply to business losses and not to unabsorbed depreciation governed by section 32(2)--Period of limitation for filing loss return not applicable for carrying forward of unabsorbed depreciation-- CIT v. Govind Nagar Sugar Ltd. (Delhi) . . . 13
S. 147 --Reassessment--Notice--Limitation--Meaning of "issue"--Mere signing of notice is not sufficient--Date of issue would be date on which notice was handed over for service to proper officer--Notice for assessment year 2003-04 signed on 31-3-2010 and sent to speed post centre on 7-4-2010--Notice barred by limitation-- Kanubhai M. Patel (HUF) v. Hiren Bhatt or his successors to office (Guj) . . . 25
S. 148 --Reassessment--Notice--Limitation--Meaning of "issue"--Mere signing of notice is not sufficient--Date of issue would be date on which notice was handed over for service to proper officer--Notice for assessment year 2003-04 signed on 31-3-2010 and sent to speed post centre on 7-4-2010--Notice barred by limitation-- Kanubhai M. Patel (HUF) v. Hiren Bhatt or his successors to office (Guj) . . . 25
S. 149 --Reassessment--Notice--Limitation--Meaning of "issue"--Mere signing of notice is not sufficient--Date of issue would be date on which notice was handed over for service to proper officer--Notice for assessment year 2003-04 signed on 31-3-2010 and sent to speed post centre on 7-4-2010--Notice barred by limitation-- Kanubhai M. Patel (HUF) v. Hiren Bhatt or his successors to office (Guj) . . . 25
S. 191 --Advance tax--Interest--Income taxable under head "Salaries"--Sum liable to deduction of tax at source--Failure by person responsible for paying income to deduct and pay tax at source--Assessee liable to pay tax directly--Not liable to pay interest under section 234B-- Director of Income-tax v. Maersk Co. Ltd. [FB] (Uttarakhand) . . . 79
S. 192(1) --Advance tax--Interest--Income taxable under head "Salaries"--Sum liable to deduction of tax at source--Failure by person responsible for paying income to deduct and pay tax at source--Assessee liable to pay tax directly--Not liable to pay interest under section 234B-- Director of Income-tax v. Maersk Co. Ltd. [FB] (Uttarakhand) . . . 79
S. 195 --Deduction of tax at source-- Goodyear Tire and Rubber Company , In re(AAR) . . . 69
----Non-resident--Foreign company holding 74 per cent. of paid up capital of Indian company--Proposal to contribute voluntarily entire 74 per cent. shares to Singapore based company without consideration--No capital gains--Foreign company not liable to tax in India--Transfer pricing rules not applicable-- Goodyear Tire and Rubber Company, In re (AAR) . . . 69
S. 201(1A) --Advance tax--Interest--Income taxable under head "Salaries"--Sum liable to deduction of tax at source--Failure by person responsible for paying income to deduct and pay tax at source--Assessee liable to pay tax directly--Not liable to pay interest under section 234B-- Director of Income-tax v. Maersk Co. Ltd. [FB] (Uttarakhand) . . . 79
S. 226(3) --Recovery of tax--Attachment of property--Entire shareholding of assessee in company attached--High Court--Direction to restrict attachment to a part of shareholding-- Subuthi Finance Ltd. v. CIT (Mad) . . . 90
S. 234B --Advance tax--Interest--Income taxable under head "Salaries"--Sum liable to deduction of tax at source--Failure by person responsible for paying income to deduct and pay tax at source--Assessee liable to pay tax directly--Not liable to pay interest under section 234B-- Director of Income-tax v. Maersk Co. Ltd. [FB] (Uttarakhand) . . . 79
S. 264 --Revision--Limitation for filing petition--Condonation of delay--Assessee seeking revision for assessment year 1995-96 pursuant to orders in appeal for later years--Withdrawing its appeals to the Appellate Tribunal--Commissioner ought to have considered petition for condonation of delay liberally--Direction to consider revision petition as filed in time and dispose of it on merits-- Subuthi Finance Ltd. v. CIT (Mad) . . . 90
S. 271C(1)(a) --Deduction of tax at source--Non-resident--Payments made abroad to employees deputed to India--Failure to deduct tax at source--Penalty--Explanation that assessee was under bona fide belief that there was no liability to deduct taxes--Explanation not considered by Assessing Officer or appellate authorities--Matter remanded-- CIT v. Nissin Food Products Co. Ltd. (Karn) . . . 1
S. 272A(2)(c) --Deduction of tax at source--Non-resident--Payments made abroad to employees deputed to India--Failure to deduct tax at source--Penalty--Explanation that assessee was under bona fide belief that there was no liability to deduct taxes--Explanation not considered by Assessing Officer or appellate authorities--Matter remanded-- CIT v. Nissin Food Products Co. Ltd. (Karn) . . . 1
Sch. II, rr. 63, 65, 86 --Appeal to Commissioner--Appealable orders--Recovery of tax--Tax Recovery Officer confirming sale in recovery proceedings--Order confirming auction sale not conclusive--Appeal is maintainable-- Vijay Kumar Ruia v. CIT (All) . . . 38
----Appeal to Commissioner--Limitation--Whether runs from actual date of order or from date of service of order--Date of order to be construed to mean date of knowledge of order-- Vijay Kumar Ruia v. CIT (All) . . . 38
S. 2(5A) --Interest-tax--High Court--Reference--Appeal--Supreme Court --Matter remanded for determining the questions that arose, such as whether assessee "credit institution", and decide them-- Motor and General Finance Ltd . v. CIT (SC) . . . 33
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Interest-tax --High Court--Reference--Appeal--Supreme Court --Matter remanded for determining the questions that arose, such as whether assessee "credit institution", and decide them--Interest-tax Act, 1974, s. 2(5A)-- Motor and General Finance Ltd . v. CIT . . . 33
Advance tax --Interest--Income taxable under head "Salaries"--Sum liable to deduction of tax at source--Failure by person responsible for paying income to deduct and pay tax at source--Assessee liable to pay tax directly--Not liable to pay interest under section 234B--Income-tax Act, 1961, ss. 191, 192(1), 201(1A), 234B-- Director of Income-tax v. Maersk Co. Ltd. [FB] (Uttarakhand) . . . 79
Appeal to Commissioner --Appealable orders--Recovery of tax--Tax Recovery Officer confirming sale in recovery proceedings--Order confirming auction sale not conclusive--Appeal is maintainable--Income-tax Act, 1961, Sch. II, rr. 63, 65, 86-- Vijay Kumar Ruia v. CIT (All) . . . 38
----Limitation--Whether runs from actual date of order or from date of service of order--Date of order to be construed to mean date of knowledge of order--Income-tax Act, 1961, Sch. II, rr. 63, 65, 86-- Vijay Kumar Ruia v. CIT (All) . . . 38
Business expenditure --Commission--Assessing Officer making addition on ground transaction not genuine--Commission shown by company receiving it in return filed and tax paid--Matter remanded--Income-tax Act, 1961, s. 37-- Pawan Kumar Jain v. CIT (Delhi) . . . 23
----Provision for warranty liability--Actual expenditure more than provision--Provision not a contingent liability--Deductible--Income-tax Act, 1961, s. 37-- Himalaya Machinery P. Ltd . v. Deputy CIT (Guj) . . . 64
Capital gains --Cost of acquisition--Land acquired by succession from ex-Ruler of Indian State who acquired it under instrument of annexation--Cost of acquisition in hands of previous owner not ascertainable--Cost of acquisition to be taken as market value as on 1-1-1954 or 1-1-1964 as the case may be--Income-tax Act, 1961, ss. 48, 49, 55(2), (3)-- CIT v. Raja Malwinder Singh [FB] (P&H) . . . 48
Deduction of tax at source --Non-resident--Payments made abroad to employees deputed to India--Failure to deduct tax at source--Penalty--Explanation that assessee was under bona fide belief that there was no liability to deduct taxes--Explanation not considered by Assessing Officer or appellate authorities--Matter remanded--Income-tax Act, 1961, ss. 271C(1)(a), 272A(2)(c)-- CIT v. Nissin Food Products Co. Ltd. (Karn) . . . 1
New industrial undertaking --Special deduction under sections 80HH and 80-I--Machinery purchased and installed in earlier accounting year--Assessee's undertaking not new--Not entitled to special deduction under sections 80HH and 80-I--Income-tax Act, 1961, ss. 80HH, 80-I-- CIT v. Wipro Ltd . (Karn) . . . 6
Precedent --Effect of decision of Supreme Court in Bharat Earth Movers v. CIT [2000] 245 ITR 428-- Himalaya Machinery P. Ltd. v. Deputy CIT (Guj) . . . 64
Reassessment --Notice--Limitation--Meaning of "issue"--Mere signing of notice is not sufficient--Date of issue would be date on which notice was handed over for service to proper officer--Notice for assessment year 2003-04 signed on 31-3-2010 and sent to speed post centre on 7-4-2010--Notice barred by limitation--Income-tax Act, 1961, ss. 147, 148, 149-- Kanubhai M. Patel (HUF) v. Hiren Bhatt or his successors to office (Guj) . . . 25
Recovery of tax --Attachment of property--Entire shareholding of assessee in company attached--High Court--Direction to restrict attachment to a part of shareholding--Income-tax Act, 1961, s. 226(3)-- Subuthi Finance Ltd. v. CIT (Mad) . . . 90
Return --Return of loss--Carry forward of unabsorbed depreciation--Sections 80 and 139(3) apply to business losses and not to unabsorbed depreciation governed by section 32(2)--Period of limitation for filing loss return not applicable for carrying forward of unabsorbed depreciation--Income-tax Act, 1961, ss. 32, 80, 139(3)-- CIT v. Govind Nagar Sugar Ltd. (Delhi) . . . 13
Revision --Limitation for filing petition--Condonation of delay--Assessee seeking revision for assessment year 1995-96 pursuant to orders in appeal for later years--Withdrawing its appeals to the Appellate Tribunal--Commissioner ought to have considered petition for condonation of delay liberally--Direction to consider revision petition as filed in time and dispose of it on merits--Income-tax Act, 1961, s. 264-- Subuthi Finance Ltd. v. CIT (Mad) . . . 90
Words and phrases --"Issue", meaning of-- Kanubhai M. Patel (HUF) v. Hiren Bhatt or his successors to office (Guj) . . . 25
Capital gains tax --Income-tax Act, 1961, ss. 45, 48-- Goodyear Tire and Rubber Company, In re . . . 69
Deduction of tax at source --Income-tax Act, 1961, s. 195-- Goodyear Tire and Rubber Company , In re . . . 69
Non-resident --Foreign company holding 74 per cent. of paid up capital of Indian company--Proposal to contribute voluntarily entire 74 per cent. shares to Singapore based company without consideration--No capital gains--Foreign company not liable to tax in India--Transfer pricing rules not applicable--Income-tax Act, 1961, ss. 45, 48, 92 to 92F, 195-- Goodyear Tire and Rubber Company, In re . . . 69
----Transferring shares held in Indian company to foreign company--Capital gains--Not taxable--But non-resident has to file tax return in India--Transfer pricing rules--Not attracted--Income-tax Act, 1961, ss. 92 to 92F, 139--Agreement for Avoidance of Double Taxation between India and Netherlands, art. 13(5)-- VNU International B.V. , In re. . . 56
Return --Non-resident--Duty to file tax return--Income-tax Act, 1961, s. 139-- VNU International B.V ., In re . . . 56
Transfer pricing rules --Income-tax Act, 1961, ss. 92 to 92F-- Goodyear Tire and Rubber Company , In re . . . 69
ITR'S TRIBUNAL TAX REPORTS (ITR (TRIB))
Volume 9 : Part 5 (Issue dated : 30-05-2011)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Appeal to Commissioner (Appeals) --Appealable orders--Shipping--Non-resident --Order determining amount of tax under section 172(4)--Appealable--Income-tax Act, 1961, ss. 172(4), 246A(1)(a)-- ITO v. MSC Agency (India) P. Ltd. (Chennai) . . . 425
Business expenditure --Deduction on actual payment--Contribution to provident fund--To be allowed--Income-tax Act, 1961, s. 43B-- Effluent Channel Project Ltd. v. Asst. CIT (Ahmedabad) . . . 512
Capital gains --Short-term capital gains--Assessee acquiring 10 per cent. of shareholding in company at par value in exchange for shares in two companies also at par--Mauritius company acquiring 45 per cent. of shareholding in same company at premium --No proof that transactions were links in same chain--No proof that market value of shares at time of purchase by assessee was higher than price paid by him--Addition in assessee's hands taking price paid by Mauritius company as market value--Not on basis of valuation, net worth or market quotation but on presumption--Additions to be deleted--Income-tax Act, 1961, s. 45-- Athappan Nandakumar v. ITO (International Taxation) (Chennai) . . . 436
Capital or revenue expenditure --Consultancy charges--Tertiary treatment plant expansion of existing effluent treatment plant--No new asset acquired--To be allowed--Income-tax Act, 1961, s. 37-- Effluent Channel Project Ltd. v. Asst. CIT (Ahmedabad) . . . 512
Capital or revenue receipt --Assessee executing housing project--Collecting sum from every buyer towards flat owners association corpus fund--Not income in assessee's hands--Income-tax Act, 1961-- Asst. CIT v. Smt. C. Rajini (Chennai) . . . 487
----Assessee providing channel for disposal of effluents discharged by member-industries--One-time payment under user agreement by members--Receipt in advance for an obligation to be rendered in future--Income does not accrue in one year even though received in one year--Assessee justified in deferring revenue for taxation over five years--Income-tax Act, 1961-- Effluent Channel Project Ltd. v. Asst. CIT (Ahmedabad) . . . 512
----Assessee receiving consideration for using his name--Brand name to be treated as capital asset--Capital receipt--Income-tax Act, 1961, ss. 2(14), 55(2)(a)-- Asst. CIT v. S. P. Sambandam (Decd.) (Chennai) . . . 420
Charitable purposes --Charitable trust--Registration of charitable trust--Trust established in 1955--Trust granted exemption every year--Trust under belief that it had been registered under section 12A--Application for registration in May 2007--Trust entitled to registration w. e. f. 1-7-1973--Income-tax Act, 1961, s. 12A--Circular No. 115, dated 30-6-1973-- Church of Our Lady of Grace v. CIT (Mumbai) . . . 505
Deemed dividend --Assessee director in two companies holding substantial shareholding in both--Transfer of sum from one company to another at instance of assessee--Assessee having substantial credit balance with company--Not a loan or deposit--Not a case of deemed dividend--Income-tax Act, 1961, s. 2(22)(e)-- Asst. CIT v. Smt. C. Rajini (Chennai) . . . 487
Housing project --Special deduction--Assessee, a property developer paying full consideration to land owner and building housing project--All work in connection with project done by assessee--Assessee de facto owner of land--Deduction not to be denied--Income-tax Act, 1961, s. 80-IB(10)-- Asst. CIT v. Smt. C. Rajini (Chennai) . . . 487
----Special deduction--Car parking area--Not to be included in reckoning permissible area of residential unit--Income-tax Act, 1961, s. 80-IB(10)-- Asst. CIT v. Smt. C. Rajini (Chennai) . . . 487
Income from undisclosed sources --Amounts claimed to be gifts--Genuineness of gifts not proved--Identity of donors not established--Amount assessable as income from undisclosed sources--Income-tax Act, 1961-- Deputy CIT v. Alok Gautam (Lucknow) . . . 462
Penalty --Concealment of income--Entire addition deleted--Levying of penalty not proper--Income-tax Act, 1961, s. 271(1)(c)-- Effluent Channel Project Ltd. v. Asst. CIT (Ahmedabad) . . . 512
Reassessment --Notice--Condition precedent--Satisfaction of Assessing Officer that income has escaped assessment--Direction by appellate authority to issue notice--By itself will not confer jurisdiction on Assessing Officer to issue notice--Income-tax Act, 1961, ss. 143(2), 148-- M. B. Traders v. Asst. CIT (Nagpur) . . . 453
Revision --Commissioner--Disallowance on estimate basis after examining manufacturing and profit and loss account--Commissioner doubting disallowance and directing Assessing Officer to frame fresh assessment--Relevant issue considered on basis of material on record--Order not prejudicial to interests of Revenue--Income-tax Act, 1961, s. 263-- Roshan Lal Vegetable Products P. Ltd. v. ITO (Amritsar) . . . 431
Shipping --Non-resident--Assessment under section 44B--Section 172(4) had no application--Department accepting 42 out of 48 voyages in same financial year and on identical facts--Commissioner justified in following earlier order--Non-furnishing of DIT relief certificate before Assessing Officer--Curable defect--Commissioner justified in cancelling demand under section 172(4)--Income-tax Act, 1961, ss. 44B, 172(4)-- ITO v. MSC Agency (India) P. Ltd. (Chennai) . . . 425
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
S. 2(14) --Capital or revenue receipt--Assessee receiving consideration for using his name--Brand name to be treated as capital asset--Capital receipt-- Asst. CIT v. S. P. Sambandam (Decd.) (Chennai) . . . 420
S. 2(22)(e) --Deemed dividend--Assessee director in two companies holding substantial shareholding in both--Transfer of sum from one company to another at instance of assessee--Assessee having substantial credit balance with company--Not a loan or deposit--Not a case of deemed dividend-- Asst. CIT v. Smt. C. Rajini (Chennai) . . . 487
S. 12A --Charitable purposes--Charitable trust--Registration of charitable trust--Trust established in 1955--Trust granted exemption every year--Trust under belief that it had been registered under section 12A--Application for registration in May 2007--Trust entitled to registration w. e. f. 1-7-1973--Circular No. 115, dated 30-6-1973-- Church of Our Lady of Grace v. CIT (Mumbai) . . . 505
S. 37 --Capital or revenue expenditure--Consultancy charges--Tertiary treatment plant expansion of existing effluent treatment plant--No new asset acquired--To be allowed-- Effluent Channel Project Ltd. v. Asst. CIT (Ahmedabad) . . . 512
S. 43B --Business expenditure--Deduction on actual payment--Contribution to provident fund--To be allowed-- Effluent Channel Project Ltd. v. Asst. CIT (Ahmedabad) . . . 512
S. 44B --Shipping--Non-resident--Assessment under section 44B--Section 172(4) had no application--Department accepting 42 out of 48 voyages in same financial year and on identical facts--Commissioner justified in following earlier order--Non-furnishing of DIT relief certificate before Assessing Officer--Curable defect--Commissioner justified in cancelling demand under section 172(4)-- ITO v. MSC Agency (India) P. Ltd. (Chennai) . . . 425
S. 45 --Capital gains--Short-term capital gains--Assessee acquiring 10 per cent. of shareholding in company at par value in exchange for shares in two companies also at par--Mauritius company acquiring 45 per cent. of shareholding in same company at premium--No proof that transactions were links in same chain--No proof that market value of shares at time of purchase by assessee was higher than price paid by him--Addition in assessee's hands taking price paid by Mauritius company as market value--Not on basis of valuation, net worth or market quotation but on presumption--Additions to be deleted-- Athappan Nandakumar v. ITO (International Taxation) (Chennai) . . . 436
S. 55(2)(a) --Capital or revenue receipt--Assessee receiving consideration for using his name--Brand name to be treated as capital asset--Capital receipt-- Asst. CIT v. S. P. Sambandam (Decd.) (Chennai) . . . 420
S. 80-IB(10) --Housing project--Special deduction--Assessee, a property developer paying full consideration to land owner and building housing project--All work in connection with project done by assessee--Assessee de facto owner of land--Deduction not to be denied-- Asst. CIT v. Smt. C. Rajini (Chennai) . . . 487
----Housing project--Special deduction--Car parking area--Not to be included in reckoning permissible area of residential unit-- Asst. CIT v. Smt. C. Rajini (Chennai) . . . 487
S. 143(2) --Reassessment--Notice--Condition precedent--Satisfaction of Assessing Officer that income has escaped assessment--Direction by appellate authority to issue notice--By itself will not confer jurisdiction on Assessing Officer to issue notice-- M. B. Traders v. Asst. CIT (Nagpur) . . . 453
S. 148 --Reassessment--Notice--Condition precedent--Satisfaction of Assessing Officer that income has escaped assessment--Direction by appellate authority to issue notice--By itself will not confer jurisdiction on Assessing Officer to issue notice-- M. B. Traders v. Asst. CIT (Nagpur) . . . 453
S. 172(4) --Appeal to Commissioner (Appeals)--Appealable orders--Shipping--Non-resident --Order determining amount of tax under section 172(4)--Appealable-- ITO v. MSC Agency (India) P. Ltd. (Chennai) . . . 425
----Shipping--Non-resident--Assessment under section 44B--Section 172(4) had no application--Department accepting 42 out of 48 voyages in same financial year and on identical facts--Commissioner justified in following earlier order--Non-furnishing of DIT relief certificate before Assessing Officer--Curable defect--Commissioner justified in cancelling demand under section 172(4)-- ITO v. MSC Agency (India) P. Ltd. (Chennai) . . . 425
S. 246A(1)(a) --Appeal to Commissioner (Appeals)--Appealable orders--Shipping--Non-resident --Order determining amount of tax under section 172(4)--Appealable-- ITO v. MSC Agency (India) P. Ltd. (Chennai) . . . 425
S. 263 --Revision--Commissioner--Disallowance on estimate basis after examining manufacturing and profit and loss account--Commissioner doubting disallowance and directing Assessing Officer to frame fresh assessment--Relevant issue considered on basis of material on record--Order not prejudicial to interests of Revenue-- Roshan Lal Vegetable Products P. Ltd. v. ITO (Amritsar) . . . 431
S. 271(1)(c) --Penalty--Concealment of income--Entire addition deleted--Levying of penalty not proper-- Effluent Channel Project Ltd. v. Asst. CIT (Ahmedabad) . . . 512
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