INCOME TAX REPORTS (ITR)
Volume 339 : Part 1 (Issue dated 28-11-2011)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
SUPREME COURT
Fundamental rights --Double taxation avoidance--Prohibition on disclosure of
documents--Scope of--Information relating to unaccounted monies held in
secret bank accounts outside India--How far to be divulged--Balance between
fundamental right of citizen to seek information and fundamental right of
privacy of account holder--Names of those where no presumption of wrongdoing
not to be divulged--Constitution of India, arts. 19, 21, 32--Double Taxation
Avoidance Agreement between India and Germany, art. 26-- Ram Jethmalani v.
Union of India . . . 107
HIGH COURTS
Appeal to High Court --Grounds not raised before Assessing Officer or
Tribunal cannot be raised for first time before High Court--Income-tax Act,
1961, s. 260A-- Alok Todi v. CIT (Cal) . . . 102
Bad debt --Leasing and money-lending business--Assessee standing guarantee
for loan--Default by creditor--Amount written off--Deductible--Deposit for
allotment of shares--Deposit earning interest--Shares not issued and deposit
not returned--Amount deductible as bad debt--Income-tax Act, 1961, s. 36--
CIT v. Tulip Star Hotels Ltd .
(Delhi) . . . 91
Business expenditure --Amortisation of preliminary expenses--Expenditure on
issue of shares--Matter remanded to find whether assessee was an industrial
undertaking--Income-tax Act, 1961, s. 35D-- CIT v. Tulip Star Hotels Ltd.
(Delhi) . . . 91
Business income --Remission or cessation of trading liability--Waiver of
loan taken for purchase of capital asset--Not in revenue field--Loan written
off in cash credit account--Taxable income--Income-tax Act, 1961, s. 41(1)--
Rollatainers Ltd . v. CIT
(Delhi) . . . 54
Depreciation --Goodwill--Valuation of--Assessee purchasing a loss-making
company--Assessing Officer holding 10 per cent. of purchase price represents
goodwill on trade name--Finding of Assessing Officer without any
basis--Assessing Officer not justified in deducting 10 per cent. towards
estimated value on goodwill--Income-tax Act, 1961-- CIT v. India Cements Ltd
. (Mad) . . . 31
Industrial undertaking --Special deduction--Interest received from trade
debtors--Entitled to deduction--Interest earned on fixed deposit
receipts--Not entitled to deduction--Assessee not entitled to set off
interest received against interest paid--Duty drawback and amount received
on sale of DEPB and QBAL licences--Not entitled to deduction--Income-tax
Act, 1961-- CIT v. Advance Detergents Ltd .
(Delhi) . . . 81
----Special deduction--Interest--Interest received on overdue payments for
goods supplied--Is income derived from business of industrial
undertaking--Entitled to deduction--Income-tax Act, 1961, s. 80-IA-- CIT v.
Advance Detergents Ltd .
(Delhi) . . . 81
Interest-tax --Charge of tax--Loan or advance--Tests--Intercorporate
deposits--Not in nature of loan or advances--Not chargeable to
tax--Interest-tax Act, 1974, ss. 2(7), 5-- CIT v. Visisth Chay Vypapar Ltd .
(Delhi) . . . 157
Interpretation of taxing statutes --Loan--Strict interpretation-- CIT v.
Visisth Chay Vypapar Ltd. (Delhi) . . . 157
New industrial undertaking --Special deduction under section 80HH--Unit
located at backward area, independent unit and profit making--Receipts on
job work done at unit qualify for deduction--Assessee entitled to special
deduction--Income-tax Act, 1961, s. 80HH-- Sundaram Fasteners Ltd . v. CIT
(Mad) . . . 40
Non-resident --Concessional rate of tax--Foreign exchange
asset--Definition--Interest earned on deposits of sums brought from
abroad--Not a foreign exchange asset--Interest on redeposited interest--Not
entitled to benefit under section 115H--Income-tax Act, 1961, ss. 115C,
115H-- Dr. M. Manohar v. Asst. CIT
(Mad) . . . 49
----Income deemed to accrue or arise in India--No part of research and
development activities carried out in India--Global profits attributed to
activities in India--No further setting off for research and development
activities--Income-tax Act, 1961-- Rolls Royce PLC v. Director of
Income-tax, International Taxation (Delhi) . . . 147
----Permanent establishment--Office in India rendering services--Office in
India a business connection--Finding that assessee's income chargeable to
tax in India under section 5(2) and business connection in India according
section 9(1)(i)--Assessee has permanent establishment in India--Double
Taxation Avoidance Agreement between India and the United
Kingdom--Income-tax Act, 1961, ss. 5(2), 9(1)(i)-- Rolls Royce PLC v.
Director of Income-tax, International Taxation
(Delhi) . . . 147
Reassessment --Transfer of case--No order of transfer--Assessment in
Kolkata--Notice for reassessment by Assessing Officer of Delhi--Not
valid--Income-tax Act, 1961, ss. 127, 148-- Smt. Smriti Kedia v. Union of
India (Cal) . . . 37
Rectification of mistakes --Condition precedent--Mistake should be apparent
on record--Failure to charge interest under sections 234B and 234C before
allowing credit for minimum alternate tax--Debatable question--Interest
could not be levied in rectification proceedings--Income-tax Act, 1961, ss.
154, 234B, 234C-- CIT v. Bilag Industries P. Ltd . (Guj) . . . 46
Revision --Commissioner--Industrial undertaking--Special deduction under
section 80-I--Small scale industrial undertaking--Notice of revision not
taking into account certificate granted by State Government--Not
valid--Income-tax Act, 1961, ss. 80-I, 263-- SJ and SP Family Trust, through
Trustee Ashokkumar Prahladbhai v. CIT
(Guj) . . . 34
Search and seizure --Block assessment--Return not submitted in response to
notice under section 158BC--Best judgment assessment valid--Income-tax Act,
1961, ss. 158BB, 158BC-- Alok Todi v. CIT (Cal) . . . 102
----Block assessment--Undisclosed income--Admission by assessee--Subsequent
death of assessee--Legal representatives could not retract
admission--Assessment based on admission--Justified--Income shown in return
filed after search--Not undisclosed income--No evidence of benami
purchase--Value of purchase not assessable--Material not found during
search--Additions based on such material--Not valid--Capital gains on sale
of shares--Not undisclosed income--Income-tax Act, 1961, ss. 158BC, 159--
CIT v. Late H. R. Basavaraj (Karn) . . . 63
Special deductions --Computation of special deductions--Effect of section
80A--Nil total income after setting off unabsorbed business losses--Special
deductions under sections 80-I, 80-IA, 80HH and 80HHD could not be
given--Income-tax Act, 1961, ss. 80A, 80B, 80HH, 80HHD, 80-I, 80-IA-- CIT v.
Arif Industries Ltd . (All) . . . 6
Unexplained investment --Difference between amount shown in sale deed and
that in agreement for sale--No evidence to show reduction in consideration
paid--Addition of difference justified--Findings of fact--Income-tax Act,
1961, s. 69-- Bela Juneja v. CIT (Delhi) . . . 144
Valuation of property --Cost of construction--Undervaluation of closing
stock of work-in-progress--Apportionment of cost not done by valid
method--Matter remanded--Income-tax Act, 1961-- CIT v. Lord Buildcons P. Ltd
.
(Delhi) . . . 1
Words and phrases --"Loan"--Meaning of-- CIT v. Visisth Chay Vypapar Ltd .
(Delhi) . . . 157
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
Constitution of India :
Arts. 19, 21, 32 --Fundamental rights--Double taxation
avoidance--Prohibition on disclosure of documents--Scope of--Information
relating to unaccounted monies held in secret bank accounts outside
India--How far to be divulged--Balance between fundamental right of citizen
to seek information and fundamental right of privacy of account
holder--Names of those where no presumption of wrongdoing not to be
divulged-- Ram Jethmalani v. Union of India (SC) . . . 107
Double Taxation Avoidance Agreement between India and Germany :
Art. 26 --Fundamental rights--Double taxation avoidance--Prohibition on
disclosure of documents--Scope of--Information relating to unaccounted
monies held in secret bank accounts outside India--How far to be
divulged--Balance between fundamental right of citizen to seek information
and fundamental right of privacy of account holder--Names of those where no
presumption of wrongdoing not to be divulged-- Ram Jethmalani v. Union of
India (SC) . . . 107
Income-tax Act, 1961 :
S. 5(2) --Non-resident--Permanent establishment--Office in India rendering
services--Office in India a business connection--Finding that assessee's
income chargeable to tax in India under section 5(2) and business connection
in India according section 9(1)(i)--Assessee has permanent establishment in
India--Double Taxation Avoidance Agreement between India and the United
Kingdom-- Rolls Royce PLC v. Director of Income-tax, International Taxation
(Delhi) . . . 147
S. 9(1)(i) --Non-resident--Permanent establishment--Office in India
rendering services--Office in India a business connection--Finding that
assessee's income chargeable to tax in India under section 5(2) and business
connection in India according section 9(1)(i)--Assessee has permanent
establishment in India--Double Taxation Avoidance Agreement between India
and the United Kingdom-- Rolls Royce PLC v. Director of Income-tax,
International Taxation (Delhi) . . . 147
S. 35D --Business expenditure--Amortisation of preliminary
expenses--Expenditure on issue of shares--Matter remanded to find whether
assessee was an industrial undertaking-- CIT v. Tulip Star Hotels Ltd.
(Delhi) . . . 91
S. 36 --Bad debt--Leasing and money-lending business--Assessee standing
guarantee for loan--Default by creditor--Amount written
off--Deductible--Deposit for allotment of shares--Deposit earning
interest--Shares not issued and deposit not returned--Amount deductible as
bad debt-- CIT v. Tulip Star Hotels Ltd .
(Delhi) . . . 91
S. 41(1) --Business income--Remission or cessation of trading
liability--Waiver of loan taken for purchase of capital asset--Not in
revenue field--Loan written off in cash credit account--Taxable income--
Rollatainers Ltd . v. CIT (Delhi) . . . 54
S. 69 --Unexplained investment--Difference between amount shown in sale deed
and that in agreement for sale--No evidence to show reduction in
consideration paid--Addition of difference justified--Findings of fact--
Bela Juneja v. CIT
(Delhi) . . . 144
S. 80A --Special deductions--Computation of special deductions--Effect of
section 80A--Nil total income after setting off unabsorbed business
losses--Special deductions under sections 80-I, 80-IA, 80HH and 80HHD could
not be given-- CIT v. Arif Industries Ltd . (All) . . . 6
S. 80B --Special deductions--Computation of special deductions--Effect of
section 80A--Nil total income after setting off unabsorbed business
losses--Special deductions under sections 80-I, 80-IA, 80HH and 80HHD could
not be given-- CIT v. Arif Industries Ltd . (All) . . . 6
S. 80HH --New industrial undertaking--Special deduction under section
80HH--Unit located at backward area, independent unit and profit
making--Receipts on job work done at unit qualify for deduction--Assessee
entitled to special deduction-- Sundaram Fasteners Ltd . v. CIT (Mad) . . .
40
----Special deductions--Computation of special deductions--Effect of section
80A--Nil total income after setting off unabsorbed business losses--Special
deductions under sections 80-I, 80-IA, 80HH and 80HHD could not be given--
CIT v. Arif Industries Ltd . (All) . . . 6
S. 80HHD --Special deductions--Computation of special deductions--Effect of
section 80A--Nil total income after setting off unabsorbed business
losses--Special deductions under sections 80-I, 80-IA, 80HH and 80HHD could
not be given-- CIT v. Arif Industries Ltd . (All) . . . 6
S. 80-I --Revision--Commissioner--Industrial undertaking--Special deduction
under section 80-I--Small scale industrial undertaking--Notice of revision
not taking into account certificate granted by State Government--Not valid--
SJ and SP Family Trust, through Trustee Ashokkumar Prahladbhai v. CIT (Guj)
. . . 34
----Special deductions--Computation of special deductions--Effect of section
80A--Nil total income after setting off unabsorbed business losses--Special
deductions under sections 80-I, 80-IA, 80HH and 80HHD could not be given--
CIT v. Arif Industries Ltd . (All) . . . 6
S. 80-IA --Industrial undertaking--Special deduction--Interest--Interest
received on overdue payments for goods supplied--Is income derived from
business of industrial undertaking--Entitled to deduction-- CIT v. Advance
Detergents Ltd .
(Delhi) . . . 81
----Special deductions--Computation of special deductions--Effect of section
80A--Nil total income after setting off unabsorbed business losses--Special
deductions under sections 80-I, 80-IA, 80HH and 80HHD could not be given--
CIT v. Arif Industries Ltd . (All) . . . 6
S. 115C --Non-resident--Concessional rate of tax--Foreign exchange
asset--Definition--Interest earned on deposits of sums brought from
abroad--Not a foreign exchange asset--Interest on redeposited interest--Not
entitled to benefit under section 115H-- Dr. M. Manohar v. Asst. CIT (Mad) .
. . 49
S. 115H --Non-resident--Concessional rate of tax--Foreign exchange
asset--Definition--Interest earned on deposits of sums brought from
abroad--Not a foreign exchange asset--Interest on redeposited interest--Not
entitled to benefit under section 115H-- Dr. M. Manohar v. Asst. CIT (Mad) .
. . 49
S. 127 --Reassessment--Transfer of case--No order of transfer--Assessment in
Kolkata--Notice for reassessment by Assessing Officer of Delhi--Not valid--
Smt. Smriti Kedia v. Union of India (Cal) . . . 37
S. 148 --Reassessment--Transfer of case--No order of transfer--Assessment in
Kolkata--Notice for reassessment by Assessing Officer of Delhi--Not valid--
Smt. Smriti Kedia v. Union of India (Cal) . . . 37
S. 154 --Rectification of mistakes--Condition precedent--Mistake should be
apparent on record--Failure to charge interest under sections 234B and 234C
before allowing credit for minimum alternate tax--Debatable
question--Interest could not be levied in rectification proceedings-- CIT v.
Bilag Industries P. Ltd . (Guj) . . . 46
S. 158BB --Search and seizure--Block assessment--Return not submitted in
response to notice under section 158BC--Best judgment assessment valid--
Alok Todi v. CIT (Cal) . . . 102
S. 158BC --Search and seizure--Block assessment--Return not submitted in
response to notice under section 158BC--Best judgment assessment valid--
Alok Todi v. CIT (Cal) . . . 102
----Search and seizure--Block assessment--Undisclosed income--Admission by
assessee--Subsequent death of assessee--Legal representatives could not
retract admission--Assessment based on admission--Justified--Income shown in
return filed after search--Not undisclosed income--No evidence of benami
purchase--Value of purchase not assessable--Material not found during
search--Additions based on such material--Not valid--Capital gains on sale
of shares--Not undisclosed income-- CIT v. Late H. R. Basavaraj (Karn) . . .
63
S. 159 --Search and seizure--Block assessment--Undisclosed income--Admission
by assessee--Subsequent death of assessee--Legal representatives could not
retract admission--Assessment based on admission--Justified--Income shown in
return filed after search--Not undisclosed income--No evidence of benami
purchase--Value of purchase not assessable--Material not found during
search--Additions based on such material--Not valid--Capital gains on sale
of shares--Not undisclosed income-- CIT v. Late H. R. Basavaraj (Karn) . . .
63
S. 234B --Rectification of mistakes--Condition precedent--Mistake should be
apparent on record--Failure to charge interest under sections 234B and 234C
before allowing credit for minimum alternate tax--Debatable
question--Interest could not be levied in rectification proceedings-- CIT v.
Bilag Industries P. Ltd . (Guj) . . . 46
S. 234C --Rectification of mistakes--Condition precedent--Mistake should be
apparent on record--Failure to charge interest under sections 234B and 234C
before allowing credit for minimum alternate tax--Debatable
question--Interest could not be levied in rectification proceedings-- CIT v.
Bilag Industries P. Ltd . (Guj) . . . 46
S. 260A --Appeal to High Court--Grounds not raised before Assessing Officer
or Tribunal cannot be raised for first time before High Court-- Alok Todi v.
CIT (Cal) . . . 102
S. 263 --Revision--Commissioner--Industrial undertaking--Special deduction
under section 80-I--Small scale industrial undertaking--Notice of revision
not taking into account certificate granted by State Government--Not valid--
SJ and SP Family Trust, through Trustee Ashokkumar Prahladbhai v. CIT (Guj)
. . . 34
Interest-tax Act, 1974 :
Ss. 2(7), 5 --Interest-tax--Charge of tax--Loan or
advance--Tests--Intercorporate deposits--Not in nature of loan or
advances--Not chargeable to tax-- CIT v. Visisth Chay Vypapar Ltd . (Delhi)
. . . 157
ITR'S TRIBUNAL TAX REPORTS (ITR (TRIB))
Volume 12 : Part 5 (Issue dated : 28-11-2011)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Business expenditure --Disallowance--Expenses on conveyance, tea, coffee,
etc.--Assessee producing vouchers--Vouchers containing details of
expenses--Expenditure to be allowed--Income-tax Act, 1961-- ITO v. Pragati
Fashions (Ahmedabad) . . . 444
----Disallowance--Interest paid more than net income of assessee--Receipt
and utilisation of deposits explained--Not to be disallowed--Income-tax Act,
1961, ss. 36(1) (iii), 40A(2)(b)-- ITO v. Pragati Fashions (Ahmedabad) . . .
444
----Interest on borrowed funds and legal and professional expenses--Expenses
incurred towards purchase of land to be developed over period of
time--Expenses to be treated as work-in-progress--Assessee not eligible for
deduction in current year--Income-tax Act, 1961-- M. B. Agritech P. Ltd. v.
Deputy CIT (Delhi) . . . 423
Business income --Deduction of tax at source--Difference between income
shown in TDS certificates and that credited in profit and loss
account--Difference duly reconciled by assessee--Deduction of tax at source
does not determine year of taxability of income shown in TDS
certificate--Addition rightly deleted by Commissioner (Appeals)--Income-tax
Act, 1961-- ITO v. Sikka International Freight Services P. Ltd. (Delhi) . .
. 476
Charitable purposes --Exemption--Commissioner (Appeals) not adjudicating
upon violations under sections 11, 13(1)(b) and (c)--Matter
remanded--Income-tax Act, 1961, ss. 11, 13(1)(b), (c)-- Deputy CIT
(Exemptions) v. Paramartha Bhooshanam Sri Nathella Sampathu Chetty Charities
(Chennai) . . . 457
Depreciation --Plant--Air terminal--Revision--Tribunal remitting matter to
Assessing Officer to determine whether terminal with all its assets as a
whole, plant--Assessee filing technical report with list of
assets--Assessing Officer on basis thereof deciding terminal is plant--Order
cannot be revised--Commissioner not entitled to call for further
report--Income-tax Act, 1961, s. 263-- Airports Authority of India v. CIT
(Delhi) . . . 482
Income from undisclosed sources --Addition based on suppression of gross
profit and job charges not credited to books of account--Consideration of
consumption of electricity, gas, coal and diesel in particular month for
holding suppression of production--Assessee engaged in processing of fabrics
which depends upon various factors and not mere usage of electricity
--Addition to be deleted--Income-tax Act, 1961-- ITO v. Pragati Fashions
(Ahmedabad) . . . 444
Penalty --Failure to comply with notice under section 143(2)--Assessee not
receiving notice due to change of address--Reasonable cause--Penalty to be
deleted--Income-tax Act, 1961, ss. 271(1)(b), 273B-- Balram Kumar Mahendra
v. ITO (Delhi) . . . 426
----Furnishing inaccurate particulars of income--Failure on part of
Assessing Officer to point out inaccuracy in particulars filed by assessee
in comparison with accurate particulars--Mere non acceptance of claim to
deduction of expenditure not an inference of false claim--Explanation 1(A)
to section 271(1)(c) not applicable--No records evidencing explanation not
bona fide and material fact undisclosed by assessee--Explanation 1(B) cannot
be invoked--No case for levy of penalty--Income-tax Act, 1961, s. 271(1)(c),
Expln. 1(B)-- Dholu Construction and Projects Ltd. v. ITO (Ahmedabad) . . .
438
Reassessment --Direction by Commissioner (Appeals) while allowing appeal
from block assessment to reopen assessments for years in question--Assessing
Officer making reassessment under direction of Commissioner
(Appeals)--Assessing Officer not fulfilling ingredients of section
147--Reassessment proceedings to be quashed--Income-tax Act, 1961, s. 147--
Asst. CIT v. Radheshyam Mohanlal Maheshwari (Ahmedabad) . . . 429
----Reason to believe--Difference between receipts as per TDS certificate
and receipts as per profit and loss account--Specific information for
formation of rational belief that income has escaped
assessment--Reassessment valid--Income-tax Act, 1961, ss. 147, 148-- ITO v.
Sikka International Freight Services P. Ltd. (Delhi) . . . 476
Revision --Exemption--Income from warehousing--Airports Authority of
India--Income from warehousing and cargo complexes--Direction of Tribunal to
re-examine matter applying appropriate law and determine whether assessee
was running or establishing "warehouses" or "cargo complexes"--Order of
Assessing Officer allowing exemption--Assessing Officer alive to facts and
law--Order not erroneous or prejudicial to Revenue--Not liable to
revision--Exempt--Income-tax Act, 1961, ss. 10(29), 263-- Airports Authority
of India v. CIT (Delhi) . . . 482
Search and seizure --Block assessment--Penalty--Undisclosed income--Failure
by assessee to file return--Penalty rightly imposed--Income-tax Act, 1961,
s. 158BFA(2)-- Smt. Madhuben R. Barot v. Asst. CIT (Ahmedabad) . . . 465
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
Income-tax Act, 1961 :
S. 10(29) --Revision--Exemption--Income from warehousing--Airports Authority
of India--Income from warehousing and cargo complexes--Direction of Tribunal
to re-examine matter applying appropriate law and determine whether assessee
was running or establishing "warehouses" or "cargo complexes"--Order of
Assessing Officer allowing exemption--Assessing Officer alive to facts and
law--Order not erroneous or prejudicial to Revenue--Not liable to
revision--Exempt-- Airports Authority of India v. CIT (Delhi) . . . 482
S. 11 --Charitable purposes--Exemption--Commissioner (Appeals) not
adjudicating upon violations under sections 11, 13(1)(b) and (c)--Matter
remanded-- Deputy CIT (Exemptions) v. Paramartha Bhooshanam Sri Nathella
Sampathu Chetty Charities (Chennai) . . . 457
S. 13(1)(b), (c) --Charitable purposes--Exemption--Commissioner (Appeals)
not adjudicating upon violations under sections 11, 13(1)(b) and (c)--Matter
remanded-- Deputy CIT (Exemptions) v. Paramartha Bhooshanam Sri Nathella
Sampathu Chetty Charities (Chennai) . . . 457
S. 36(1)(iii) --Business expenditure--Disallowance--Interest paid more than
net income of assessee--Receipt and utilisation of deposits explained--Not
to be disallowed -- ITO v. Pragati Fashions (Ahmedabad) . . . 444
S. 40A(2)(b) --Business expenditure--Disallowance--Interest paid more than
net income of assessee--Receipt and utilisation of deposits explained--Not
to be disallowed -- ITO v. Pragati Fashions (Ahmedabad) . . . 444
S. 147 --Reassessment--Direction by Commissioner (Appeals) while allowing
appeal from block assessment to reopen assessments for years in
question--Assessing Officer making reassessment under direction of
Commissioner (Appeals)--Assessing Officer not fulfilling ingredients of
section 147--Reassessment proceedings to be quashed-- Asst. CIT v.
Radheshyam Mohanlal Maheshwari (Ahmedabad) . . . 429
----Reassessment--Reason to believe--Difference between receipts as per TDS
certificate and receipts as per profit and loss account--Specific
information for formation of rational belief that income has escaped
assessment--Reassessment valid-- ITO v. Sikka International Freight Services
P. Ltd. (Delhi) . . . 476
S. 148 --Reassessment--Reason to believe--Difference between receipts as per
TDS certificate and receipts as per profit and loss account--Specific
information for formation of rational belief that income has escaped
assessment--Reassessment valid-- ITO v. Sikka International Freight Services
P. Ltd. (Delhi) . . . 476
S. 158BFA(2) --Search and seizure--Block assessment--Penalty--Undisclosed
income--Failure by assessee to file return--Penalty rightly imposed-- Smt.
Madhuben R. Barot v. Asst. CIT (Ahmedabad) . . . 465
S. 263 --Revision--Exemption--Income from warehousing--Airports Authority of
India--Income from warehousing and cargo complexes--Direction of Tribunal to
re-examine matter applying appropriate law and determine whether assessee
was running or establishing "warehouses" or "cargo complexes"--Order of
Assessing Officer allowing exemption--Assessing Officer alive to facts and
law--Order not erroneous or prejudicial to Revenue--Not liable to
revision--Exempt-- Airports Authority of India v. CIT (Delhi) . . . 482
-- --Depreciation--Plant--Air terminal--Revision--Tribunal remitting matter
to Assessing Officer to determine whether terminal with all its assets as a
whole, plant--Assessee filing technical report with list of
assets--Assessing Officer on basis thereof deciding terminal is plant--Order
cannot be revised--Commissioner not entitled to call for further report--
Airports Authority of India v. CIT (Delhi) . . . 482
----Revision--Exemption--Income from warehousing--Airports Authority of
India --Income from warehousing and cargo comp-lexes--Direction of Tribunal
to re-examine matter applying appropriate law and determine whether assessee
was running or establishing "warehouses" or "cargo complexes"--Order of
Assessing Officer allowing exemption--Assessing Officer alive to facts and
law--Order not erroneous or prejudicial to Revenue--Not liable to
revision--Exempt-- Airports Authority of India v. CIT (Delhi) . . . 482
S. 271(1)(b) --Penalty--Failure to comply with notice under section
143(2)--Assessee not receiving notice due to change of address--Reasonable
cause--Penalty to be deleted-- Balram Kumar Mahendra v. ITO (Delhi) . . .
426
S. 271(1)(c) , Expln. 1(B) --Penalty--Furnishing inaccurate particulars of
income--Failure on part of Assessing Officer to point out inaccuracy in
particulars filed by assessee in comparison with accurate particulars--Mere
non acceptance of claim to deduction of expenditure not an inference of
false claim--Explanation 1(A) to section 271(1)(c) not applicable--No
records evidencing explanation not bona fide and material fact undisclosed
by assessee--Explanation 1(B) cannot be invoked--No case for levy of
penalty-- Dholu Construction and Projects Ltd. v. ITO (Ahmedabad) . . . 438
S. 273B --Penalty--Failure to comply with notice under section
143(2)--Assessee not receiving notice due to change of address--Reasonable
cause--Penalty to be deleted-- Balram Kumar Mahendra v. ITO (Delhi) . . .
426
