INCOME TAX REPORTS (ITR)--PRINT AND ONLINE EDITION
SUBJECT INDEX TO CASES REPORTED
Appeal to Appellate Tribunal --Duty of Tribunal--Duty to consider every fact and give a reasoned finding of fact--Income-tax Act, 1961, s. 254-- CIT v. Commercial Motors Finance Ltd. (All) . . . 405
Industrial undertaking --Special deduction under sections 80HH and 80-I--Computation of special deduction--Interest on delayed payments from customers--Income from industrial undertaking--Interest to be taken into account while computing deductions--Income-tax Act, 1961, ss. 80HH, 80-I-- CIT v. Jindal Polyester and Steel Ltd. (All) . . . 393
Interest-tax --Charge of tax--Difference between hire-purchase transaction and financing transaction--Hire-purchase agreement for vehicle--Evidence that hirer was the real purchaser and assessee financed the transaction--Excess amount paid to financier chargeable as interest--Interest-tax Act, 1974, ss. 2(5), (7), 4(2)--CBDT Circular Nos. 738 and 760-- CIT v. Commercial Motors Finance Ltd. (All) . . . 405
Precedent --Effect of Supreme Court decision in Sundaram Finance Ltd. v. State of Kerala [1966] AIR 1966 SC 1178-- CIT v. Commercial Motors Finance Ltd. (All) . . . 405
ITR Volume 363 : Part 4 (Issue dated : 19-5-2014)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Charitable purpose --Registration of trusts--Reassessment--Writ--High Court while dismissing writ petition against reassessment proceedings making observations against assessee-trust and directing fresh proceedings for cancellation of registration of trust--Special leave petition--Supreme Court--Observation and direction not justified--Observations and direction deleted--Income-tax Act, 1961, s. 12AA(3)-- Fateh Chand Charitable Trust v. CIT . . . 677
Discrimination --Loss--Carry forward and set off--Provision permitting carry forward and set off of losses in case of amalgamation of companies--That similar provision not made in respect of co-operative societies--Not discriminatory--Companies and co-operative societies belong to different classes--Constitution of India, art. 14--Income-tax Act, 1961, ss. 72, 72A-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT . . . 564
Interest --Interest on refund--General principles-- Union of India v. Tata Chemicals Ltd. . . . 658
Interpretation of taxing statutes --Strict construction-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT . . . 564
----Words to be construed in ordinary sense--Object of legislation to be ascertained-- Union of India v. Tata Chemicals Ltd. . . . 658
Loss --Carry forward and set off--Co-operative society--Amalgamation of co-operative societies--Registration of amalgamating societies cancelled upon amalgamation--Accumulated losses of amalgamating co-operative societies cannot be carried forward to be set off against profits of amalgamated co-operative society--Income-tax Act, 1961, ss. 72, 72A--Rajasthan Co-operative Societies Act, 1965, s. 16(8)-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT . . . 564
----Carry forward and set off--Only in accordance with specific provision therefor-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT . . . 564
Refund --Interest on refund--Substantive right of assessee and statutory obligation of State--Law after 1989--Deduction of tax at source--Payment to non-resident--Withholding of tax in accordance with special order of Assessing Officer upon application by deductor and deposit in Government account--Refund to deductor pursuant to order in appeal holding part of remittance not income--Refund to carry interest from date of payment of tax--Income-tax Act, 1961, ss. 156, 195(2), 240, 244, 244A-- Union of India v. Tata Chemicals Ltd. . . . 658
Representative assessee --Trust--Assessment of beneficiary--Discretionary trust--What is--Merely because settlor did not exercise power to appoint discretion-exercisers character of trust not affected--Discretionary trust executed in U. K. for beneficiaries in India--Income not distributed to beneficiaries in relevant accounting years--Income from trusts not assessable in hands of beneficiaries in India--Income-tax Act, 1961, s. 166-- CWT v. Estate of Late HMM Vikramsinhji of Gondal . . . 679
Wealth-tax --Trust--Discretionary trust executed in U. K. for beneficiaries in India--Income not distributed to beneficiaries in relevant accounting years--Value of assets not assessable on estate of deceased settlor--Wealth-tax Act, 1957-- CWT v. Estate of Late HMM Vikramsinhji of Gondal . . . 679
Appeals --Competency of appeal--Monetary limits for appeals by Department--Instructions Nos. 5 of 2008 and 3 of 2011--Not applicable to pending appeals--Appeals filed prior to dates in instructions--Governed by instructions prevailing on date of presentation of such appeals and not barred--Instruction No. 5 of 2008, dated 15-5-2008--Instruction No. 3 of 2011, dated 9-2-2011--Income-tax Act, 1961, s. 268A-- CIT v. Shambhubhai Mahadev Ahir [FB] (Guj) . . . 572
Appeal to High Court --Competency of appeal--Monetary ceiling limit--Measure for reducing litigation--Instruction No. 3 of 2011 raising monetary limits--Applicable to pending cases--Instruction No. 3 of 2011, dated 9-2-2011--Income-tax Act, 1961, ss. 260A, 268A--CIT v. Sureshchandra Durgaprasad Khatod (HUF) (Guj) . . . 556
----Substantial question of law--Tribunal following its earlier view and on facts in relation to same assessee--Consistent view on finding of fact--No substantial question of law--Income-tax Act, 1961, s. 260A-- CIT v. Deepak Fertilizers and Petrochemicals Corporation Ltd. (Bom) . . . 484
Business expenditure --Accrued or contingent liability--Deduction only on actual payment--Condition precedent for deduction--Liability should be ascertained--Provision for contingent liability--Not deductible--Bank guarantee does not amount to payment within the meaning of section 43B--Assessee purchasing raw material from importers--Agreement that assessee would discharge liability of importers to customs duty--Levy of additional customs duty challenged by importers--Supreme Court directing stay of major portion of additional customs duty provided importers furnished bank guarantee--Importers giving bank guarantee--Counter guarantee furnished in consequence by assessee--Not an ascertained statutory liability to pay additional customs duty but only a contractual liability--Amount of bank guarantee--Not deductible--Income-tax Act, 1961, ss. 37, 43B-- Oswal Agro Mills Ltd. v. CIT (Delhi) . . . 486
----Current repairs--Construction of building for business purpose on leasehold land--Possession of property continuing after expiry of lease period--Written down value and cost of construction as current repairs not allowable--Income-tax Act, 1961, s. 31-- Coastal Resorts (India) Ltd. v. Asst. CIT (Ker) . . . 482
Business loss --Loss due to devaluation of Indian rupee--Loss deductible--Income-tax Act, 1961, s. 28-- Oswal Agro Mills Ltd. v. CIT (Delhi) . . . 486
Export --Special deduction under section 80HHC--Law applicable--Effect of amendment made by Taxation Laws (Amendment) Act, 2005--Special deduction not available in respect of profits on transfer of DEPB and DFRC--Income-tax Act, 1961, s. 80HHC-- Mentha and Allied Products Ltd. v. Union of India (All) . . . 504
Income from house property --Business--Business income or income from house property--Meaning of “owner†of property--Law applicable--Effect of amendment of section 269UA w. e. f. 1-4-1988--Owner of land entering into agreement for development of land--Assessee allotted office space on lease for thirty-three years with option of five consecutive renewals--Assessee owner of office space--Amount earned from sub-letting office space--Assessable as income from house property--Income-tax Act, 1961, ss. 22, 23, 28, 269UA-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
Interpretation of taxing statutes --Literal interpretation-- CIT v. Shambhubhai Mahadev Ahir [FB] (Guj) . . . 572
Legislative powers --Parliament--Discrimination--Export--Special deduction under section 80HHC--Constitutional validity of provisions--Amendment of section 80HHC by Taxation Laws (Amendment) Act, 2005, with retrospective effect from 1-4-1998--Amendment within legislative competence of Parliament--Classification of assessees with export turnover of over ten crores of rupees and those with export turnover less than ten crores of rupees reasonable--Amendment not violative of article 14 or 19 of Constitution--Amendment not hit by doctrine of promissory estoppel--Presumption of validity of legislation not rebutted--Amendment with retrospective effect valid--Income-tax Act, 1961, s. 80HHC--Constitution of India, arts. 14, 19-- Mentha and Allied Products Ltd. v. Union of India (All) . . . 504
Reassessment --Notice--Condition precedent--Reason to believe income has escaped assessment--Reason must be based on new and tangible materials--Assessment after considering documents impounded during income-tax survey--Notice based on same documents--Not valid--Income-tax Act, 1961, ss. 147, 148-- CIT v. Vardhman Industries (Raj) . . . 625
----Notice--Validity--Effect of order under section 143(1)--Return on the basis that income was assessable as business income--Return processed under section 143(1) and intimation issued--Material to form reasonable opinion that income was assessable as income from house property--Reassessment proceedings--Valid--Income-tax Act, 1961, ss. 143, 147, 148-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
----Notice--Validity to be considered with reference to reasons recorded while issuing notice--Income-tax Act, 1961, ss. 147, 148-- NDT Systems v. ITO (Bom) . . . 603
----Notice after four years--Validity--Failure to disclose material facts necessary for assessment--Assessee entering into offshore service contracts and offshore supply contracts--Claim that income from offshore supply contracts was not assessable--Claim considered and accepted--Notice after four years to assess such income--Not valid--Income-tax Act, 1961, ss. 147, 148-- Atomstroyexport v. Deputy Director of Income-tax (International Taxation) (Bom) . . . 612
----Notice within four years--Condition precedent--Tangible material for reason to believe income had escaped assessment--Disallowance of expenditure for non-deduction of tax at source--No new material discovered--Notice to increase disallowance on the ground that payments made constituted fees for technical services--Notice not valid--Income-tax Act, 1961, ss. 147, 148-- NDT Systems v. ITO (Bom) . . . 603
Search and seizure --Block assessment--Assessment of third person--Notice--Validity--Incriminating material relating to assessee discovered during search of third person--Information forwarded to Assessing Officer having jurisdiction over assessee--Notice under section 158BD--Valid--Income-tax Act, 1961, s. 158BD-- CIT v. Vinayak Plasto Chem P. Ltd. (Raj) . . . 596
----Block assessment--Undisclosed income--Seizure of project report--No evidence that work was done as per project--Addition of amount based on project report--Not justified--Income-tax Act, 1961, s. 69-- CIT v. Vinayak Plasto Chem P. Ltd. (Raj) . . . 596
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
Art. 14 --Discrimination--Loss--Carry forward and set off--Provision permitting carry forward and set off of losses in case of amalgamation of companies--That similar provision not made in respect of co-operative societies--Not discriminatory--Companies and co-operative societies belong to different classes-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT (SC). . . 564
----Legislative powers--Parliament--Discrimination--Export--Special deduction under section 80HHC--Constitutional validity of provisions--Amendment of section 80HHC by Taxation Laws (Amendment) Act, 2005, with retrospective effect from 1-4-1998--Amendment within legislative competence of Parliament--Classification of assessees with export turnover of over ten crores of rupees and those with export turnover less than ten crores of rupees reasonable--Amendment not violative of article 14 or 19 of Constitution--Amendment not hit by doctrine of promissory estoppel--Presumption of validity of legislation not rebutted--Amendment with retrospective effect valid-- Mentha and Allied Products Ltd. v. Union of India (All) . . . 504
Art. 19 --Legislative powers--Parliament--Discrimination--Export--Special deduction under section 80HHC--Constitutional validity of provisions--Amendment of section 80HHC by Taxation Laws (Amendment) Act, 2005, with retrospective effect from 1-4-1998--Amendment within legislative competence of Parliament--Classification of assessees with export turnover of over ten crores of rupees and those with export turnover less than ten crores of rupees reasonable--Amendment not violative of article 14 or 19 of Constitution--Amendment not hit by doctrine of promissory estoppel--Presumption of validity of legislation not rebutted--Amendment with retrospective effect valid-- Mentha and Allied Products Ltd. v. Union of India (All) . . . 504
S. 12AA(3) --Charitable purpose--Registration of trusts--Reassessment--Writ--High Court while dismissing writ petition against reassessment proceedings making observations against assessee-trust and directing fresh proceedings for cancellation of registration of trust--Special leave petition--Supreme Court--Observation and direction not justified--Observations and direction deleted-- Fateh Chand Charitable Trust v. CIT (SC). . . 677
S. 22 --Income from house property--Business--Business income or income from house property--Meaning of “owner†of property--Law applicable--Effect of amendment of section 269UA w. e. f. 1-4-1988--Owner of land entering into agreement for development of land--Assessee allotted office space on lease for thirty-three years with option of five consecutive renewals--Assessee owner of office space--Amount earned from sub-letting office space--Assessable as income from house property-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
S. 23 --Income from house property--Business--Business income or income from house property--Meaning of “owner†of property--Law applicable--Effect of amendment of section 269UA w. e. f. 1-4-1988--Owner of land entering into agreement for development of land--Assessee allotted office space on lease for thirty-three years with option of five consecutive renewals--Assessee owner of office space--Amount earned from sub-letting office space--Assessable as income from house property-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
S. 28 --Business loss--Loss due to devaluation of Indian rupee--Loss deductible-- Oswal Agro Mills Ltd. v. CIT (Delhi) . . . 486
----Income from house property--Business--Business income or income from house property--Meaning of “owner†of property--Law applicable--Effect of amendment of section 269UA w. e. f. 1-4-1988--Owner of land entering into agreement for development of land--Assessee allotted office space on lease for thirty-three years with option of five consecutive renewals--Assessee owner of office space--Amount earned from sub-letting office space--Assessable as income from house property-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
S. 31 --Business expenditure--Current repairs--Construction of building for business purpose on leasehold land--Possession of property continuing after expiry of lease period--Written down value and cost of construction as current repairs not allowable-- Coastal Resorts (India) Ltd. v. Asst. CIT (Ker) . . . 482
S. 37 --Business expenditure--Accrued or contingent liability--Deduction only on actual payment--Condition precedent for deduction--Liability should be ascertained--Provision for contingent liability--Not deductible--Bank guarantee does not amount to payment within the meaning of section 43B--Assessee purchasing raw material from importers--Agreement that assessee would discharge liability of importers to customs duty--Levy of additional customs duty challenged by importers--Supreme Court directing stay of major portion of additional customs duty provided importers furnished bank guarantee--Importers giving bank guarantee--Counter guarantee furnished in consequence by assessee--Not an ascertained statutory liability to pay additional customs duty but only a contractual liability--Amount of bank guarantee--Not deductible-- Oswal Agro Mills Ltd. v. CIT (Delhi) . . . 486
S. 43B --Business expenditure--Accrued or contingent liability--Deduction only on actual payment--Condition precedent for deduction--Liability should be ascertained--Provision for contingent liability--Not deductible--Bank guarantee does not amount to payment within the meaning of section 43B--Assessee purchasing raw material from importers--Agreement that assessee would discharge liability of importers to customs duty--Levy of additional customs duty challenged by importers--Supreme Court directing stay of major portion of additional customs duty provided importers furnished bank guarantee--Importers giving bank guarantee--Counter guarantee furnished in consequence by assessee--Not an ascertained statutory liability to pay additional customs duty but only a contractual liability--Amount of bank guarantee--Not deductible-- Oswal Agro Mills Ltd. v. CIT (Delhi) . . . 486
S. 69 --Search and seizure--Block assessment--Undisclosed income--Seizure of project report--No evidence that work was done as per project--Addition of amount based on project report--Not justified-- CIT v. Vinayak Plasto Chem P. Ltd. (Raj) . . . 596
S. 72 --Discrimination--Loss--Carry forward and set off--Provision permitting carry forward and set off of losses in case of amalgamation of companies--That similar provision not made in respect of co-operative societies--Not discriminatory--Companies and co-operative societies belong to different classes-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT (SC). . . 564
----Loss--Carry forward and set off--Co-operative society--Amalgamation of co-operative societies--Registration of amalgamating societies cancelled upon amalgamation--Accumulated losses of amalgamating co-operative societies cannot be carried forward to be set off against profits of amalgamated co-operative society-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT (SC). . . 564
S. 72A --Discrimination--Loss--Carry forward and set off--Provision permitting carry forward and set off of losses in case of amalgamation of companies--That similar provision not made in respect of co-operative societies--Not discriminatory--Companies and co-operative societies belong to different classes-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT (SC). . . 564
----Loss--Carry forward and set off--Co-operative society--Amalgamation of co-operative societies--Registration of amalgamating societies cancelled upon amalgamation--Accumulated losses of amalgamating co-operative societies cannot be carried forward to be set off against profits of amalgamated co-operative society-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT (SC). . . 564
S. 80HHC --Export--Special deduction under section 80HHC--Law applicable--Effect of amendment made by Taxation Laws (Amendment) Act, 2005--Special deduction not available in respect of profits on transfer of DEPB and DFRC-- Mentha and Allied Products Ltd. v. Union of India (All) . . . 504
----Legislative powers--Parliament--Discrimination--Export--Special deduction under section 80HHC--Constitutional validity of provisions--Amendment of section 80HHC by Taxation Laws (Amendment) Act, 2005, with retrospective effect from 1-4-1998--Amendment within legislative competence of Parliament--Classification of assessees with export turnover of over ten crores of rupees and those with export turnover less than ten crores of rupees reasonable--Amendment not violative of article 14 or 19 of Constitution--Amendment not hit by doctrine of promissory estoppel--Presumption of validity of legislation not rebutted--Amendment with retrospective effect valid-- Mentha and Allied Products Ltd. v. Union of India (All) . . . 504
S. 143 --Reassessment--Notice--Validity--Effect of order under section 143(1)--Return on the basis that income was assessable as business income--Return processed under section 143(1) and intimation issued--Material to form reasonable opinion that income was assessable as income from house property--Reassessment proceedings--Valid-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
S. 147 --Reassessment--Notice--Condition precedent--Reason to believe income has escaped assessment--Reason must be based on new and tangible materials--Assessment after considering documents impounded during income-tax survey--Notice based on same documents--Not valid-- CIT v. Vardhman Industries (Raj) . . . 625
----Reassessment--Notice--Validity--Effect of order under section 143(1)--Return on the basis that income was assessable as business income--Return processed under section 143(1) and intimation issued--Material to form reasonable opinion that income was assessable as income from house property--Reassessment proceedings--Valid-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
----Reassessment--Notice--Validity to be considered with reference to reasons recorded while issuing notice-- NDT Systems v. ITO (Bom) . . . 603
----Reassessment--Notice within four years--Condition precedent--Tangible material for reason to believe income had escaped assessment--Disallowance of expenditure for non-deduction of tax at source--No new material discovered--Notice to increase disallowance on the ground that payments made constituted fees for technical services--Notice not valid-- NDT Systems v. ITO (Bom) . . . 603
----Reassessment--Notice after four years--Validity--Failure to disclose material facts necessary for assessment--Assessee entering into offshore service contracts and offshore supply contracts--Claim that income from offshore supply contracts was not assessable--Claim considered and accepted--Notice after four years to assess such income--Not valid-- Atomstroyexport v. Deputy Director of Income-tax (International Taxation) (Bom) . . . 612
S. 148 --Reassessment--Notice--Condition precedent--Reason to believe income has escaped assessment--Reason must be based on new and tangible materials--Assessment after considering documents impounded during income-tax survey--Notice based on same documents--Not valid-- CIT v. Vardhman Industries (Raj) . . . 625
----Reassessment--Notice--Validity--Effect of order under section 143(1)--Return on the basis that income was assessable as business income--Return processed under section 143(1) and intimation issued--Material to form reasonable opinion that income was assessable as income from house property--Reassessment proceedings--Valid-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
----Reassessment--Notice--Validity to be considered with reference to reasons recorded while issuing notice-- NDT Systems v. ITO (Bom) . . . 603
----Reassessment--Notice within four years--Condition precedent--Tangible material for reason to believe income had escaped assessment--Disallowance of expenditure for non-deduction of tax at source--No new material discovered--Notice to increase disallowance on the ground that payments made constituted fees for technical services--Notice not valid-- NDT Systems v. ITO (Bom) . . . 603
----Reassessment--Notice after four years--Validity--Failure to disclose material facts necessary for assessment--Assessee entering into offshore service contracts and offshore supply contracts--Claim that income from offshore supply contracts was not assessable--Claim considered and accepted--Notice after four years to assess such income--Not valid-- Atomstroyexport v. Deputy Director of Income-tax (International Taxation) (Bom) . . . 612
S. 156 --Refund--Interest on refund--Substantive right of assessee and statutory obligation of State--Law after 1989--Deduction of tax at source--Payment to non-resident--Withholding of tax in accordance with special order of Assessing Officer upon application by deductor and deposit in Government account--Refund to deductor pursuant to order in appeal holding part of remittance not income--Refund to carry interest from date of payment of tax-- Union of India v. Tata Chemicals Ltd. (SC). . . 658
S. 158BD --Search and seizure--Block assessment--Assessment of third person--Notice--Validity--Incriminating material relating to assessee discovered during search of third person--Information forwarded to Assessing Officer having jurisdiction over assessee--Notice under section 158BD--Valid-- CIT v. Vinayak Plasto Chem P. Ltd. (Raj) . . . 596
S. 166 --Representative assessee--Trust--Assessment of beneficiary--Discretionary trust--What is--Merely because settlor did not exercise power to appoint discretion-exercisers character of trust not affected--Discretionary trust executed in U. K. for beneficiaries in India--Income not distributed to beneficiaries in relevant accounting years--Income from trusts not assessable in hands of beneficiaries in India-- CWT v. Estate of Late HMM Vikramsinhji of Gondal (SC). . . 679
S. 195(2) --Refund--Interest on refund--Substantive right of assessee and statutory obligation of State--Law after 1989--Deduction of tax at source--Payment to non-resident--Withholding of tax in accordance with special order of Assessing Officer upon application by deductor and deposit in Government account--Refund to deductor pursuant to order in appeal holding part of remittance not income--Refund to carry interest from date of payment of tax-- Union of India v. Tata Chemicals Ltd. (SC). . . 658
S. 240 --Refund--Interest on refund--Substantive right of assessee and statutory obligation of State--Law after 1989--Deduction of tax at source--Payment to non-resident--Withholding of tax in accordance with special order of Assessing Officer upon application by deductor and deposit in Government account--Refund to deductor pursuant to order in appeal holding part of remittance not income--Refund to carry interest from date of payment of tax-- Union of India v. Tata Chemicals Ltd. (SC). . . 658
S. 244 --Refund--Interest on refund--Substantive right of assessee and statutory obligation of State--Law after 1989--Deduction of tax at source--Payment to non-resident--Withholding of tax in accordance with special order of Assessing Officer upon application by deductor and deposit in Government account--Refund to deductor pursuant to order in appeal holding part of remittance not income--Refund to carry interest from date of payment of tax-- Union of India v. Tata Chemicals Ltd. (SC). . . 658
S. 244A --Refund--Interest on refund--Substantive right of assessee and statutory obligation of State--Law after 1989--Deduction of tax at source--Payment to non-resident--Withholding of tax in accordance with special order of Assessing Officer upon application by deductor and deposit in Government account--Refund to deductor pursuant to order in appeal holding part of remittance not income--Refund to carry interest from date of payment of tax-- Union of India v. Tata Chemicals Ltd. (SC). . . 658
S. 260A --Appeal to High Court--Competency of appeal--Monetary ceiling limit--Measure for reducing litigation--Instruction No. 3 of 2011 raising monetary limits--Applicable to pending cases--Instruction No. 3 of 2011, dated 9-2-2011--CIT v. Sureshchandra Durgaprasad Khatod (HUF) (Guj) . . . 556
----Appeal to High Court--Substantial question of law--Tribunal following its earlier view and on facts in relation to same assessee--Consistent view on finding of fact--No substantial question of law-- CIT v. Deepak Fertilizers and Petrochemicals Corporation Ltd. (Bom) . . . 484
S. 268A --Appeals--Competency of appeal--Monetary limits for appeals by Department--Instructions Nos. 5 of 2008 and 3 of 2011--Not applicable to pending appeals--Appeals filed prior to dates in instructions--Governed by instructions prevailing on date of presentation of such appeals and not barred--Instruction No. 5 of 2008, dated 15-5-2008--Instruction No. 3 of 2011, dated 9-2-2011-- CIT v. Shambhubhai Mahadev Ahir [FB] (Guj) . . . 572
----Appeal to High Court--Competency of appeal--Monetary ceiling limit--Measure for reducing litigation--Instruction No. 3 of 2011 raising monetary limits--Applicable to pending cases--Instruction No. 3 of 2011, dated 9-2-2011--CIT v. Sureshchandra Durgaprasad Khatod (HUF) (Guj) . . . 556
S. 269UA --Income from house property--Business--Business income or income from house property--Meaning of “owner†of property--Law applicable--Effect of amendment of section 269UA w. e. f. 1-4-1988--Owner of land entering into agreement for development of land--Assessee allotted office space on lease for thirty-three years with option of five consecutive renewals--Assessee owner of office space--Amount earned from sub-letting office space--Assessable as income from house property-- Rayala Corporation P. Ltd. v. Asst. CIT (Mad) . . . 630
Rajasthan Co-operative Societies Act, 1965 :
S. 16(8) --Loss--Carry forward and set off--Co-operative society--Amalgamation of co-operative societies--Registration of amalgamating societies cancelled upon amalgamation--Accumulated losses of amalgamating co-operative societies cannot be carried forward to be set off against profits of amalgamated co-operative society-- Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Ltd. v. Deputy CIT (SC). . . 564
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