Home Highlights July 2013 Year 2013 This

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1. Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section...

2. Revision u/s 263 - “no inquiry” v/s “inadequate inquiry” - there is a distinction between merely calling for information on a particular issue and considering such...

3. Person u/s 2(31) - Artificial Judicial Person (AJP) as defined in section 2(31)(vii) - Change of status from AJP to AOP - the Assessing Officer was not justified in...

4. Deduction u/s 80P(2)(a) is allowed for a cooperative society earning interest and dividend income from deposits with a Delhi State Cooperative Bank registered under the...

5. Investment of surplus fund by a coop society, no deduction u/s 80P – Supreme Court

6. Status of society - Artificial Juridical Person (AJP) or Association of persons (AOP) - Once a body/society is incorporated under a statute, it becomes juridical person - HC

7. Validity of assessment framed u/s 153C - Search conducted at secret office of searched person - Definition of "Books and Books of Accounts" u/s 2(12A) includes...

8. Reopening of assessment u/s 147 - Though the Counsel has made valiant attempt to contend before this Court that information sought for while issuing notices under...

9. Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

10. In the absence of any rules being framed u/s 102(2)(z) read with Section 59(2) of the DVAT Act, the power of the Commissioner under Section 59(2) of the DVAT Act to call...

11. Mere receipt of notice u/s 142 calling for information but not furnishing information in response to the notice, cannot be said to have 'co-operated in any inquiry -...

12. Special audit u/s 142(2A) - the order u/s 142(2A) was never communicated or even uploaded on the portal - the purported order directing special audit u/s 142(2A) will...

13. Revision u/s 263 - AO treated assessee taxpayer as a “cooperative society” registered u/sec.2(19) - The Revenue argues that the assessee is not a "cooperative society"...

14. Assessment of Trust - voluntary corpus donations - Whether the assessee is a discretionary Trust - Additions u/s Section 56(2)(vii) read with Section 2(24)(iva) - AOP...

15. Validity of notice issued u/s 143(2) with 142(1) - Period of limitation - Relevant Date - Date of filing of original return to be considered or date of removal of defect...