Belated deposit of TDS & calculation of interest for delay : Whether British calendar month or a period of 30 days?
Addition under section 69C on bogus purchases if there is no dispute with regard to corresponding sales
Capital gains chargeability on transfer of know-how of an underdeveloped product having no cost of acquisition
Expenses incurred on developing and maintaining land in connection with real estate activity & its deduction against forfeited amount
Penalty is not leviable where the penalty proceedings were initiated long after the completion of assessment and order was silent about the levy of penalty
Interest expense on loan for acquisition of the asset and it’s deduction while computing capital gain – Delhi ITAT held that “Deduction under section 24(b) and computation of capital gains under section 48 are altogether covered by different heads of income”
Condonation for delay in filing appeal condoned – Held that “By filing appeal belatedly, no benefit had accrued to assessee. In fact, non-filing of the appeal would act as detrimental to the interest of assessee, therefore, delay in filing of appeal could not be construed as intentional error/comission on part of assessee”.
