Where due date of filing of return has been extended the assessee is entitled to get benefit of deposit in capital gain account scheme in such extended period- Smt. S. Uma Devi [2015] 62 taxmann.com 64 (Hyderabad - Trib.) JANUARY 30, 2015

Amount received towards society corpus fund, water and electricity connection charges, cost of solar water heating system, which was in turn to be defrayed to respective agencies is not sale consideration for the ssale of flats[Para 10.5] Smt. S. Uma Devi [2015] 62 taxmann.com 64 (Hyderabad - Trib.) JANUARY 30, 2015

The incomes of the properties owned by the minor daughters were clubbed in the hands of the assessee[u/s 64(1A)], but the investment for purchase of the said properties came from the independent sources of the daughters and hence, it cannot be presumed that assessee is the owner of the properties for calculating limit of owning one residential house on the date of transfer u/s 54F.[Para 4.7] Smt. S. Uma Devi [2015] 62 taxmann.com 64 (Hyderabad - Trib.) JANUARY 30, 2015

For purpose of S. 54F requiring ownership of not more than one residential house on the date of transfer , ownership of building let out for commercial purposes can not be included. Allahabad High Court in P.N. Shukla v. CIT [2005] 276 ITR 642/142 Taxman 624 (All. Quoted to signify the word “residential” used with house[Para 4.3] Smt. S. Uma Devi [2015] 62 taxmann.com 64 (Hyderabad - Trib.) JANUARY 30, 2015

The entire order of AO reads as follows :"The penalty proceedings initiated in this case under s. 271C r/w s. 274 of the IT Act, 1961 are hereby dropped."Held by High Court in Para 12 of its order that “the order passed by the AO is cryptic, to say the least, and it cannot be sustained” Toyota Motor Corporation 306 ITR 49. Order of High Court confirmed by supreme court in Toyota Motor Corporation 306 ITR 52 rejecting the plea of the assessee that when all relevant aspects were placed for consideration and if order did not record reasons, assessee can not be faulted followed in Smt. S. Uma Devi [2015] 62 taxmann.com 64 (Hyderabad - Trib.) JANUARY 30, 2015

Receipts against reimbursement of expenses were to be included in gross receipts for determining income under section 44BB(1) for calculating presumptive income- Ensco Maritime Ltd. [2015] 62 taxmann.com 83 (Delhi - Trib.)

Though law does not mention any specific mode of exercising option for setting apart income for charitable purpose in succeeding year , If such option is exercised when return is filed, that would be treated as in conformity and comply with provisions contained in section 112015] 61 taxmann.com 400 (SC)G. R. Govindarajulu & So 03-09-2015

Held by Nagpur Trib in Brijgopal Madhusudan Bhattad that interest cost incurred in personal books and used for oil mill business of the assessee to be allowed as deduction. ITA 52/2013-

Service tax not to be included in gross receipts for calculation of presumptive income. The decision is rendered in context of 4BB in case of mineral oil companies, however might apply for 44 AD also.[2015] 61 taxmann.com 170 (Delhi - Trib) Sundowner Offshore International follows another Delhi Trib Judgement in Ensco Maritime.

Payment made to retiring partner over and above amount standing to the credit of his account is for acquiring commercial rights depreciable u/s 32 as intangible asset-Swastik Industries [2015] 61 taxmann.com 296 (Ahmedabad - Trib.)/[2015] 41 ITR(T) 277 (Ahmedabad - Trib.)