Held that the department cannot proceed against a person found liable to prosecute him for the offence under Section 276CC of the Income Tax Act, 1961 without sanction under section 278B.
Held that merely because the assessee is referred as a contractor in the agreement, it doesn’t detract the assessee from the position of being a developer, nor will deprive the assessee from claiming deduction under Section 80IA(4) of the Act.
Held that identity of the donors as provided u/s 115BBC of the Act has been established by the assessee. Accordingly, the donations cannot be categorized as anonymous donations and cannot be subjected to tax.
Held that for invoking revisionary power u/s 263 it is necessary to point out the error in the order and that too such an error should be prejudicial to the interest of the revenue
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CIT(A) merely followed certain case laws without discussing nature of expenses claimed by assessee – Order not sustainable
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