Commissioner can’t dispose off an application seeking stay on order pending before CIT(A)

IT: Commissioner had no jurisdiction to pass an order on application seeking stay of order impugned in appeal pending before Commissioner (Appeals)

Developer deemed as dominant player when customer-banks only using its complex software for e-paymen

CL : Where consumer banks were totally depend on a particular developer of software for electronic payment system, prima facie said developer was a dominant player in market

Benefits arising from pre-payment of deferred sales tax to be included in computation of book profit

IT: Benefit arising on premature payments of 'deferred sales tax loans' at net present value should be excluded in computing income under normal provision of Act

Current year’s loss can be set off against undisclosed income declared in survey

IT : Since, income declared in survey falls under one of the heads of income, current year losses can be set off against such undisclosed income

Long-term capital losses can be set off against short-term capital gains computed under sec. 50

IT: Short-term capital gain computed on long-term depreciable assets can be set off against long-term capital loss

SC upholds levy of penalty on owner of goods instead of person-in-charge of goods

CST & VAT : In case of goods being carried by vehicles without proper declaration, penalty can be levied on 'person-in-charge of goods', which includes 'owner of goods'; therefore, penalty levied on 'owner of goods' instead of incharge of vehicle was valid

HC has jurisdiction to try an appeal against ITAT’s order which was passed within local limits of HC

IT: Where impugned order had been passed within local limits of territorial jurisdiction of High Court, High Court would have jurisdiction to try appeals against such impugned order

Sec. 12AA requires check on genuineness of activities of trust and not its application of income, ru

IT: Object of section 12AA is to examine genuineness of objects of trust, and not application of income of trust for charitable or religious purposes