Issues heard by the Special Benches, yet to be decided.
The following issues have been heard by the Special Benches but orders are yet to be issued.
1. Whether or not the amount received by the assessee employee on redemption of stock appreciation rights constitutes income liable to tax in his hands irrespective of the fact that no shares or stock are actually allotted to him and that the assessee does not have any rights to receive such shares or stock?
2. Whether in the light of decision in 232 ITR 2 it must be held that the profit received by the assessee is revenue income chargeable to tax.
3. Whether on the facts of the case and in law, the process of pasteurization of milk amounts to process of manufacture/production for the purpose of
claiming deduction u/s 80I and 80HHA .
4.
a. Whether on the facts and in the circumstances of the case the provision of Section 14A can be invoked in the appellate proceeding?
b. Whether on the facts and circumstances of the case decisions of ITAT, in the case of Navin Bharat Industries Ltd. ( ITA No. 2201/ Bom /94 for Assessment Year 1990-91) and decision in the case of Hexa Securities and Finance Co. Ltd. ( ITA No.2308 /Del/04) are applicable or distinguishable?
c. Whether, on the facts and in the circumstances of the cases, and having regard to all the earlier order of the Tribunal, the Income-tax authorities were justified in estimating the ALV of the property at Nos. 14-16 Aurangzeb Road, New Delhi at Rs.932,888 /- as against Rs. 5,12,932/- declared by the assessee in the return?
5.
a. Whether, in the facts and circumstances of the case, the expenditure incurred by the assessee on account of computer software is of revenue nature or capital nature?
b. If the expenditure incurred on computer software is held to be of capital nature, what would be the rate of depreciation applicable thereon?
6. Whether, on the facts and in the circumstances of the case, the assessee-company is a financial company under the Interest-tax Act, 1974, liable to tax there under on the revenue income earned on its financial transactions?"