S. 271AAB : Penalty-Search initiated on or after 1st day of July 2012-Undisclosed income – Additional amount declared – Penalty levied at 60% on the amount surrendered is not valid penalty can be levied only at 10% of surrendered income – Additions made in respect of debatable issue levy of penalty is not justified. [S. 132(4), 271AAB(1)(a), 271AAB(c), 274]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Income from other sources- Order passed by the AO following the decision of Appellate Tribunal cannot be said to be erroneous – Amount received by a member of HUF from HUF is not taxable as income from other sources -Amount received is not a gift without consideration because the member has a pre-existing right in the property hence capital receipt – Revision is not valid. [S. 4, 10(2) 56(2)(vii)]

S. 4 : Suit for declaration of title with respect to premises – Plea raised by appellant was barred under S. 4 or not could not have been subject matter of assessment at stage when application under Order VII Rule 11 CPC was taken up for consideration -Court directed the Trial Court to expedite the matter and dispose of the pending suit as early as possible and preferably within six months. [Code of Civil Procedure, Order 1908 VII Rule 11]

S. 271(1)(c) : Penalty–Concealment–Quantum deleted-Levy of penalty was quashed.

S. 271(1)(c) : Penalty-Concealment-Excess stock–Deletion of penalty and also quantum of addition is held to be valid. [S. 145]

S. 263 : Commissioner-Revision of orders prejudicial to revenue–On money-Order passed by the AO after detailed enquiries-Revision is held to be bad in law. [S. 69]

S. 260A : High Court-Question of law-Reassessment-Book profit– Provisions-High Court was not justified in dismissing appeal on ground that appeal did not Involve any substantial question of law and case was remanded to High Court for deciding revenue’s appeal afresh on merits in accordance with law after framing substantial question of law in accordance with law. [S. 115JB, 147, 148]

S. 254(2A) : Appellate Tribunal–Stay–Stay of demand would not stand vacated after expiry of a period of 365 days, if delay in disposal of appeal was not attributable to assessee. [S. 254(1)]

S. 245D : Settlement Commission – Passing of order u/s 245D(3) is the discretionary of the Settlement Commission – Revenue cannot insist that the Settlement Commission must pass the order before proceeding further under S.245D(4) of the Act. [S.245D(2)(C), 245D(3), 245D(4)]

S. 237 : Refunds–Mismatch-Department cannot withhold refund payable to assessee on the ground that the computer system could not rectify the error–Directed to release the refund.