S. 37(1) : Business expenditure–Ad-hoc disallowance of 10% of total expenses-Books of account not rejected–Submitted the details of expenses-Ad-hoc disallowance is held to be not justified. [S. 145]

S. 271(1)(c) : Penalty-Concealment-Difference of opinion between assessee’s and AO’s view for claim of exemption u/s.47(xiv) on conversion of proprietary concern in to public limited company-Levy of penalty is held to be not valid. [S. 47(xiv)]

S. 268A : Appeal–Revised monetary limits–Applicable to pending appeals and also appeals to be filed. [S. 253]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record – Order of Tribunal affirmed by High Court-Coordinate bench of Tribunal, subsequent to decision of High court could not have entertained miscellaneous application of assessee and recalled order originally passed by Tribunal. [S. 260A]

S. 254(1) : Appellate Tribunal-Power-Additional evidence-Tribunal is empowered to admit additional evidences in the interest of substantial justice. [ITAT, R.29]

S. 251 : Appeal-Commissioner (Appeals)–Powers–Undisclosed investment in property-Non speaking order–Matter remanded to CIT(A).[S. 69B, 147, 148]

S. 251 : Appeal-Commissioner (Appeals)–Powers–Estimation of gross profit–Right of appeal was not properly exercised–Matter remanded to the CIT(A). [S. 254(1)]

S. 250 : Commissioner (Appeals)-Dismissal of appeal in limine– CIT(A) cannot dismiss appeal in limine for non-prosecution without deciding same on merits-Order of CIT (A) is set aside. [S. 246A, 249, 250(6), 251]

S. 206C : Collection of tax at source-Failure to collect tax at source–Limitation-No limitation is prescribed-Reasonable period of limitation of four years from end of financial year in question was to be followed-order is quashed. [S. 201(3), 206C(6A)]

S. 194J : Deduction at source-Fees for professional or technical services-Arbitration charges–Payments to arbitrators is in nature of professional services rendered by legal professionals liable to deduct tax at source. [S. 40(a)(ia)]