S. 254(1) : Appellate Tribunal – Duties- Delay of 253 days in filing the appeal before the Tribunal is condoned – Directed the assessee to deposit Rs 10000 / with the Maharashtra State Legal Services Authority and submit receipt of the same before the Office the Tribunal – Directed the Tribunal to decide on merit [ S.12A(3), 253 ]

S.226: Collection and recovery – Modes of recovery –Pendency of appeal before CIT(A) – CIT(A) is directed to hear the appeal with on four weeks from the date of the receipt of an authenticated copy of the order- Stay proceedings were stayed . [ S. 179, 226(3) ]

S. 143(3) :Assessment – Capital -Revenue – Share premium- -Reassessment –Addition is made on account of share premium , without issuing show cause notice and without following the principle of natural justice -Income from other sources- Alternative remedy is available – Directed to file an appeal with in four weeks . [ S. 4, 56(1) , 148 ,246A, Art .226 ]

S. 147 : Reassessment – After the expiry of four years- No failure to disclose material facts which are necessary for assessment – Order of Tribunal is affirmed .[ S.14A, 40(a)(ia),115JB ,148,194J ]

S. 115WA: Fringe benefit tax – Relationship of employer and employee – Free medical samples distributed to doctors is in the nature of sales promotion – Not liable to pay fringe benefit tax .[ S.115WG ]

S. 115JB : Book profit – Provisions as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to a banking company governed by provisions of Banking Regulation Act, 1949- Companies which are not required to prepare its profit and loss account in accordance with part II & III of Schedule VI of the Companies Act , 1956 – Adjustment cannot be made . [ S.115JB(2) ,Companies Act , 1956 , S 211(2) , Banking Regulation Act, 1949 ]

S. 80IB(10) : Housing projects- Completion of project- Partial construction of project – Eligible for exemption .

S. 69A : Unexplained money -Un explained jewellery – Deletion of addition by the CIT(A) is held to be justified . [ S.132(4) ]

S. 68 : Cash credits -Identity of creditor established – Need not explain the source of the source – Addition confirmed by the Tribunal is deleted .

S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability – Remission of loan by Government of Maharashtra cannot be assessed u/s 28(iv) or 41(1) of the Act – Order of Tribunal is affirmed [ S.28(iv ) ]