S. 275 : Penalty–Concealment-Limitation-Appeal effect order having been passed by AO on 22nd May, 201-The six month period of limitation under will begin to run from that date—Penalty order passed by AO on 26th April, 2018, passed beyond six months, was barred by limitation. [S. 271(1)(c), 275 (1)(a)]

S. 271AAB : Penalty-Search initiated on or after 1st day of July 2012-Entries in the books of account–No penalty can be levied. [S. 2(12A)]

S. 271AAA : Penalty-Search initiated on or after 1st June, 2007–Common appeal filed–Wrong advice–Delay was condoned–Matter remanded. [S. 246A, 271(1)(c)].

S. 271(1)(c) : Penalty–Concealment–Explanation given by the assessee is not proved to be false-Levy of penalty is held to be not valid. [S. 69A, 271AAA]

S. 271(1)(c) : Penalty-Concealment-Interest on fixed deposit receipts– Messing commission-Shown as exempt income–Levy of penalty is held to be not valid. [S. 148]

S. 271(1)(c) : Penalty-Concealment-Surrender of income voluntarily– Penalty cannot be levied.

S. 271(1)(c) : Penalty–Concealment–Recording of satisfaction-In applicable portions are not struck off-Levy of penalty is held to be not valid.

S. 271(1)(b) : Penalty-Failure to comply with notices-Alleged bank account not belong to assessee–No failure on part of assessee-No penalty can be levied. [S. 142(1)]

S. 271(1)(b) : Penalty-Failure to comply with notices–Penalty is upheld based on assessee’s conduct and failure to comply with statutory notices but deleted the penalty for five years in the interest of justice. [S.132, 142(1)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue–Share capital – share premium-AO conducted detailed inquiry–Revision is held to be not valid. [S. 68, 133(6)]