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)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue–Orders shall be passed without being influenced by any of the observation made or finding rendered by the Single Judge.

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Revision by CIT on the ground of over-valuation of shares of assessee for buy-back purposes—Directing the assessee to file necessary objections to the show-cause and such reply shall be considered by meeting out each and every objections raised, on merits and in accordance with law. [S. 92CA]

S. 254(1) : Appellate Tribunal-Responded can depend the grounds, though no appeal id filed–Search and seizure–Jurisdiction issue. [S. 132, 153A, ITAT R. 27]

S. 254(1) : Appellate Tribunal-Remand Assessment-Order giving effect-AO must comply the direction of the Tribunal. [S.2(8), 143(3), 250]