S. 271(1)(c) : Concealment-Assessing officer not referring to seized material—Concealed income should be represented by some incriminating material during course of search—Difference in computation of cost of acquisition not concealment of income. [S. 153A]

S. 269SS : Penalty—Acceptance of loan in cash in excess of specified limit—assessee’s business inoperative for past years—assessee borrowing from bank and private money lenders for past years— assessee borrowing money from unorganised financial sector in cash for repaying financial liabilities—assessee declaring loss in return—reasonable cause—Imposition of penalty not warranted. [S. 273B]

S. 253 : Appellate Tribunal–Appeals-Monetary limits for appeals by department–Exceptions to be construed strictly.

S. 251 : Appeal-Commissioner (Appeals)–Powers-Capital gains-New source of income- Commissioner not competent to enhance an assessment on point not all considered by AO or raised by assessee-CIT(A) is also not entitled to enhance assessment holding sale itself was bogus and treat income u/s. 68 [S. 54F, 68]

S. 246A : Appeal to commissioner (appeals)—limitation for filing— condonation of delay—deduction of tax at source—failure to deduct —government organisation—”sufficient cause”—delay condoned-Matter remanded to CIT(A).

S. 234B : Interest-Advance tax-non-resident-liability on payer to deduct tax at source while making payment to non-resident-No liability on non-resident to pay advance tax-Interest is not chargeable. [S. 195]

S. 221 : Collection and recovery–Penalty-Tax in default-assessee filing return without payment of self-assessment tax-financial constraint and liquidity crunch faced by assessee at time of filing of return-good and sufficient reason for failure – Levy of penalty is held to be not justified.[S. 140A]

S. 201 : Deduction at source-Failure to deduct or pay–Airline-Not liable to deduct tax at source for passenger service fee collected by it from passengers and handed over to airport authorities and the amounts retained by banks from the passengers for booking tickets to fly in the aircrafts operated by the Assessee. [S.194H, 194J, 201(1), 201 (IA)]

S. 154 : Rectification of mistake–Expenditure incurred on issue of bonus shares–Allowable as revenue expenditure-Non-consideration of a decision of jurisdictional court or of the Supreme Court was a mistake apparent from the record and therefore liable to be rectified. [S. 35D, 37(1)]

S. 153A : Assessment–Search- Burden is on the department to prove that the seizure of the document and content thereof, so as to treat the document to be an incriminating document.-Deletion of addition is held to be justified. [S. 131]