S. 271D : Penalty–Takes or accepts any loan or deposit–Burden is on assessee to prove reasonable cause–Burden is not discharged-Levy of penalty is held to be justified. [S. 269SS, 273B]
S. 271D : Penalty–Takes or accepts any loan or deposit–Burden is on assessee to prove reasonable cause–Burden is not discharged-Levy of penalty is held to be justified. [S. 269SS, 273B]
S. 271(1)(c) : Penalty–Concealment–Survey-Amount disclosed in the survey was included in return-Return was accepted–Levy of penalty is held to be not valid. [S. 133A]
S. 269UD : Purchase by Central Government of immoveable properties–Auction process is conducted bona fide and in public interest-Appellant given several opportunities to bid in fresh auction conducted but not doing so-Sale Confirmed in favour of fresh buyer-No arbitrariness.
S. 268A : Appeal–Monetary limit-Appeal dismissed as withdrawn [S. 260A]
S. 264 : Commissioner-Revision of other orders–Rejection revised return and rectification application-Delay in filing revision application-Directed to condone the delay-CIT is directed to decide on merit. [S. 139(5), 143(1), 154, Art. 264]
S. 264 : Commissioner-Revision of other orders–husband’s ill health-Transactions in immoveable properties–Unexplained money-Matter remanded for readjudication. [S. 69A, 143(3), Art. 226]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Loan-Unclaimed money–Detailed enquiries were made in the assessment proceedings-Revision is held to be not valid. [S. 68, 143(3)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Payments made to charitable institutions and expenditure towards execution of property–Rightly allowed as deduction by the AO-Revision is held to be not valid. [S. 45, 48. 143(3)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue– Addition to fixed assets–Disallowance u/s. 14A of the Act-Enquiries done by the AO in the original assessment proceedings-Revision is held to be bad in law. [S. 14A, R. 8D]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Introduction of capital-Loan from brother–NRI for two years-after detailed the AO has accepted the capital and loan as genuine-Revision is held to be not justified. [S. 69A]