S.253: Appellate Tribunal – Tax Effect below prescribed limit -Appeal is not maintainable .

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Cash credits -Share application money -Details were filed in the original assessment proceedings -AO is not to be expected to discuss each and every item of verification in assessment order- Revision is held to be not justified .[ S.143(3)]

S. 264 : Commissioner-Revision of other orders–Filed after expiry period of limitation- justified in dismissing the petition. [S. 143(3), 147]

S. 147 : Reassessment-After the expiry of four years-Interest income – Accrual- No failure to disclose material facts–Reassessment is bad in law. [ S. 5, 148]

S. 148 : Reassessment–Merged with another company-Notice issued in name of assessee became invalid and quashed [S. 147].

S. 68 : Cash credits- Trade creditors- Deletion of addition is held to be justified on facts. [S. 260A]

S. 45 : Capital gains- Business income- Short term capital gains- Taken delivery of shares and used own funds–Assessable as capital gains and not as business income. [S. 28 (i)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source Usance interest-Letter of credit discount charges-Merely in nature of reimbursement of cost incurred by suppliers under agreed arrangements and not interest- Not liable to deduct tax at source. [S. 2(28A, 194A]

S. 40(a)(ia) : Amounts not deductible – Deduction at source – Reimbursement of expenses – Federation of International Hockey for arranging for provisional services connected with event of Hockey World Cup–Not liable to deduct tax at source. [S. 9(1)(i), 195]

S. 37(1) : Business expenditure-Consultancy services – Foreign travelling expenditure of representative – Allowable as business expenditure.