S. 271(1)(c) : Penalty – Claim for deduction of rental payments without deducting tax at source-Explanation stating that due to over sight was not accepted –Penalty was confirmed .

S. 271(1)(c) : Penalty -Concealment – Bogus purchases- Levy of penalty was held to be not justified .

S. 249 : Appeal – Commissioner (Appeals) – Form of appeal and limitation – E-filing of appeal is not applicable to order passed prior to 1-3-2016 [ S.246A ]

S. 234D: Interest on excess refund – No additional interest had been computed under S. 234D in the reassessment proceedings and therefore interest is chargeable.

S. 147 : Reassessment – Issue was not examined during assessment hence reassessment was held to be valid. [ S.194H ]

S. 115JA : Book profits – Not applicable to Banking company

S. 92C : Transfer Pricing – Most appropriate method -Back to back transactions and solitary transaction-Matter restored to TPO .

S. 54 : Capital gains – Profit on sale of property used for residence – Mere availment of house building loan by assessee from bank for purchasing a new residential unit could not act as a disqualification for claim of exemption .[ S.45 ]

S. 50C : Capital gains – Full value of consideration – Stamp valuation – Assessee could raise objection to valuation through his return of income, only in the assessment proceedings . No universal principle with regard to being heard in the matter can be laid down and it all depends upon the language of provision and object and purpose of it [ S.45 ]

S. 45 : Capital gains –Business income- Sale of shares – Following the rule of consistency, the income from sale of shares is assessable as capital gains and not as business income. [ S.28(i) ]