S. 272A : Penalty – Delay in filing quarterly TDS returns- Tax deducted was deposited in time – Filing of TDS return was delayed in initial years of switch-over from manual system in a e-filing of quarterly TDS returns due to several technical glitches in working of revenue’s server- Levy of penalty is held to be not justified .[ S. 272A(2) (K),273B ]

S. 234B : Interest – Advance tax – Reassessment-Unexplained investment – levy of interest is mandatory [ S.147, 148,234B(3)]

S. 69A : Unexplained money – Documents seized in third party premises in the course of search- No mention of name of assessee in the seized documents -Deletion of addition is held to be justified .[ S.132(4A) ]

S.68: Cash credits-Shares- Purchase of shares held to be genuine – Sale consideration cannot be assessed as assessee’s own unaccounted money [ S.45 ]

S. 50C : Capital gains – Full value of consideration – Stamp – Date of agreement -Registration – Value adopted or assessed or assessable by stamp valuation authority on date of agreement is to be taken for purpose of full value of consideration- The proviso to S. 50C was inserted by the Finance Act, 2016 with effect from 1-4-2017 is prospective in nature. [ S. 2(47)(v)45 ]

S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts – Schedule bank – A co-operative bank is entitled to claim deduction of bad debts provided in first part of S.36(1)(viia)(a) being 7.5 per cent of total income even in absence of rural branches.

S.10(22): Educational institution- Exemption cannot be denied merely on ground that it was receiving fees from foreigner students in foreign exchange abroad by way of an arrangement with an educational organisation abroad.

S. 194C : Deduction at source – Contractors – Refining crude oil and selling petroleum products – Agreement with another company for transportation of goods- Works contract-Rent- Liable to deduct tax at source u/s 194C and not 194I [ S.194I ]

S. 43D : Public financial institutions -Real income- Co -Operative Bank – Interest on non -performing assets -Shown in books as per RBI guidelines – Interest not accrued- Not assessable [ S.4 , 5, 145, RBI Act, 1934, S. 45Q ]

S. 251 : Appeal – Commissioner (Appeals) – Powers -Once appeal is filed the said appeal cannot be withdrawn by the assessee- CIT(A) has to decide the appeal on merit- Delay of 116 days in filing the appeal before the Tribunal was condoned .[ S. 246A,250(4), 253 , 254(1)