S. 264 :Commissioner – Revision of other orders -Cash credits –In the revision order the Commissioner did not make any addition to assessee’s income and held that addition of a sum of Rs. 20 crores being a serious matter, same should be examined again –Order of Commissioner is set aside by observing that it was not quantum of additions but justification thereof which would be germane for deciding to exercise revisional powers –Remanded the matter for fresh disposal. [ S.68 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Residence in India –Amendment to S.6(6)(a) has been brought into effect from 1-4-2004; which is not applicable for the Asst year 2003-04- Judgement of Supreme Court is binding on Assessing officer -Revision is held to be bad in law .[S.6(6)(a) ]

S. 260A : Appeal – High Court –No satisfactory reason has been provided for delay of 439 days in filing an appeal – Pendency of rectification application before Tribunal cannot be the reason for codonation of delay .[ S.254(2)]

S. 260A : Appeal – High Court –Monetary limits- CBDT Circulars continue to bind revenue and if they contain any conditions, whether such conditions are attracted or not would have to be proved and established by revenue; mere raising objection in terms of Circular would not be enough. [S.119]

S. 260A : Appeal – High Court – Question of matching concept which was never argued before the Tribunal nor raised before the High Court, cannot be argued first time before the High Court. [S.28(i)]

S. 251 : Appeal – Commissioner (Appeals) –Powers- Doctrine of merger- Powers –After filing an appeal the assessee filed revision application- Despite the revisional order being passed the Commissioner (Appeals) decided the same issue- Once revision petition was filed and decided, it was not open to Commissioner (Appeals) to decide appeal on same issue. [S. 264 ]

S. 245D : Settlement Commission –Revenue cannot compel the Settlement Commission to reopen the earlier years by passing rectification order- Petition is dismissed. [S. 154,245C]

S. 237 : Refunds –Annulment of assessment -Only tax paid by assessee in excess of what was declared by it on its own in return of income would be entitled to be refunded [ S.4(1), 140A(3), 158BD, 240(b), 244]

S. 234B : Interest – Advance tax – Sale proceeds were deposited in a ‘No Lien’ account with bank as per direction of BIFR – Assessee could not remit tax within time as amount received from sale proceeds were lying with bank –Rejection application for waiver of interest I held to be not justified- Directed the Commissioner to pass the order on merits. [ S.220(2)]

S. 226 : Collection and recovery -Stay- Pendency of Appeal before – Commissioner (Appeals) –CIT(A) granted stay on condition of 50% of tax in dispute- Single judge reduced to 20% of tax in dispute –On appeal considering the assessee being a co-operative bank , stay is granted by paying 1 % 0f tax in dispute. [ S.68, 249]