S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Purchases of amount exceeding Rs. 20, 000, on a single day-Failure to produce bills-Disallowance made by Assessing Officer of 20 per cent of cash payments is affirmed. [R. 6DD, 260A]

S. 4 : Charge of income-tax-Exemption from payment of tax under exemption certificate issued under section 4A of on turnover of sales-Not subsidy-Assessable as revenue receipt. [S. U.P. Trade Tax Act, 1948, S.4A]

Prohibition of Benami Property Transactions Act, 1988
S. 24(1): Benami Transactions-Attachment of property-Satisfaction of initiating Officer that person in possession of property held benami may alienate property during period specified in notice-No material in possession of initiating officer, to show property held benami is likely to be sold-Attachment order is set aside. [S.2(8), 2(9), 24(3), Art. 226]

S. 276 : Offences and prosecutions-Wilful attempt to evade tax-Under reporting of income-Search-Settlement Commission-Pending criminal prosecution is not brought to knowledge of Settlement Commission-Immunity against prosecution granted by Settlement Commission without knowledge of pending prosecution-Provisions of Section 245I is not applicable-Prosecution cannot be quashed. [S. 132, 245C, 245H(1), 245-I, 277, Art. 226]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Long term capital gain-Order not prejudicial to interests of Revenue-Revision is not sustainable.[S. 10(38), 45, 260A]

S. 245D : Settlement Commission-Settlement of cases-Settlement Commission has wide power under Chapter XIX-A-High Court can interfere only if decision of Settlement Commission is not in accordance with provisions of Act or if it were based on bias, fraud and malice.[S. 245D(4), 245I, Art. 226]

S. 245D : Settlement Commission-Settlement of cases-Settlement Commission has wide power under Chapter XIX-A-High Court can interfere only if decision of Settlement Commission is not in accordance with provisions of Act or if it were based on bias, fraud and malice.[S.80IB(10), 245D(4), 245I, 292C(i)(ii), Art. 226]

S. 244A : Refunds-Interest on refunds-Delay in application under circumstances beyond control of assessee-Delay is condoned-Entitled to interest on refund-Money held without authority-Directed to grant interest under section 244A. [S.194LA, Form No.16A, 26AS, R. 31(3), Art. 226]

S. 244A : Refunds-Interest on refunds-Amounts paid as advance tax and tax deducted at source must be included-Interpretation of taxing statutes-Words must be given their natural meaning.[S. 143(1), 244A(1)(a)]

S. 220 : Collection and recovery-Assessee deemed in default-Stay-Pendency of appeal before CIT(A)-Stay granted subject to deposit of 20 Per Cent. of demand after considering merits of case is justified-Writ petition is dismissed.[S. 226,250, Art. 226]