S. 263 : Commissioner-Revision of orders prejudicial to revenue-Firm-Remuneration to partners-Book profits-interest income not excluded while determining allowable deduction of remuneration to partners-Interest income business income-Deduction admissible-Central Board Of Direct Taxes Circular No. 12 Of 2019, Dated 19-6-2019-Revision is quashed. [S. 40(b)(v)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share premium-Discounted cash flow method-Revenue could not compel assessee to choose particular method of valuation-Revision order is quashed. [S. 56(2(viib), 143(3), R.11U, 11UA]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record-Application is filed after five months from period of extension granted and six months after original order-Delay is not condoned.

S. 251 : Appeal-Commissioner (Appeals)-Powers-Sundry creditors-Matter restoring back to Assessing Officer to make further enquiries is affirmed. [S. 246A,250, 251(1)(a)]

S. 250 : Appeal-Commissioner (Appeals)-Procedure-Passing order merely stating wrong facts by cut paste from other assessee’s record-Matter remanded to Commissioner (Appeals) for adjudication afresh in accordance with law.[S. 249]

S. 206C : Collection at source-Trading-Alcoholic liquor-Forest produce-Scrap-Limitation-Assessment year 2012-13-Assessing Officer ought to have assessed order under section 206C(6A) on or before 31-3-2016-Order barred by limitation-Penalty-Failure to collect tax at source-Quantum appeal quashed-Penalty cannot be levied. [S. 206C(7),271CA]

S. 154 : Rectification of mistake-Mistake apparent from the record-Corporate social responsibility-Disallowance is not justified-The Assessing Officer is directed to rectify the mistakes under section 154 within three months. [S. 40(a)(ia), 143(1)]

S. 154 : Rectification of mistake-Mistake apparent from the record-Agricultural income-Book profit-Refund of claim-Order of Assessing Officer disposing of rectification application recomputing book profits including agricultural Income-Directed to grant the refund. [S.10(1),115JB]

S. 153C : Assessment-Income of any other person-Search-Satisfaction note-Incriminating material referred in satisfaction note not connected to assessee-Order is held to be invalid and quashed.

S. 153A : Assessment-Search-No incriminating material found in search-Alleged bogus long-term capital gains-Amalgamation approved by High Court-No evidence to prove transactions were bogus-Addition is deleted-No search on assessee-No assessment order could have been passed. [S. 10(38) 132, 133A]