S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Non-resident of Indian –Jurisdiction to be checked at the time of issue of notice – The Honourable Curt also observed that the Assessing Officer has taken dishonest stand -Notice and consequential order passed by the Assessing Officer for the relevant year is quashed -. [S. 120 , 148 ,148A(b),m148A(d) Art . 226 ]

S. 271C : Penalty-Failure to deduct at source-Interest payable to Uttarakhand Environment Protection and Pollution Control Board on FDs with the assessee-Board not a taxable entity, established under Central Act-Penalty not leviable. [S.194A(3), Notification No. S. O. 3489(E), Dated 22-10-1970.]

S. 271C : Penalty-Failure to deduct at source-International transaction-Arm’s Length Price-Concealment of income or furnishing inaccurate particulars-Penalty levied on enhancement of Transfer Pricing adjustments-Tribunal directing inclusion or exclusion of certain comparables-If Directions Of Tribunal Given Effect By Assessing Officer Basis Transfer Pricing Adjustments Would Not Survive-No Question Of Penalty. [S. 92C, 92CA (3)]

S. 271AAB : Penalty-Search initiated on or after 1st day of July 2012-Statement on oath-Undisclosed Income-Conditions-Admission in statement recorded during search not the sole criteria-A.O. not recording satisfaction-No legal basis for sustaining charge of undisclosed income-No basis for levy of penalty. [S. 132, 132(4)]

S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Assessee declared income including income surrendered during search-A.O. initiating penalty-Show cause notice unclear with respect to which clause-Cash available with assessee as consequence of savings and gift-Cannot be treated as undisclosed income-Penalty quashed.[S. 132, 132(4), 274]

S. 271(1)(c) : Penalty-Concealment-Additions during reassessment-Reasons recorded for reopening assessment and additions made on different grounds. A.O. failed to prove that assessee concealed income or furnished inaccurate particulars of income-Additions deleted-Penalty deleted.[S. 133(6), 147, 148]

S. 271(1)(c) : Penalty-Concealment-Denial of special deduction claimed against income from long term capital gain-No business income shown-High court decision in favour-Deduction admissible-Not a case of furnishing inaccurate particular-Penalty not leviable. [S. 80G, 80HHC, 112(2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Slump sale-Exemption-Exemption denied in revision-Computation of book profits objected-Transaction not ‘Transfer’-AO conforming to legal standards to compute books of accounts-Transactions between subsidiaries not amenable to book profits computation-Revision not justified.[S. 45,47(iv), 115JB]

S. 263 : Commissioner-Revision of orders prejudicial to revenue –Deposit of cash by husband of assessee-sale of plot belonging to father and amount deposited in assessee’s account-AO raising queries and after all verification accepting return of the assessee-Revision is bad in law. [S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny assessment-Large share application money received against unallotted shares-AO examining and making necessary verifications-Arrived at plausible view-Revision not warranted.[S. 143(3)]