S. 68 : Cash credits – Non -Resident – Foreign bank accounts – Mentioning wrong status in the return – Once the assessee is non-resident the income or deposit in the foreign bank account cannot be taxed in India – Addition was deleted . [ S. 6(1), 56(2)(v) , 153A]

S. 264 :Commissioner – Revision of other orders – Interest received in income tax refund – Amount taxed twice – Revision power is not limited to correcting any errors committed by the tax authorities but also extended to errors committed by the assessee- Order of Commissioner was set aside . [ S, 56, 148, 246A , Direct Tax Vivad Se Vishwas Act , 2020 Art , 226 ]

S. 148 : Reassessment –Notice – After the expiry of four years –
Time limit for notice – Sanction for issue of notice – Approval was obtained from Additional Commissioner of Income -tax Instead of Principal Chief Commissioner of Income tax – Order is bad in law and quashed . [ S. 147, 149(b) 151(1)(ii) , Taxation and other laws ( Relaxation and Amendment of certain Provisions ) Act , 2020, Art , 226 ]

S. 45 : Capital gains – Long term capital gains – Unaccounted income –Purchases accepted as genuine – Shares were traded on stock exchange after paying securities transaction tax and money had been received through banking channels – Capital gains cannot be assessed as bogus long term capital gains- Deletion of addition by the Tribunal is affirmed [ S. 10(38) 133A 260A ]

S. 10(38) : Long term capital gains from equities – Sale of shares – Securities transactions tax was paid – Mere presumptions and suspicion – Exemption cannot be denied [ S. 45 ]

S. 10(2A) : Share income of partner – Details of partners with their PAN copy of returns of firm with computation of income was furnished – Partner entitled to exemption .

S. 68 : Cash credits – Demonetization – Cash deposited – Cash sales – Demonization -Addition as undisclosed income was not justified- Construction of showroom -Difference in valuation was less than 10 percent – Addition was deleted [ S. 69 , 153A ]

S. 270AA : Immunity from imposition of penalty,etc- Order was set aside-Directed to grant immunity. [S. 270A, 270AA(2), Art. 226]

S. 226 : Collection and recovery – Modes of recovery – Stay – Failure to deduct tax at source-Interest payment made to foreign bank-No financial hardship-Directed to deposit 20 per cent of total demand-DTAA-India-China. [S. 201(1), 201(IA), Art. 11(3), Art. 226]

S. 148A : Reassessment – Conducting inquiry, providing opportunity before issue of notice – Non-sharing of material information on the basis of which reassessment proceedings are undertaken isviolative of the Act and denies an effective opportunity to the assessee to file a response to the same. [S. 148, 148A(b), 148A(d), Art. 226]