S. 263 : Commissioner-Revision of orders prejudicial to revenue-Survey-Specific query on undisclosed income in the course off assessment proceedings-Deeming provision is not applicable-Revision is not justified [S. 68, 69,69D, 115BBE, 133A]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Lack of proper enquiry-Educational activities-Rental income exemption-Gross receipts earned from carrying out educational activity-Revision order is quashed and set aside.[S.10(23C)(vi)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Deposit from customers-Lack of proper enquiry- Cash deposit in bank-Revision is valid. [S. 143(3)

S. 244A : Refunds-Interest on refunds-NFAC is directed to take cognizance of the proposition that interest under s. 244A has to be granted upto the date when the actual refund was received while deciding the matter.[S. 143(1), 234D]

S. 194A : Deduction at source-Interest other than interest on securities-Excess interest retained by nonbanking financial companies-loans purchased by bank-Upfront payment and allowing the originating NBFCs to retain part interest on such loan paid by the borrowers-No obligation to deduct tax at source-NBFCs have already offered to tax in their returns of income the interest earned on loans sold to the assessee-Levy of tax under section 201 (1) and levy of interest u/s 201(IA ) for failure to deduct u/s 194A, 194H or 194J is not applicable. [S.2(28A 194A, 194H, 194J 201(1), 201(IA)]

S. 154 : Rectification of mistake-Mistake apparent from the record-Survey-Stock offered-Assessed as business income-Rectification order is quashed. [S.69D, 115BBE, 143(3)]

S. 154 : Rectification of mistake-Mistake apparent from the record-Limitation-Non-service of intimation under S. 143(1)-The four year limitation seeking rectification starts ticking the moment the assessee is in receipt of the order-Rejection of application being time barred is not justified.[S.80P(2), 143(1), 154(7)]

S. 153D : Assessment-Search-Approval–A common and consolidated approval has been granted-Approval is bad in law-Order is quashed. [S. 153A]

S. 153A: Assessment-Search-Unabated assessment-No incriminating material-Information from audited balance sheet-Addition is deleted. [S. 132]

S. 153A: Assessment-Search-Bank Locker in the name of assessee’s father-Search warrant in the name of assessee-Keys of the locker were found from the residential premises of the assessee-Issue of notice is valid-Long term capital gains on sale of equity shares-Addition is deleted.[S.68, 69C 132]