S. 4 : Charge of income-tax-Horse racing-Commission income-Diversion of, by overriding title-Winning payments to public and betting tax payable to State government had an overriding title on gross receipts-Matter remanded to the AO for verification. [S. 148]

S. 2(22)(e) : Deemed dividend-Loan to share holder-Share holding more than 10 percent of shares-Accumulated profits to be considered as on the date of advance of loan-Addition as deemed dividend is justified.

S. 272A : Penalty-Delay in filing TDS return-Delay in filing quarterly statements-Not well acquainted with the procedure of e-filing of TDS return-Penalty was deleted. [S. 201, 272(2)(k), 273B]

S. 271G : Penalty-Documents-International transaction-Transfer pricing-Diamond industry-Practical difficulties in furnishing segment-wise details of AE segment and non-AE segment-Penalty not leviable. [S. 92D(3)]

S. 271(1)(c) : Penalty-Concealment-Mortgaged property-Auctioned by bank-Capital gains not shown-Guarantor-Difference view-Levy of penalty is not valid-Appeal admitted-Penalty cannot be deleted automatically. [S. 2(47) 45, 48, 260A]

S. 268A : Appeal-CBDT Circular-Tax effect from Rs 20 lakhs to Rs 50 lakhs-Enhancing limit-Applies appeals pending before ITAT.

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Book profit-New method of accounting-Forex gain or losses-No enquires made by the AO in the assessment proceedings-Revision is held to be valid. [S. 115JB]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Club entrance fee-Capital receipt-Revision is held to be not valid. [S. 4, 143(3)]

S. 253 : Appellate Tribunal-Managing Director or Director-Appeal signed by General-Not having valid power of Attorney-Appeal was dismissed in limine [S. 140 (c) Rules, 45, 47]

S. 253 : Appellate Tribunal- – Private company — Recovery of tax — Name struck down from ROC under section 248 of Companies Act, 2013 Arrears of income-tax due — Appeal to Tribunal does not become infructuous – Name struck down from ROC under section 248 of Companies Act, 2013-Appeal is maintainable. [S. . 68, 179 ,248, 250, Companies Act , 2013 , S.248 , 250 ]]