S. 10 (23C): Educational institution- Denial of exemption –Profit motive- Matter remanded . [ S. 10 (23C)(vi), Art , 226 ]

S. 260A : Appeal – High Court – Dismissal of appeal on monetary limit of less than 50 lakhs – Rectification application of the revenue was allowed on the ground that the issue under consideration falls under exception clause of the Circular – Recall of the order is held to be justified – Appeal of assessee was dismissed [ S.254(2), 268A ]

S.115BBE: Tax on specified income – Levy of tax at 60% and surcharge @ 25 % – Legislature has the power to levy taxes and duties – Taxation Laws ( Second Amendment Act , 2016 ) – Order of single Judge is affirmed [ S.69A, Art, 245,246 (1), 269, 270, 271 ]

S. 2(11) : Undisclosed foreign assets-Offences and prosecution-Failure to file return-Beneficial owner-Information under provisions of Exchange of Information article of India-Singapore Double Taxation Avoidance Agreement-Mentioning details of his passport as an identification document, did not necessarily, in absence of any other corroborative evidence of beneficial ownership of assessee over asset, lead to taxability in hands of assessee under Black Money Act-Deletion of addition was affirmed. [S. 2(12), 3, / 4, 5, 10(1), 50, Benami Property (Prohibition) Act 1988, S. 2(12), Prevention of Money Laundering Act]

S. 272A : Penalty-Failure to answer questions-Sign statements-Furnish information-Delay in filing TDS return-Tax deducted at source was deposited on time-No loss to revenue-Levy of penalty was held to be not justified. [S. 272(2)(k)]

S. 271(1)(c) : Penalty-Concealment-Not specifying the specific charge in the notice-Penalty levied was deleted. [S. 274]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Exempt income-Expenses was verified in the original assessment proceedings-Revision was held to be not valid. [S. 14A, R. 8D]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Genuineness of transaction was verified by the Assessing Officer-Revision was held to be not valid. [S. 10(38), 45]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Transporter-Failure to deduct tax at source-Objection not considered-Revision was held to be bad in law. [S. 40(a)(ia), 194C (6), 194C(7)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-GSR expenses-Donation made to two trusts registered u/s 80G(5)(vi) of the Act-Revision was held to be not valid. [S. 37(1), 80G(5)(vi)]