S. 263: Commissioner-Revision of orders prejudicial to revenue-Unsecured loans-AO raised queries, examined identity, creditworthiness and genuineness of creditors, and took a plausible view-General observation by PCIT without specific finding as to what inquiry was lacking-Revision order not sustainable. [S. 143(3), 153A]

S. 263: Commissioner-Revision of orders prejudicial to revenue-AO allowed deduction under section 54B after detailed inquiry-View taken by AO reasonable and plausible-Twin conditions for section 263 not fulfilled-Revision order not sustainable. [S. 54B, 260A]

S. 254(1) : Appellate Tribunal-Powers-Expert opinion of technical matters-Inspection of factory to decide the matter-Not perverse or any excess of jurisdiction. [S. 260A]

S. 245C : Settlement Commission-Settlement of cases-Conditions-Applications of petitioners were validly filed before ITSC which legally and factually existed, i.e., much before Finance Act, 2021 was promulgated on 1-4-2021-Application shall be treated as pending applications to be considered by Interim Board-Direction was issued to consider application. [S. 119(2)(b), 153A, 245C(1), 245C(5) Art. 226]

S. 245C : Settlement Commission-Settlement of cases-Conditions-Abolition of Settlement Commission-Interim Board Settlement Commission inoperative from 1-2-2021-Application on 17-3-202, i.e., prior to date when assent of President of India had been received for Finance Act, 2021-Application was restored to file of Settlement Commission. [S. 24B. 245C(1), 245(5) Art. 226]

S. 244A : Refunds-Interest on refunds-Compensation of acquisition of agricultural land-Assessee neither made aware of deduction of tax at source nor issued form 16A by deductor-Delay in application for refund under circumstances beyond control of assessee Assessee-Entitled to interest on refund-SLP delay of 457 days-SLP dismissed on account of delay as well as on merits. [S.194LA, Art. 136]

S. 220 : Collection and recovery-Assessee deemed in default-CIT(A) allowed the appeal-Tribunal allowed the appeal of the revenue-Fresh notice of demand-Liability to interest commences from expiry of one month from second notice-CBDT-Circulars issued by Central Board not binding upon court-Circular No. 334, dated 3-4-1982(1982) 135 ITR 10 (St) [S. 119, 156,220(2) 254 (1), Art. 226]

S. 197 : Deduction at source-Certificate for lower rate-Software license agreement-Order set aside with directions to decide the application in accordance with the order of Dispute Resolution Panel and the order of Supreme Court-DTAA-India-USA [Art. 7, Art 226]

S. 179 : Private company-Liability of directors-Recovery of tax-Petition for stay of proclamation and sale of assessee’s property-Assessee not challenging order holding her jointly and severally liable with company, nor attachment order-Assessee not impleading company-None of foundational orders challenged-Assessee or company unwilling to pay taxes, though demands attained finality-No severe financial hardship pleaded-Balance of convenience not favouring grant of an unconditional stay-Direction to deposit 50 per cent. of demand within eight weeks as condition for stay.[Art. 226]

S. 158BC : Block assessment-Undisclosed income-Benami companies-High Court holding findings of fact if not perverse cannot be interfered with in appeal-SLP dismissed. [S. 132, 158BB, 260A, Art. 136]