S. 271C : Penalty-Failure to deduct at source-Non-Resident- Deducting the tax at one percent and before conclusion of proceedings depositing correct amount of tax at 20.6 % with applicable interest-Reasonable cause-Levy of penalty is held to be not valid. [S. 194(IA) 195, 273B]

S. 271C : Penalty-Failure to deduct at source-Assessee in default-Fixed deposit-Form 15G-Reasonable cause-Levy of penalty is not valid. [S. 201(1), 201(IA), Form 15G]

S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-
Charge not specified in the notice-Penalty not sustainable-Returned income accepted-Levy of penalty is not justified. [S. 132(4), 143(3) & 274]

S. 271(1)(c) : Penalty-Concealment-Disallowance of set-off of loss from purchase and sale of shares treating it as speculation loss-Disallowance of claim-Penalty not sustainable. [S. 73]

S. 271(1)(c) : Penalty-Concealment-Disallowance of interest on estimate basis-Penalty not leviable. [S. 36(1)(iii)]

S. 271(1)(c) : Penalty-Concealment-Failure to specify the specific charge in the show cause notice -Penalty levied was quashed.

S. 263 : Commissioner-Revision of orders prejudicial to revenue- Business income or income from house property-Amendment bringing to tax notional annual value of property held as stock-in-trade-Not applicable to prior years-Revision is held to be not valid. [S. 22, 23(5)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue- Depreciation-Different treatment for leased assets for book purposes and Income tax return-Revision is held to be valid. [S. 32]

S. 263 : Commissioner-Revision of orders prejudicial to revenue- Depreciation-Different treatment for leased assets for book purposes and Income tax return-Revision is held to be valid. [S. 32]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Long term capital gains-Penny stock-Sale of shares-Acceptance of declaration-Plausible view-Revision is held to be not sustainable. [S.10(38) 45, Income Declaration Scheme, 2016]