S. 271(1)(c) : Penalty-Concealment-Finding in assessment proceedings-Burden of proof-Gift held to be nongenuine-In penalty proceedings revenue authorities have to arrive at independent finding related to concealment of income or inaccurate particular. [S. 68]

S. 254(2A) : Appellate Tribunal-Powers-Stay-Capital gains-Denial of exemption-Deposited a sum of Rs. 15.71 lakhs out of demand of Rs. 61.99 lakhs, and directed to deposit a further sum of Rs.15 lakhs and on such deposit there shall be an order of interim stay till disposal of appeal before Tribunal. [S. 10(38), 45, 254(1), Art. 226]

S. 250 : Appeal-Commissioner (Appeals)-Dismissal of appeal on the ground of defective appeal-Rejection of stay application-Directed to file additional memorandum of appeal and stay application. [S. 220(6), 271B, Art. 226]

S. 237 : Refund-Delay in processing refund-Duties of tax Authorities-Directed to process return of income as expeditiously as possible and pay refund to assessee if any due. [S. 143(1), Art. 226]

S. 234A : Interest-Default in furnishing return of income-Waiver of interest-legal and financial disability for a long period due to subsistence of winding up order, no interest would be payable under sections 234A, 234B and 234C for aforesaid period. [S. 119(2)(a), 234B, 234C, Art. 226]

S. 220 : Collection and recovery-Assessee deemed in default-Stay application-Directed to dispose stay application expeditiously and until said application is disposed of the Assessing Officer should not insist upon compliance of the recovery notice. [S. 220(6), Art. 226]

S. 147 : Reassessment-After the expiry of four years-Housing project-No failure to disclose material facts-Reassessment is held to be not valid. [S. 80(IB)(10)(f), 148, Art. 226]

S. 271(1)(c) : Penalty-Concealment-Export oriented undertakings-Bonafide claim-Deletion of penalty is held to be justified. [S.10B]

S. 271(1)(c) : Penalty-Concealment-Not recording of satisfaction-Order of Tribunal quashing the reassessment proceeding was affirmed.

S. 264 : Commissioner-Revision of other orders-Conversion of immoveable property in to stock in trade-Shown as capital gains-Matter remanded to Commissioner. [S. 5A, 143(1), Art. 226]