S. 10(10D) : Life insurance policy – Keyman insurance policy – Assignment of policy – Amendment brought in by Finance Act 2013 in Explanation 1 to section 10 (10D) is prospective in nature and it shall only apply to keyman insurance policy assigned after 1-4-2014 – policy assigned in hands of assessee in year 2013 would continue to be an ordinary policy and sum received by her on maturity would not be taxable – Revision of order is held to be not valid [ S.263 ]

S. 276C : Offences and prosecutions – Wilful attempt to evade tax – Penalty deleted – Launching of prosecution is held to be not valid [ S.277 ]

S. 276C : Offences and prosecutions – Wilful attempt to evade tax –
Look-out circular — Application for withdrawal of look out circular and permission to travel abroad —Non-co-operation in investigation proceedings — Apprehension that assessee might flee India — Permission to travel abroad cannot be granted.[ Code Of Criminal Procedure, 1973, S.482 Art .226 ]

S. 276 : Offences and prosecutions – Concealment – Appeal against assessment pending before appellate authority -Criminal proceedings to be kept in abeyance till decision by appellate authority . [ S.276(1), Art , 226, 227 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Revaluation of land and building -Capital gains on sale of land- Two possible views – Revision is held to be bad in law [ S.45 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue –
Revision —Interest-free loans having own interest-free funds —
Valuation of closing stock — Discrepancy owing to export sales not having element of excise duty- Method consistent with Accounting Standards prescribed by Institute of Chartered Accountants of India-Commission payment to non resident- Failure to deduct tax at source -Revision order held to be not valid – Order of Appellate Tribunal is affirmed . [ S. 14A, 143(3 ) 145 195 ]

S. 260A : Appeal – High Court – Monetary limits –In view of the Circular issued by the Central Board of Direct Taxes, the present appeal is dismissed as withdrawn/not pressed without answering the purported substantial questions of law.

S. 260A : Appeal – High Court -Capital or revenue – Income from other sources — Reimbursement received on account of assets purchased -— Department not appealing against orders for other years on same facts — Appeal not maintainable .[ S.4 ]

S.254(1): Appellate Tribunal – Duties – Additional evidence —Failure by Appellate Tribunal to exercise jurisdiction vested in it — Matter Remanded to Appellate Tribunal [ S.69C 260A ATR, 1963 , R.29 ]

S. 254(1) : Appellate Tribunal – Duties- Natural Justice —Additional evidence — Opposing party should be given opportunity to rebut evidence — Tribunal cannot reliance upon a google study in order to have an idea about the air pollution control equipment without giving an opportunity to rebut the evidence – Order of Appellate Tribunal set aside [ S. 131(1) , 255(6) ]