S. 263 : Commissioner-Revision of orders prejudicial to revenue-Commission-Without show cause notice cannot presume that incentive had not been paid-Share capital-Source of introduction of capital fully explained-Revision is held to be not valid. [S. 37(1), 68]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Branch to head office-Interest paid by Indian branch of assessee non-resident bank to its Head Office and overseas branches being a payment to self would be governed by principle of mutuality and, therefore, same could not be brought to tax as per provision of section 9(1)(v)(c)-Revision is held to be not valid-DTAA-India-USA. [S. 9(1)(v)(c), Art. 11]

S. 254(2A) : Appellate Tribunal –Stay-Power of Tribunal to stay-Matter referred to larger Bench. [S. 254(1)]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Income deemed to accrue or arise in India-Business connection-Stay of employees in India-Issue referred to AO for verification-No mistake Apparent on record-DTAA-India-UK. [S. 9(1)(i), Art. 5(2)(k)(i)]

S. 254(1) : Appellate Tribunal-Duties-Passing order-Rules for pronouncement-Period of lockdown to prevent spread of Covid-19 epidemic, has to be exclude. [ITAT R. 34(5)]

S. 250 : Appeal-Commissioner (Appeals)-Ex parte dismissal of appeal-Matter remanded to CIT(A) to re adjudicate the appeal on merit. [S. 80P(2)(a)(i)]

S. 244A : Refund-Interest on refunds-Assessable under head income from other sources-Taxable in which right to such refund had been recognised or date on which it was actually received.

S. 234E : Fee-Default in furnishing the statements-Delay in submitting the return-Levy of late fee is mandatory. [S. 200(3)]

S. 206C : Collection at source-Scrap-Purchase of scrap material from railways which was subjected to TCS, resale of same material by assessee would not partake a different character and he would be held-in default for non collection of tax at time of resale. [S. 206C(6A) 206C(7)]

S. 194I : Deduction at source-Rent-State Government-Krishi Upaj Mandi Samiti-Income exempt-Not liable to tax at source. [S.10(26AAB)]