S. 9(1)(i): Income deemed to accrue or arise in India – Business connection – Transfer of shares – Gains derived from alienation of any property taxable only in contracting state of which alienator is resident- Provisions of Act cannot override provisions of agreement – Gains from transfer of shares taxable in Belgium and not in India- DTAA – India – Belgium [ Art . 13(5) 13(6 ) ]

S. 271(1)(c) : Penalty – Concealment – Not specifying the charge- Valuation estimation- Levy of penalty is not justified- Below monetary limit –Department is precluded from filing an appeal before Appellate Tribunal [ S.253, 274 ]

S. 271(1)(c) : Penalty – Concealment – No detailed finding – Matter remanded to CIT (A) to decide the issue by passing a reasoned order.

S. 271(1)(c) : Penalty – Concealment – Addition set aside Levy of penalty is held to be not valid – Not specifying the charge – Levy of penalty is not valid – Penalty on account of deemed concealment is unsustainable as the Assessing Officer has not made any reference to any incriminating material or income declared by the assesssee [ S. 132(4) , 153A, Explanation 5, 274 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Limitation -Reassessment – Issue subject of revision pertaining to original assessment – Original assessment passed on 16-1 2014 – Revision order on 26- 2 -2019 – Revision is barred by limitation , revision could have been taken up to 31 -3 -2016 [ S. 80IA ,80IB 143(3), 147 , 148, 263(2) ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Accommodation entry -Principal Commissioner not agreeing with manner of enquiry conducted by Assessing Officer — PCIT cannot substitute his own reasons- Revision is held to be not valid [ S.143(3) ]

S. 254(1) : Appellate Tribunal – Duties- Remand proceedings – Claim accepted by the Assessing Officer – Deletion of addition by the CIT (A) is held to be justified [ S.250, 253 ]

S. 246A : Appeal – Commissioner (Appeals) – Appealable orders – Revision – When appeal was pending revision application was filed – Revision is held to be not valid – Cost of Rs 40000 was imposed upon assessee- CIT(A) is directed to decide the matter on merits [ S. 249, 264 ]

S. 244A : Refund – Interest on refunds -Intimation — Assessable in year granted — If interest adjusted with prior tax liability of earlier years and paid to Government account — No need of separate intimation.

S.234E: Fee-Default in furnishing the statements- Deduction of tax at source —Amendment enabling levy of late fee for default in furnishing statement brought in with effect from 1-6-2015 — Prospective in nature — Levy of late fees while processing statement of tax deducted at source before amendment — Not sustainable.[ S.200A ]