S. 276C : Offences and prosecutions-Willful attempt to evade tax-Tax paid with interest-No penalty provision-The assessee is not be allowed to suffer and to face criminal trial and same could not sustain in eyes of law.[S.140A, 277, Art. 226]
S. 276C : Offences and prosecutions-Willful attempt to evade tax-Tax paid with interest-No penalty provision-The assessee is not be allowed to suffer and to face criminal trial and same could not sustain in eyes of law.[S.140A, 277, Art. 226]
S.271D: Penalty-Takes or accepts any loan or deposit-Cash credits-Reasonable cause-High Court affirmed the order of the Tribunal [S. 68, 260A,271E, 273B]
S. 271D : Penalty-Accepts any loan or deposit –Not recived any cash loan-Un explained money-Penalty levied without recording the satisfaction-Not recorded any finding that there had been any violation of provisions of section 269SS-Penalty order is set aside. [S.69A,153C, 269SS, Art. 226]
S. 271(1)(c) : Penalty-Concealment-Capital gains-Additional income offered before issue of notice under section 148-Additional income cannot be treated as concealed income-Honesty of assessee in disclosing mistake and paying differential tax before assessment would negate grounds for imposing a penalty-Deletion of penalty is affirmed-[S. 45, 131, 143(1), 143(3), 147 148]
S. 271(1)(c) : Penalty-Concealment-Bonafide claim-Disallowance of interest-Order of Tribunal deleting the penalty is affirmed. [S. 36(1)(vii)]
S. 268A: Appeal-Instructions-Circulars-Monetary limits-Enhancing monetary limits-Applicable to all pending appeals. [S. 253, 260A]
S. 264: Commissioner-Revision of other orders-Bonafide mistake-Subsequent to the assessment –Not filed revised return-Over assessed-Commissioner has the power to grant the relief-Rejection order of CIT is quashed and set aside and directed to decide on merit.[S.43B, 139(5), 143(1), 143(3) Art, 226]
S. 263 : Commissioner-Revision of orders prejudicial to revenue –
Denial of exemption-Trust or institution-Investment restrictions-Jurisdictional High Court in favour of assessee when the Assessing Officer has passed the order-Revision order is quashed-Order of Tribunal is affirmed. [S. 2(15), 13(8) 143(3), 260A]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Method of accounting-Once order under S. 263 became final and stood quashed-No question can arise of passing another order as it will be invalid in eyes of law. [S. 143(3), 145, 260A]
S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record –Limited scrutiny for verification of cash deposits during demonetization period-Revision order is quashed by the Tribunal-Rectification application of Revenue is rejected-Order of Tribunal rejecting the rectification application is affirmed. [S.68 69C, 115BBE,263, Art. 226]