S. 68 : Cash credits-Share application money-Failure to prove identity, genuineness and creditworthiness of investor entities-Tribunal without examining facts in depth deleting addition-Order is perverse-Order Of Commissioner (Appeals) upholding addition is restored. [S. 260A]

S. 10A : Free trade zone-Profits and gains derived from export oriented undertaking— Interest income-Short term fixed deposits-Matter remanded to the file of the Assessing Officer.[S.28((i), 56, Art. 136]

S. 10 (23C): Educational institution-Approval by prescribed authority-Object is not found existed solely for advancing educational purposes-Denial of exemption is justified. [S. 10(23C)(vi), Art. 226]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Permanent Establishment-Apportionment of income-Where an assessee had a Permanent Establishment in India, it would be liable to pay tax on income attributable to that PE notwithstanding that assessee at an entity level had suffered a loss-DTAA-India-UAE. [Art. 7(1), 7(2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash credits-Share capital-Share premium-Facts examined by Assessing Officer-Not a case of no enquiry or lack of enquiry 1Order is neither erroneous nor prejudicial to interests of revenue-Revision order is set aside-Revision jurisdiction cannot be exercised on same issue for second time. [S. 68, 133(6), 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Specific notice-Failure to file required information-Share premium-Cash deposit-Demonetisation-bad debt-Revision is justified. [S.36(1)(vii), (36(2), 56(2)(vii), 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Order was not available on portal Delay is condoned-Cash deposited in bank accounts-Assessing Officer is directed to verify source of cash available with for deposits, if Assessing Officer is satisfied with explanation no additions were to be made-Directed to decide in accordance with law.[S. 143(3), 254(1)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure to verify certificate of no deduction of tax at source or verify details-Late deposit of Employees’ contribution to Provident Fund and employees’ State Insurance-Revision is justified.[S. 36((1))(va), 43B, 197]

S. 254(1) : Appellate Tribunal-Powers-Additional ground-Question of law-Not raised before lower Authorities-Matter remanded to Assessing Officer for verification and decision in accordance with law.

S. 253 : Appellate Tribunal-Appeals-Monetary limits-CBDT instructions and Circulars-Any sum received from employees-Tax effect is Rs 46, 91, 541-Appeal of Revenue is dismissed. [S.2(24)(x), 36(1)(va),43B, 119, 268A]