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]

S. 250 : Appeal-Commissioner (Appeals)-Procedure-Assessment against dead person-Legal heirs-No notice was served on the legal heirs-Order is set aside-CIT(A) is directed to hear the appeal a fresh.[S.143(3), 159, Art. 226]

S. 245D : Settlement Commission-Settlement of cases-Procedure-Application-Scope of provision-Power of ITSC to pass an order not limited only to aspects covered by application of settlement preferred by the assessee-ITSC empowered to render decision on issues which find mention in report of CIT-Order of Settlement Commission is affirmed.[S. 153A, 245C, 245D(4), Art. 226]

S. 240 : Refunds-Appeal –Order of Tribunal-Refund denied- Revenue is bound to refund amount to the Assessee with interest as per the provisions of Section 240 and there is no onus on the part of the Assessee to complete any formality for the amount of refund due-Non-functionality of TRACES Portal is not a ground for denying benefit arising out of statutory provision under the Act. [S.201(1)(201(IA), 254(1), Form Non26B, Art. 226]