S. 263 : Commissioner-Revision of orders prejudicial to revenue-Dealer in gold-Loss through MCX transactions for hedging its stock-in-trade-Loss is business loss-Not speculative-Revision is not valid.[S. 28(i)) 43(5)(d), 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Income from other sources-Share premium-Discounted Cash flow (DCF) method-Selected for scrutiny on the ground that large share premium received during relevant assessment year-Assessing Officer accepted the claim-Commissioner was not justified in setting aside order of AO under section 263 on ground that AO had merely accepted claim of share premium without making enquiry with respect to valuation of shares. [S. 36(1)(va), 56(2)(viib),142(1), R.11UA]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Examined all details-Possible view-Revision is not valid.[S. 10(21)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Donation to political parties-No enquiry was made by the Assessing Officer-Revision is held to be justified.[S.80GGC]

S. 255 : Appellate Tribunal-Procedure-Functions-Jurisdiction-Transfer of appeals-Cash credits-Share capital and premium-Commissioner (Appeals), Kolkata deleted addition-Appeal filed by revenue before Gauhati Bench of Tribunal-Appeal is dismissed on ground of lack of jurisdiction. [S. 68, ITAT R, 1963, R. 4]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Power to recall and to pass any order-Authority letter-Authority to counsel to appear and present before Tribunal-Authority is fullest, unlimited and unrestricted and there is no rider mentioned therein, withdrawal/non-pressing of ground by counsel-Tribunal had accepted withdrawal/non-pressing without authority of counsel is devoid of any merit and is rejected. [S. 254(1)]

S. 250 : Appeal-Commissioner (Appeals)-Non-speaking order-Procedure-Commissioner (Appeals) has to decide appeal on merit by passing a speaking order and does not have any power to dismiss appeal for non-prosecution.[S.68, 69, 131, 133(6), R.46A]

S. 250 : Appeal-Commissioner (Appeals)-Procedure-Income from other sources-Appeal is dismissed without deciding on merits-Matter remanded to the file of CIT(A) to decide on appeal. [S.56(2)(x)(b), 250(6)]

S. 220 : Collection and recovery-Assessee deemed in default-Fringe Benefit tax-Intimation and demand notice concerning FBT demand was ever served-Interest charged under section 220(2) is deleted. [S.115WE, 115WJ,220(2)]

S. 201 : Deduction at source-Failure to deduct or pay-Salaries-Perquisite-Rent free accommodation-Concession-No finding is recorded-Addition is deleted. [S.17(2)(ii), 201(1) R. 3]