S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business expenditure-Prior period expenses-Revisional authority must come to a finding that order of assessment is both erroneous and prejudicial to Revenue-Writ petition against Revisional order is allowed. [S. 37(1) 143(3), Art. 226]

S. 260A : Appeal-High Court-Transfer pricing adjustment-Assessing Officer has given effect to the order of Tribunal-No substantial question of law survived for consideration. [S.92CA, 254(1)]

S. 251 : Appeal-Commissioner (Appeals)-Powers-Enhancement-Assessment cannot be enhanced without notice to assessee-Matter is remanded back to the file of CIT(A). [S. 250, 251(2)), 260A]

S. 245R : Advance rulings-Non-Resident-Entitlement to benefits under double taxation avoidance agreement-Transfer of shares-Transfer of shares in foreign company by non-resident assessee to another non-resident company-Treat shopping-Mere routing of investments through Mauritius cannot result in drawing adverse inference or raise presumption of illegality or treaty abuse-Order of Authority for Advance Rulings denying benefits illegal and unsustainable-Instructions of Central Board Of Direct Taxes-Certificate of residence issued by Mauritius Authorities would constitute sufficient and valid evidence-Circular No. 682, Dated 30-3-1994 (1994) 207 ITR (St) 7, Circular No. 789, Dated 13-4-2000 (2000) 243 ITR (St) 57-Applicant is not liable to tax on capital gains on transfer of shares to another non-resident-Treaty will prevail over provisions of Act-Legal Fiction Comprised In Article 27A-Subsidiaries have distinct and independent persona-Order of Authority for Advance Rulings holding that Article 13(3A) applicable only to sale of shares of resident company assessee not covered by Article 13(3A) is unsustainable-Economic substance-Assessee Transferring shares on which investments were made from capital contributions of its shareholders-Extent of investments, holding period and dividend declared to shareholders proving that contention of revenue that assessee lacked economic substance erroneous-Beneficial owner-Concept of beneficial owner gets attracted only if recipient of income or holder of asset mere depository-No finding that income controlled and regulated by third party-Allegation of revenue that sum earned from transfer of shares being beneficially held by assessee is misconceived and untenable-Resolution of Board-Power conferred on certain individuals to operate bank accounts-No payments authorised without concurrence of members of Board Of Directors-Merely because two members of board were connected with larger conglomerate it could not be held that assessees were reduced to mere puppets-Avoidance of tax-Company-Corporate entity-Non-Resident-Lifting of corporate veil-Department must first establish treaty abuse-Share transaction duly grand fathered by virtue of Article 13(3A)-Order of Authority For Advance Rulings holding that share transaction aimed at tax avoidance arbitrary and illegal-Assessee is entitled to benefits under Article 13(3A) of Double Taxation Avoidance Agreement-Interpretation of taxing statutes-Domestic legislation cannot be interpreted in manner to be in direct conflict with Double Taxation Avoidance Agreement provision or with over-riding effect over provisions of Double Taxation Avoidance Agreement-DTAA-India-Mauritius.[S. 45 90, 119,245R(2) Art.13(3) 13(3A), 27A]

S. 245C : Settlement Commission-Settlement of cases-Conditions-Additional conditions imposed by Central Board Of Direct Taxes through circular is not valid-Circulars cannot override provisions of Act.[S.119, 245D, Art.226]

S. 245C : Settlement Commission-Settlement of cases-Conditions-Case pending-Settlement Commission inoperative with effect from 1-2-2021-Establishment of Interim Board-Notification restricting filing of application before interim Board for settlement by assessees eligible on 31-1-2021-Settlement Commission legally existed till 31-3-2021-Last date mentioned in Notification should read as 31-3-2021-Orders rejecting applications quashed-Matters remanded to interim Board for consideration-Amendment in law-Legislative intent. [S.245A(b), Art.226]

S. 244A : Refunds-Interest on refunds-Non-Functionality of Department’s Portal-Amalgamation-Delay was not attributable to assessee-Entitled to additional interest-Interpretation of Taxing Statutes-Application of principles of equity. [S.153(5), 244A(1), 250, Art. 226]

S. 151 : Reassessment-Sanction for issue of notice-Failure to furnish approval of Designated Authority along with reasons recorded-Non application of mind-Notice and order disposing of objections is set aside.[S. 147, 148, Art. 226]

S. 151 : Reassessment-Sanction for issue of notice-Notice issued after four or three years-Specified Authority for approval-Approval granted by Joint Commissioner-The authority statutorily empowered to confer approval would be the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner-Notice and reassessment proceedings invalid.[S. 147, 148,148A(b), 148A(d), 151(ii)-Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020, S. 3. Art. 226]

S. 151 : Reassessment-Sanction for issue of notice-Notice issued after four or three years-Specified Authority for approval-Approval granted by Joint Commissioner-The authority statutorily empowered to confer approval would be the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner-Notice and reassessment proceedings invalid.[S. 147, 148,-Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020, S. 3. Art. 226]