S. 271AA : Penalty-Failure to keep and maintain books of accounts-Documents-International transaction-Transfer pricing-Non-compliance of provisions occurred due to opinion given by Chartered Accountant-Reasonable cause-Penalty unsustainable.[S.40A(2)(b), 92D, 92E, 273B]

S. 271(1)(c) : Penalty-Concealment-Additional depreciation-Claim not sustained by authorities-Penalty is not leviable.[S. 32]

S. 271(1)(c) : Penalty-Concealment-Prosecution on same facts quashed-No ground for levy of penalty. [S. 276C(1), 276D, 277]

S. 270A : Penalty for under-reporting and misreporting of income-Income tax refund-Offered in the course of assessment-Non-declaration of interest cannot be said to be under-reporting of Income. [S. 143(3), 274]

S. 270A : Penalty for under-reporting and misreporting of income-Notice not mentioning under which limb of section notice issued-Proceedings unsustainable. [S.270A(9)]

S. 270A : Penalty for under-reporting and misreporting of income-Change of head of income-Rental income-Explanation is not found to be false-Penalty is deleted.[S. 22, 23,24(a), 270A(6)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Book profit-Stepdown subsidiaries and associate companies-Revision order is set aside. [S. 36(1)(vii),43B 115JB]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limitation-Reference to Transfer Pricing Officer-Pursuant to order of Transfer Pricing Officer, Assessment Order Passed without Making any transfer pricing adjustments-Time-limit for passing order barred by limitation-Assessee given liberty to make application for recall of order if found later that Assessing Officer had passed assessment order considering direction of Principal Commissioner within time-limit allowed.[S.92CA(3) 143(3), 153]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash credits-Assessing Officer accepting genuineness of cash deposits-Revision on account of difference in opinion-Revision is invalid.[S. 68]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Real estate business-Income from house property-Value of unsold flats as stock-in-trade-Two possible views-Not erroneous-Business expenditure-Details filed before Assessing Officer and expenses allowed-Order is not erroneous-Revision invalid-Interest on tax deducted at source-Failure by Assessing Officer to carry out necessary inquiry-Order erroneous and prejudicial to interests of revenue-Revision is justified [S.23(1)(a), 40(a)(ia)]