S. 12AA : Procedure for registration-Trust or institution-Charitable purpose-Object and genuineness of Trust-Tribunal justified in directing the Commissioner to grant registration and also approval under section 80G(5)(vi) of the Act. [S. 11, 80G(5)(vi), 254(1)]

S. 271FAA : Penalty-Furnishing inaccurate statement of financial transaction or reportable account-Rectified the defects-Revised Form No 61B within the time allowed under section 285BA(4)-Penalty is deleted. [ S. 285BA(4), Form No 61B]

S.271D: Penalty-Takes or accepts any loan or deposit-Loan from its director-Purchase of lands in name of company-Current account transaction-Neither loan or deposit-Penalty is deleted. [S. 269SS]

S. 271(1)(c) : Penalty-Concealment-No addition to the returned income-Making a wholistic view of factual panorama of case and circumstances, in which return for year could not be filed within stipulated time, it could be said that there was a reasonable cause, bringing case out of purview of Explanation 3 to 271(1)(c).[ S. 11, 12A, 12AA, 153]

S. 271(1)(c) : Penalty-Concealment-Failure to declare capital gains-Quantum addition is confirmed by the Tribunal-Penalty is affirmed.[ S. 45]

S. 270A : Penalty for under-reporting and misreporting of income-Excess claim of deduction-Penalty is confirmed at 200 per cent. [S. 270A(9)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-No lack of enquiry-Survey-Income surrendered-Business income-Assessment was finalised after considering the reply of the assessee-Revision order on the basis of surrendered income to be assessed under section 68 @ 60 per.cent as per section. 115BBE is quashed and set aside. [S. 68, 115BBE, 133A, 142(1), 143(2), 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Gift from son-Failure of the Assessing Officer to examine the creditworthiness of the donor-Revision order is affirmed. [ S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Depreciation-Capitalised and treated as revenue receipts-Explained the difference of depreciation-Revision order is set aside.[ S. 32]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Source of cash-Neither the Assessing Officer not PCIT examined the source of cash-The matter is remanded to the Assessing Officer to the limited extent to verify the cash available for making deposits in the bank. [ S.68, 143(3)]