S. 271(1)(c) : Penalty – Concealment – Bogus purchases – Estimated addition – Levy of penalty is not valid.[S.69A]

S. 263: Commissioner – Revision of orders prejudicial to revenue – Assessment order passed after making necessary inquiries – Held, revision proceedings cannot be initiated simply because PCIT was of the opinion that further inquiries should have been made on the issue.[ S.143(3) ]

S. 251 : Appeal – Commissioner (Appeals) – Powers – Appeal cannot be dismissed on account of non-prosecution- Order is set aside and directed to decide on merits. [S. 246A, 251(2)]

S. 151 : Reassessment – Sanction for issue of notice – Beyond three years – Specified Authority – Sanction by Principal Commissioner of Income Tax- Reassessment notice and order is bad in law.[S.148, 148A(b), 148A(d), 151(ii)]

S. 69A : Unexplained moneys – Demonetization – Not taxable as undisclosed income – Best judgement assessment – Order under section 144 is not valid.[S. 115BBE, 144]

S. 69A: Unexplained moneys – Search – Cash seized during search – Explained the source of cash – Addition is deleted. [S. 132]

S. 68: Cash credits – Share capital – Need not prove source of the source – Order of CIT(A) deleting the addition is affirmed. [S. 131, 133(6)]

S. 54F: Capital gains – Investment in a residential house – Joint names – Income has to be assessed in the right person – Indexation benefit is available. [S. 4, 45, 54]

S. 276C : Offences and prosecutions-Search cases-Failure to furnish return-Search and seizure-Block Assessment for Assessment prior to 1-1-1997-No provision for prosecution prior to that date-SLP of Revenue is dismissed. [S. 132, 158BC(a)(ii), 158BFA, 277, 278B, 278E, Art. 136]

S. 275A : Offences and prosecutions-Search and Seizure-Prohibitory order-Contravention-Bank Officials mistakenly reading order to extend to Locker also and permitting operation of Locker-Prosecution of Bank for offences of fraud, criminal breach of trust, misappropriation and conspiracy-Bank is a juristic person and question of Mens Rea did not arise-Nothing in first information report or complaint to show bank or its staff members had dishonestly induced someone to deliver any property to any person, and that Mens Rea existed at time of such inducement-No allegation of entrustment of property which bank had misappropriated or converted for its own use to detriment of Department-First Information Report or complaint not showing that bank and its officers acted with common intention or intentionally co-operated in commission of any alleged offences-Continuation of criminal proceedings against appellant-Bank would cause undue hardship to appellant-Bank-First information report is quashed-Prosecution against bank and its officials quashed-Order of High Court is set aside. [S. 131(IA), 132(1) 132(3), Code Of Criminal Procedure, 1973, S. 34, 37 120B 155(2)],201, 206 217, 406, 409, 420, 462]