S. 271(1)(c) : Penalty-Concealment-Capital gains-Admitted the claim as bogus-Admitted in affidavit-The admitted claim was not shown as income in response to notice issued under section 148 of the Act-Levy of penalty is affirmed. [S. 10(38), 45, 132(4), 139,148]

S. 270A:Penalty for under-reporting and misreporting of income-Difference between interest income offered to tax and income reported in Form No. 26AS-Disallowance of exemption-Penalty is deleted. [S.10(10), Form No 26AS]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny-Genuineness of expenditure-Wages and labour charges-Contractor, PAN and GST number, copy of Invoices, copy of the ledger account, payment details and the TDS on the payment made are on record-Contractor has not filed the return-The order passed by the AO cannot be held to be erroneous insofar as prejudicial to the Interest of the Revenue. [S.194C]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Audit objection-AO has conducted the required enquiry and not violated any of the conditions mentioned for revision of order as required by Expln. 2 of S. 263- Revision order is quashed. [S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Project completion method and percentage completion method-Accounting method-Guidance note-Assessing Officer has verified in the original assessment proceedings-Revision order is set aside.[S. 143(3), 145]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Survey-Specific query on undisclosed income in the course off assessment proceedings-Deeming provision is not applicable-Revision is not justified [S. 68, 69,69D, 115BBE, 133A]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Lack of proper enquiry-Educational activities-Rental income exemption-Gross receipts earned from carrying out educational activity-Revision order is quashed and set aside.[S.10(23C)(vi)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Deposit from customers-Lack of proper enquiry- Cash deposit in bank-Revision is valid. [S. 143(3)

S. 244A : Refunds-Interest on refunds-NFAC is directed to take cognizance of the proposition that interest under s. 244A has to be granted upto the date when the actual refund was received while deciding the matter.[S. 143(1), 234D]

S. 194A : Deduction at source-Interest other than interest on securities-Excess interest retained by nonbanking financial companies-loans purchased by bank-Upfront payment and allowing the originating NBFCs to retain part interest on such loan paid by the borrowers-No obligation to deduct tax at source-NBFCs have already offered to tax in their returns of income the interest earned on loans sold to the assessee-Levy of tax under section 201 (1) and levy of interest u/s 201(IA ) for failure to deduct u/s 194A, 194H or 194J is not applicable. [S.2(28A 194A, 194H, 194J 201(1), 201(IA)]