S. 263 : Commissioner-Revision of orders prejudicial to revenue-Real estate developer-Annual value-Deemed rent-Unsold flats as stock-in-trade for more than one year-Revision is not justified-Amendment to section 23 vide introduction of sub-section (5) by Finance Act, 2017 with effect from 1-4-2018 whereby property held as stock-in-trade was brought to tax, would be effective prospectively.[S. 22, 23]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash deposited-Demonetization-No enquiry was made in the assessment proceedings-Commissioner remanding the matter to Assessing Officer for de novo consideration is justified. [S.69A]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Profit on sale of property used for residence-Constructed house before one year from sale of flats-Revision order is not valid.[S. 54]

S. 253 : Appellate Tribunal-Appeals-Pendency of corporate insolvency proceedings under provisions of Insolvency and Bankruptcy Code, 2016-Appeal cannot be proceeded with.[S. 254 (1), Insolvency and Bankruptcy Code, 2016, S. 13, 14]

S. 234A : Interest-Default in furnishing return of income-Return due on 31-7-2020-Return was filed on 17-10-2020-Delay of 2.5 months-Tax was paid in August & September 2020-Interest correctly computed for the period 31-7-2020 up to August & September 2020 and not up to filing of return. [S. 139 (4)]

S. 234A : Interest-Default in furnishing return of income-Compensatory in nature-Can only be levied up to such date of self-assessment and not beyond that period or till date of completion of assessment.[S. 234B]

S. 205 : Deduction at source-Bar against direct demand-Salary-Tax deducted by employer-Not remitted to Central Government-Revenue can recover from employer and not from the employee.[S. 192]

S. 201 : Deduction at source-Failure to deduct or pay-Cheque tendered on due date-One day delay in debiting in bank account-Date of tendering of cheque for payment of Government dues could be deemed to be date of payment of tax-Interest cannot be levied. [S. 201(IA)

S. 199 : Deduction at source-Credit for tax deducted-Gift of shares-Interest income-Entitled to credit of tax deducted at source on interest earned from gifted amount-Substantive provision prevail over procedural irregularities. [S. 64, R.37BA(2)]

S. 199 : Deduction at source-Credit for tax deducted-Commission-Direction issued for reopen the assessment for the Assessment year 2013-14 and tax the commission income and also allow credit of TDS.[S. 147,159, 254(1), R. 37BA(2)(i)]