S.14A: Disallowance of expenditure- Exempt income-Dividend income-Investments made out of own funds-No interest disallowance-Administrative expenditure to be reasonably apportioned.[S.10(33), R.8D]

S. 9(1)(vii): Income deemed to accrue or arise in India- Fees for technical services-Non-resident-DTAA-Most Favoured Nation clause-Relevant date is date of treaty and not subsequent OECD membership-Treaty benefit denied- Corporate guarantee fee-Not managerial, technical or consultancy service-Not Fees for Technical Services- Reimbursement of social security contribution of seconded employees-Fees for Technical Services-Surcharge and education cess-Not leviable where treaty prescribes tax rate.-India-France.[S.90, Art. 12, 13]

S. 272A : Penalty-Failure to answer questions-Sign statements-Furnish information-Failure to comply with summons under section 131-Reasonable cause established-Penalty deleted.[S. 131, 272A(1)(c), 273B]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Assessing Officer conducted detailed enquiry-Mere absence of discussion in assessment order not sufficient-Revision quashed-Failure of Principal Commissioner to examine entire assessment record-Earlier reassessment order ignored-Revision without jurisdiction.[S. 143(3)]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Reassessment initiated to verify alleged accommodation loans-No evidence of receipt of loans found in books or bank accounts-Revision based on suspicion-Order quashed. [S. 68, 147, 148]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Survey-Surrender of excess cash and unaccounted advances as professional income-Assessing Officer after due enquiry accepting claim-Revision held invalid. [S.69A 115BBE, 133A]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Capital introduced by partners-Burden to explain source lies on partners-Assessment of firm not erroneous-Cash deposits in bank-Cash sales recorded in books and accepted-Revision invalid-Audit objection-Internal audit information can form basis-Independent application of mind by Principal Commissioner sufficient-Unsecured loan-Issue not challenged by assessee-Matter restored to Assessing Officer.[S.68, 143(3)]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Appeal pending before Commissioner (Appeals)-Revision on issues not forming subject matter of appeal-Revision valid-Penalty initiated under wrong provision-Correction through revision permissible where assessment otherwise erroneous-Addition under section 68 taxed at normal rate instead of mandatory rate under section 115BBE-Revision valid. [S.68,115BBE, 250, 271AAC]

S. 254(1) : Appellate Tribunal-Powers-Delay of 449 days-Delay was condoned and matter remanded to the file of CIT A) to decide on merits. [S. 250]

S. 251 : Appeal-Commissioner (Appeals)-Powers-Enhancement by Commissioner (Appeals)-Mandatory notice under section 251(2) not issued-Enhancement invalid-Company-Book profit-Recast financial statements-Adjustment not adjudicated-Matter remanded. [S. 115JB, 251 (2)]