S. 271(1)(c) : Penalty-Concealment-Neither assessment order nor penalty notice specifying the charge-Revised return was filed before issue of notice u/s. 142(1) and 143(2) of the Act-Claiming only statutory deduction-Levy of penalty was held to be not valid. [S. 11(2), 12A, 142(1), 143(2), 274]

S. 271(1)(c) : Penalty-Concealment-Set off of unabsorbed depreciation and business losses-Making full disclosure-Penalty not sustainable. [S. 115JB]

S. 271(1)(c) : Penalty-Concealment-Disallowance of expenditure of annual exchange service charges-Levy of penalty is held to be not warranted. [S. 37(1)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share capital and share premium-Identity and creditworthiness established-Revision order is held to be not sustainable. [S. 68]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Interest on borrowed capital-Order was passed after due verification-Sale of land-Variation with in tolerance limit of 15 per Cent-Revision order was quashed. [S. 36(1(iii), 50(C), 143(3)]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Order of Supreme Court extending limitation for purposes of all laws-Miscellaneous application filed on 28-9-2020 was admitted as filed within extended due date-Glaring and patent mistakes-Tribunal order was recalled and matter was directed to be heard afresh.

S. 194C : Deduction at source-Contractors-Advertisement-Liable to deduction u/s. 194C and not u/s. 194J-Lease rent-Failure to deduct tax at source on rent-Matter remanded. [S. 194J, 201(1), 201(IA)]

S. 154 : Rectification of mistake-Excess deduction-Merits of issue could not be adjudicated in rectification proceedings-Deduction allowed while giving effect to the order of Tribunal-Withdrawal of deduction granted earlier on the basis of judgement of Supreme Court decision-Debatable-Order of Rectification is held to be nor valid. [S. 14A, 36(1)(vii), 147]

S. 154 : Rectification of mistake-Accumulation of 15% of gross receipts-Assessing Officer issuing intimation considering net revenue-Mistake apparent on record-Ought to have rectified. [S. 11(1)(a), 143(1)]

S. 154 : Rectification of mistake-Excise duty refund Capital receipt-Capital subsidy liable to be excluded-Failure to consider subsequent judgement Supreme Court or Jurisdictional High Court-Mistake apparent from record. [S. 4, 115JB]