S. 263 : Commissioner-Revision of orders prejudicial to revenue-Industrial undertaking-Losses incurred prior to initial year-Deduction allowed by Assessing Officer in accordance with circular-Without setting off brought forward unabsorbed depreciation-Capital gains-Securities Transaction Tax-Own funds-Revision is quashed. [S.10(38), 80IA]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Assessing Officer disallowed the expenses after considering the reply of the assessee –Extent of inquiry Assessing Officer’s prerogative-Commissioner cannot impose his own understanding of extent of inquiry-Revision is not valid. [S.40(a)(i) 40(ia) 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny assessment-Issues raised in revision thoroughly examined in assessment proceedings-Revision is bad in law.[S.14A, 36(1)(iii), R.8D]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Record-Unexplained expenditure-Repayment of unsecured loans-Shell Companies-Revision is not justified-Loans from shell companies-Revision is justified.[S.68, 69C]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Industrial undertaking-Himachal Pradesh-Audit report filed physically before filing of return-Deposit of cash-Demonetisation period-Detailed filed in the course of assessment proceedings-Revision is held to be not valid.[S.80IA(7), 80IC, 80IE (6), 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Survey-Surrender of income-Commissioner cannot look again at same information-Revision is quashed.[S.133A, 143(3)]

S. 251 : Appeal-Commissioner (Appeals)-Powers-Additional grounds-Lease expenditure-Revised computation-Not justified in refusing admission-Matter remanded to the CIT(A).[S. 37(1)]

S. 194A : Deduction at source-Interest other than interest on securities-S. 194A : Deduction at source-Interest other than interest on securities-Non deduction of TDS on year-end provision-Suo moto disallowance of expenditure u/s 40(a)(ia)-liability to deduct tax at source u/s 194A exists-levy of interest u/s 201(1A) –Failure to identify the payees-Matter remanded.[S.40(a)(i), 40(a)(ia),191, 201 (1), 201(IA)]

S. 154 : Rectification of mistake-Mistake apparent from the record-CPC while processing the return of income in as much as depreciation u/s 32 has not been granted-Entitled for the claim of depreciation. [S.32]

S. 154 : Rectification of mistake-Mistake apparent from the record-Time limit-Barred by limitation-Merit also eligible deduction. [S.80IA, 143(3) 154(7)]