S. 263 : Commissioner-Revision of orders prejudicial to revenue-Short term capital loss-Section 263 cannot be used just because the PCIT holds a different view-No finding of lack of enquiry or perversity in AO’s conclusion-Reaffirmed that revisional jurisdiction cannot substitute AO’s discretion where AO acted judiciously.[S. 143(3)]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Since all necessary verification and examination of documents in reasonable manner was done, the assessment order cannot be called erroneous and prejudicial within the meaning of s. 263, Expln. 2-Revision order is set aside. [S. 143(3), 147, 148]

S. 251: Appeal-Commissioner (Appeals)-Powers-CIT(A) did not give opportunity to assessee for hearing-Held, CIT(A) does not have power to dismiss appeal summarily without going on merits-matter back to NFAC for de novo consideration. [S. 250, 251(1)(a), 251(2)]

S. 251: Appeal-Commissioner (Appeals)-Powers-CIT (A) has wide powers akin to reassessment authority and must ensure thorough adjudication while deleting additions made by AO-Matter remanded back to AO to conduct fresh enquiries.[S. 250]

S. 244A : Refunds-Interest on refunds-Refund to be adjusted first from the outstanding interest and thereafter the principal amount.

S.199: Deduction of tax at source-Credit for tax deducted-Sale of jointly owned immovable property-The property was jointly owned, and the capital gain was shared equally between the spouses cannot be the sole reason for disallowing the TDS credit.

S. 199: Deduction of tax at source-Credit for tax deducted-The contract was terminated, the income did not accrue, and the advance was refunded-Entitled to claim a refund of the TDS deducted on the advance paid by the party. [R. 37BA(3), Art. 265]

S. 194A: Deduction of tax at source-Interest other than interest on securities-Assessee in default-Reimbursement of interest to Group Company-Not liable to deduct TDS by the Assessee-Levy of interest is deleted. [S. 201(1), 201(IA)]

S.156A: Modification and revision of notice in certain cases-Demand and recovery-Since the resolution plan has yet to be finalized, remanding the appeal to the AO is necessary-The AO will take the required steps before the NCLT in compliance with s.156A and the IBC provisions. [S. 156, 178, Insolvency and Bankruptcy Code, 2016S. 14]

S. 154 : Rectification of mistake-Mistake apparent from the record-Tax deducted at source-Rectification proposing withdrawal of refund of tax deducted at source-Rectification order is not valid.[S. 143(1)]