S. 4 : Charge of income-tax-Loss of source of income-The amount received under the deed for restrictive covenant as a capital receipt not liable to tax. [S. 7(1)(iv), 17(3)(i), 28(va), Art. 226]

S. 145 : Method of accounting – Estimation of income – Discrepancy in receipt shown in 26AS – Merely on the basis of difference addition cannot be made [ S. 68, 133(6) , Form No 26AS ]

S. 80IB: Industrial undertakings – Form No 10CCB was uploaded on receipt of intimation – Assessing Officer is directed to allow the rectification applied by the assessee and allow the claim. [ S. 143(1), 154 ]

S. 260A : Appeal – High Court -Territorial jurisdiction —The High Court having jurisdiction over the Assessing Officer who passed assessment order – Appeals against orders of Appellate Tribunal lie before High Court within whose jurisdiction assessing officer who passed assessment order situated. [ 116, 120, 124, 127, 252, 255, 260A, 269]

S. 201 : Deduction at source – Failure to deduct or pay – Leave travel concession — Estimate of income – Assessee in default Public sector Bank — Employees travelling not only to domestic destination but to foreign countries – Not taking shortest possible route — Employees not entitled to exemption — Leave travel concession reimbursed without deduction of tax at source —Assessee could not claim ignorance about travel plans of employees- Complete facts available- Not a bona fide mistake-Liable to pay interest . [ S. 10(5), 192(1) ,201(1), ITR . 2B]

S. 139 : Return of Income – Income tax returns do not necessarily furnish an accurate guide of the real income- Particularly, when parties are engaged in a matrimonial conflict- High Court was not justified in setting aside the order of the Family Court . [ Code of Criminal Procedure 1973 , S. 125 ]

S. 220 : Collection and recovery – Assessee deemed in default – Interest mandatory — Delay in payment of tax — Waiver — No genuine hardship- Raising dispute before Authority not ground for waiver of interest — Dispute pending resolved under mutual agreement procedure – Order of Commissioner refusing to waive interest is justified. [ S. 220(2), 220(2A) ]

S. 142(2A): Inquiry before assessment– Special audit– Reference to Special Audit – Without opportunity of being heard – Illegal – No extension of time for assessment – Additional ground – Assessment order is barred by limitation. [ S. 143(3), 153 , 254(1) ]

S. 276CC : Offences and prosecutions-Failure to furnish return of income-Tribunal quashing the order on ground of limitation-Criminal prosecution initiated against petitioner for committing offences under sections 276CC and 276 could not be quashed. [S. 139, 148, 153A, 276C, 278E]

S. 276CC : Offences and prosecutions-Failure to furnish return of income-Survey-Delay of several months-Launching of complaint is justified-Petition to quash the proceedings dismissed. [S. 133A, 139, 148, 271(1)(c), 276(1), 277]