S. 2(11) : Undisclosed foreign assets-Offences and prosecution-Failure to file return-Beneficial owner-Information under provisions of Exchange of Information article of India-Singapore Double Taxation Avoidance Agreement-Mentioning details of his passport as an identification document, did not necessarily, in absence of any other corroborative evidence of beneficial ownership of assessee over asset, lead to taxability in hands of assessee under Black Money Act-Deletion of addition was affirmed. [S. 2(12), 3, / 4, 5, 10(1), 50, Benami Property (Prohibition) Act 1988, S. 2(12), Prevention of Money Laundering Act]

S. 272A : Penalty-Failure to answer questions-Sign statements-Furnish information-Delay in filing TDS return-Tax deducted at source was deposited on time-No loss to revenue-Levy of penalty was held to be not justified. [S. 272(2)(k)]

S. 271(1)(c) : Penalty-Concealment-Not specifying the specific charge in the notice-Penalty levied was deleted. [S. 274]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Exempt income-Expenses was verified in the original assessment proceedings-Revision was held to be not valid. [S. 14A, R. 8D]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Genuineness of transaction was verified by the Assessing Officer-Revision was held to be not valid. [S. 10(38), 45]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Transporter-Failure to deduct tax at source-Objection not considered-Revision was held to be bad in law. [S. 40(a)(ia), 194C (6), 194C(7)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-GSR expenses-Donation made to two trusts registered u/s 80G(5)(vi) of the Act-Revision was held to be not valid. [S. 37(1), 80G(5)(vi)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share capital and share premium-Amount assessed after revision was less than the amount assessed earlier assessment order-Second revision on the ground that amount assessed was less than original assessment was held to be not justified. [S. 68, 133(6), 143(3)]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Industrial undertaking-Infrastructure development-Interest on income tax refund and interest on fixed deposits-No power of review-Rectification application was rejected. [S. 80IA]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Unexplained investment-Service of notice u/s. 143(2)-Miscellaneous application of revenue to rectify the mistake was dismissed. [S. 143(2)]