Interpretation of taxing statutes – Dismissal of SLP in limine- Dismissal of SLP at threshold without indicating any reasons , does not constitute any declaration of law or binding precedent under Art. 141 of the Constitution of India [ Art. 141]

Interpretation – Allied law

No estoppel against law- Concession in law which is contrary to the statutory rules is not binding on the litigant.

S. 143(3): Assessment- If the case is selected for limited scrutiny of a specific issue, the AO has no jurisdiction to make additions or disallowances on other issues.

S.69: Income from undisclosed sources- Penny stock –Return of 491 % – Bogus long term capital gains- Stock Exchange has identified Cresssanda Solutions Ltd as penny stock being used for obtaining bogus long term capital gains- No evidence of actual sale except contract notes issued by share Broker were produced – Denial of exemption is held to be justified .[S.10(38), 45 ]

S. 271(1)(c) : Penalty–Concealment–Legal representative-After initiation of penalty proceedings death of the assessee-Penalty proceedings cannot be continued against his legal representatives. [S. 159]

S. 271(1)(c) : Penalty–Concealment–Land shown as agricultural- Undertaken work to develop housing plots on land–Furnishing inaccurate particulars–Levy of penalty is held to be justified.

S. 269UC : Purchase by Central Government of immoveable properties – Restrictions on transfer-Chapter XX-C of Income-Tax Act Litigation between owner and department-Writ petitions by original assessees withdrawn in 2016-Income-Tax Department had not taken any steps to take possession of land from 1994 to 2017—High Court directing Income-Tax Authorities to take conciliatory action under Section 119(2) of the Act. [S. 119(2), S. 269UD, 269UG, Art.226]

S. 226 : Collection and recovery–Stay–Single judge directed the assessee to deposit 40 percent of total enforceable demand and furnish sufficient security for 35 percent of the total enforceable demand. [S. 220, 226(3)]

S. 195 : Deduction at source-Non-resident-When the payment is not taxable–Not liable to deduct tax at source.

S. 153A : Assessment–Search-Block assessment-Search warrant in the name of firm–Documents seized–Subsequent change of address of firm–Search not invalidated–Assessment is held to be valid. [S. 132]