S. 281B : Provisional attachment-Recovery of tax-Over 21 Per Cent. of demand already collected-Assessments concluded-No justification to continue with provisional attachment. [S. 226(3)]

S. 277 : Offences and prosecutions-False statement–Verification– Search-Additions made in block assessment based on discrepancy in stocks —Prosecution is not valid. [S. 132, 136, 158BC, 276C(1), 278B, CRPC, 1973, S. 482, IPC 193]

S. 276B : Offences and prosecutions-Failure to pay to the credit tax deducted at source–No reasonable cause was shown for delay -Launching of prosecution is held to be valid. [S.201, 278AA, 279]

S. 271B : Penalty-Failure to get accounts audited–Audit report was available with AO on date of completion of assessment–Reasonable cause–Penalty not warranted. [S. 273B]

S. 260A : Appeal-High Court–Open remand-Remanding matter to AO without recording any finding–No question of law. [S. 35D, 254(1)]

S. 260A : Appeal-High Court-Pendency of petition for rectification before Tribunal is not relevant to decide the maintainable of appeal before High Court.[S. 254(2)]

S. 254(1) : Appellate Tribunal-Powers-Claim for deduction which is not made in return or revised return-Tribunal has power to allow deduction.[S. 139(1), 139(5)]

S. 234C : Interest-Deferment of advance tax–Waiver of interest– Demerger of business-Advance tax payment made by demerged company after appointed date-Resulting company entitled to waiver of Interest.[S. 119]

S. 158BC : Block assessment–Undisclosed income–Telescoped– Tribunal remanding the order is held to be erroneous- Addition made by the AO is held to be valid. [S. 132, 254(1)]

S. 154 : Rectification of mistakes-Amalgamation of companies-Rectification for disallow claim allowed u/s. 80HHC is held to be not valid. [S. 80HHC]