S. 4 : Charge of income-tax-Carban credit-Capital or revenue-sale of certified emission reduction credit, which the assessee earned on the clean development mechanism in its wind energy operations, was a capital receipt and not taxable.

S. 254(2)): Appellate Tribunal – Rectification of mistake apparent from the record-Duties – High Court directed the Appellate Tribunal to upload the daily order sheets and revised cause list on its website – System in this regard be put in place by the ITAT , if not already there as expeditiously as possible , preferable within three months [ S. 253 , 254(1), 255 , , ITAT Rules ,1963 19, 20Art . 226 ]

S. 56 : Income from other sources – DCF Method – Receipt of consideration for issue of shares in excess of their market value – Valuation of shares- Following the prescribed method – Addition based on estimate is held to be not justified – Deletion of addition is held to be justified [ S.56 (2)(viib ) , 68, R 11UA (2)(b) ]

S. 271(1)(c) : Penalty-Concealment-Notice-Not mentioning the specific charge for concealment of income or furnishing inaccurate particulars of income-Deletion of penalty is held to be justified.

S. 264 : Commissioner-Revision of other orders-Fringe Benefits Tax-Claim for refund based on order of Tribunal-Commissioner bound by circular-Limitation does not apply to CBDT for passing order u/s 119-Principle of fairness and reasonableness is constitutional mandate-CBDT is directed to entertain the application for grant of refund. [S. 115WD(4), 119,Art, 14, 164]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business expenditure-Carry forward of loss-Acceptance of claim Of without application of mind to material on record-Revision of order setting aside the Assessment order is held to be justified. [S. 37(1), 72]

S. 260A : Appeal-High Court-Remand to Tribunal by High Court-Block assessment-Limitation-Question of limitation can be raised before the Tribunal in remand proceedings-Matter remanded to the Tribunal. [S. 132, 158BC, 254(1)]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Duty of Tribunal to decide on merits-Dismissal of first application for restoration was dismissed for non-prosecution-Dismissal of second application by invoking amendment-Dismissal was held to be not Valid-Appeal restored to original position [ITATR,1963, 24, Art. 226]

S. 254(1) : Appellate Tribunal-Powers-Power to remand must be exercised judicially-Order of Tribunal is affirmed. [S. 260A]

S. 254(1) : Appellate Tribunal-Powers-No power to dismiss on ground of non-prosecution-Duty to dispose appeal on merits-Tribunal was directed to restore the appeal and decide on merit. [S. 253, ITAR, 1963, R 24, Art. 265]