S. 263 : Commissioner – Revision of orders prejudicial to revenue – TDS Mismatch – PCIT has issued show cause notice for seven issues and passed the revision order – Appellate Tribunal quashed the revision order after discussion all seven issues [ S .4 ,14A 37(1) 40A(2) 41(1) 43(6) 48 , 50C ,80IC ,92CA ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Bad debt – Penalties – AO has called the relevant details in the course of assessment proceedings which were filed – Order of revision is held to be not valid . [ S.36(1) (vii) 37(1), 43B ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Investment Bonds – Month means calendar month and not period of 30 days – Period of six months is to be considered as six calendar months and not 180 Days- Entitle to exemption – Order is not erroneous [ S.54EC ]

S. 254(2A): Appellate Tribunal –Stay- CIT (IT ) had already granted stay on collection of disputed demands till disposal of appeal on condition that assessee paid 30 per cent of demand- Order of stay being in a reasonable manner ,order is affirmed . [ S.143(3) 144C]

S. 194H : Deduction at source – Commission or brokerage – Credit card gateway facility – On line booking of tickets- Not liable to deduct tax at source as charges taken by bank and credit card agencies for providing facilities .

S. 194C : Deduction at source – Contractors – Passenger service fees – Airlines collecting security component and facilitation component from its customers and paid same to airport authority- liable to deduct tax at source as per provision of S.194C. [ S. 194J ,196, 201(IA ) ]

S. 154 : Rectification of mistake – Speculation business- Brought forward loss of earlier years were rightly set off against speculative business income for the year- No mistake apparent from record in assessment order. [ S.73 ]

S. 153A : Assessment – Search- No incriminating evidence was found or seized during course of search- Additions/disallowances on basis of a tax evasion petition found much after search was unjustified [ S.132 ]

S. 143(3) : Assessment – Profit on sale of property used for residence – Capital gains -Exemption was not claimed in the return however claimed under wrong section in the course of assessment -Merely because assessee claimed deduction under wrong provision of S. 54F assesses claim could not be disallowed if it was allowable under an appropriate provision-Entitle to exemption/s 54 of the Act . [ S.54 , 54F ]

S. 143(2) : Assessment – Notice – Notice issued after date of transfer was regarded as invalid notice – Assessment framed pursuant to illegal notice is held to be void ab initio .[ S.124, 127, 143(3) ]