S. 2(22)(e):Deemed dividend- Director-Advance received for blocking deal of sale and purchase on behalf of the company for business transaction cannot be assessed as deemed divided.

S. 273A : Penalty – Commissioner – Power to reduce or waive -Long term capital gain shown as exempt in the original was accepted by filing the revised computation as income from other sources – Genuine hardship financially or in any manner was not proved -Rejection of application was held go be justified [ S. 10(38), 45, 56, 271(1) ( c ),273A((1)(4) ]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record –Net profit rate at 10% is applied – Followed the jurisdictional Bench decision and not the judgement cited by the assessee- Tribunal used jurisdictional discretion which cannot be rectified .

S. 245 : Refunds- Set off of refunds against tax remaining payable -Adjustment of the refund without following the ratio laid down by jurisdictional in Hindustan Unilever Ltd v. Dy CIT ( 2015) 377 ITR 281 ( Bom) (HC) and also speaking order is set aside .

S. 226 : Collection and recovery – Attachment of property—Limitation -Appeal – Ground that the recovery proceedings is now time barred is rejected on the ground that it was inappropriate for Tax Recovery Officer to continue proceedings for realization of tax arrears on account of pendency of proceedings challenging decisions taken by Tax Recovery Officer, irrespective of fact as to whether there was any interim order in such proceedings or not, while computing outer time limit provided for under sub-rule (1) of Rule 68B.[ Sch .II R. 11, 68B ]

S. 226 : Collection and recovery – Modes of recovery – As 20% of demand had not been deposited , assessee’s petition to stay of recovery is dismissed [ S.220(6), 226(3) ]

S. 220 : Collection and recovery – Assessee deemed in default -Waiver of interest – Principal amount of tax was not paid for over fourteen years – Rejection of waiver application for interest is held to be valid .[ S. 132,158BC, 220(2) ]

S. 197 : Deduction at source – Certificate for lower rate -Charitable trust – AO was directed to dispose the application expeditiously . [ S.11,12AA ]

S. 158BC : Block assessment – Search- Addition was made on the basis of seized material – Block assessment cannot be held to be invalid on the ground that the authorisation was not in the name of the assessee but the premises of the assesee – Neither AO nor Tribunal in appeal could examine warrant of authorization for purpose of examining whether there existed reasons to believe on material before competent authority to order search u/s 132(1) . Assessee has not disputed the panchanama prepared by the search team in the name of assessee- Block assessment is held to be valid . In the present case search and seizure was actually made on the premises on the premises of assessee and documents and material collected therefrom also pertain to it , therefore S.158BD is not attracted . [ S.132, 158BD ]

S. 153A: Assessment – Search-Documents seized revealed total expenditure that assessee incurred in respect of both his children was not disclosed in the return of income , addition confirmed by the Tribunal is up held . As both brothers have signed the panchnama there was no necessity of issuing notice u/s 153C of the Act . [ S.132 ]