S. 254(2A): Appellate Tribunal-Stay-Cash credits-Prescribing 20 Per Cent. predeposit of demand Income-Tax-Thirty Per Cent. of demand paid by assessee-Order of High Court is modified granting stay of recovery pending appeal to Tribunal-Tribunal is directed to decide appeal on merits without being influenced by observations of High Court.[S. 68, 220(6), Art. 136]

S. 246A : Appeal-Commissioner (Appeals)-Stay of demand-Not proved prima facie case-Condition of pre deposit of 20 Per Cent. of demand for grant of stay discretionary-Financial stringency not proved-Writ petition is dismissed. [S. 156, 220 (6), Art. 226]

S. 245D : Settlement Commission-Settlement of cases-Procedure-Application-Search and seizure and Survey-Disclosing unaccounted income-Order of settlement Commission on basis of volumetric report of person not qualified and incompetent to evaluate mined ore submitted by department is unsustainable-Withdrawal of writ petition against survey proceedings with liberty to pursue issue of volumetric report before Settlement Commission-No presumption of estoppel against assessee by withdrawal of writ petition-Assessment of undisclosed income can be done only with reference to incriminating material recovered from search and not post search material-Report stating inaccuracies of report prepared by incompetent person and submitted by Department-Dismissal of statutory mining plan prepared under mines and minerals (Development And Regulation) Act, 1957 and approved by IBM-Order of Settlement Commission erroneous-Matter remanded to Settlement Commission.[S. 132, 132, 133A, 153A, 245C, 245D(4) Mines And Minerals (Development And Regulation) Act, 1957, Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Grant of approval without application of mind-Benefits of giving opportunity of hearing after issue of initial notice under Section 148A(b)-Order passed under Section 148A(d) without giving requested opportunity of hearing-Approval by Principal Commissioner without application of mind-Order and consequent notice is set aside. [S. 147, 148, 148(A)(b) 148A(d), 149(1((b), 151, Art. 226]

S. 260A : Appeal-High Court-Precedent-Reference decided in favour of assessee-Appeal of Revenue is dismissed-Not establishing public interest on divergence of opinion among High Courts or Just Cause-Appeal is dismissed-Business income-Interest on securities-Business income-Business expenditure-Salaries and perquisites-Disallowance is to be restricted to expenditure apportioned under profits and gains of business or profession and not under head interest on securities.[S. 18, 20(1(i), 28, 36, 37(1), 40A(5), Art. 136]

S. 245C : Settlement Commission-Settlement of cases-Payment of taxes and interest-Evidence of payment-Rejection of application is not valid. [Art. 226]

S. 220 : Collection and recovery-Assessee deemed in default-Pendency of appeal-Purchase transaction-Bogus purchase-Not liable to submit seller’s stock register-Not liable to pay 25 Per Cent of demand.[S. 37, 156, 220(6), 250, Art. 226]

S. 153A: Assessment-Search-Reassessment-Completed or unabated assessments-Limitation-Liberty given to Revenue cannot be construed to have given liberty to Revenue from obligation to establish that reassessment proceedings are otherwise in accordance with law-Reassessment notice under section 148 and the consequential proceedings under section 147 were quashed. [S. 132, 147,148, 149(1), 150, 153C, Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notices and orders not mentioning name and designation of concerned officers-Notices and orders are set aside.[S. 147, 148, 148A(b), 148A(d), 282A, Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Principle of natural justice-Sufficient opportunity to be heard is not given-Order is not valid [S. 147, 148, 148A(b), 148A(d), Art. 226]