S. 276C : Offences and prosecutions-Search cases-Failure to furnish return-Search and seizure-Block Assessment for Assessment prior to 1-1-1997-No provision for prosecution prior to that date-SLP of Revenue is dismissed. [S. 132, 158BC(a)(ii), 158BFA, 277, 278B, 278E, Art. 136]

S. 275A : Offences and prosecutions-Search and Seizure-Prohibitory order-Contravention-Bank Officials mistakenly reading order to extend to Locker also and permitting operation of Locker-Prosecution of Bank for offences of fraud, criminal breach of trust, misappropriation and conspiracy-Bank is a juristic person and question of Mens Rea did not arise-Nothing in first information report or complaint to show bank or its staff members had dishonestly induced someone to deliver any property to any person, and that Mens Rea existed at time of such inducement-No allegation of entrustment of property which bank had misappropriated or converted for its own use to detriment of Department-First Information Report or complaint not showing that bank and its officers acted with common intention or intentionally co-operated in commission of any alleged offences-Continuation of criminal proceedings against appellant-Bank would cause undue hardship to appellant-Bank-First information report is quashed-Prosecution against bank and its officials quashed-Order of High Court is set aside. [S. 131(IA), 132(1) 132(3), Code Of Criminal Procedure, 1973, S. 34, 37 120B 155(2)],201, 206 217, 406, 409, 420, 462]

S. 271G : Penalty-Documents-International transaction-Transfer pricing-Failure to furnish information or documents-Change In Law-Default occurring prior to date of amendment conferring jurisdiction on Transfer Pricing Officer to impose penalty-Transfer Pricing Officer had no jurisdiction prior to Amendment i.e on October 1, 2014-SLP of Revenue is dismissed. [S. 2(7A), 92D(3), Art. 136]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business expenditure-Prior period expenses-Revisional authority must come to a finding that order of assessment is both erroneous and prejudicial to Revenue-Writ petition against Revisional order is allowed. [S. 37(1) 143(3), Art. 226]

S. 260A : Appeal-High Court-Transfer pricing adjustment-Assessing Officer has given effect to the order of Tribunal-No substantial question of law survived for consideration. [S.92CA, 254(1)]

S. 251 : Appeal-Commissioner (Appeals)-Powers-Enhancement-Assessment cannot be enhanced without notice to assessee-Matter is remanded back to the file of CIT(A). [S. 250, 251(2)), 260A]

S. 245R : Advance rulings-Non-Resident-Entitlement to benefits under double taxation avoidance agreement-Transfer of shares-Transfer of shares in foreign company by non-resident assessee to another non-resident company-Treat shopping-Mere routing of investments through Mauritius cannot result in drawing adverse inference or raise presumption of illegality or treaty abuse-Order of Authority for Advance Rulings denying benefits illegal and unsustainable-Instructions of Central Board Of Direct Taxes-Certificate of residence issued by Mauritius Authorities would constitute sufficient and valid evidence-Circular No. 682, Dated 30-3-1994 (1994) 207 ITR (St) 7, Circular No. 789, Dated 13-4-2000 (2000) 243 ITR (St) 57-Applicant is not liable to tax on capital gains on transfer of shares to another non-resident-Treaty will prevail over provisions of Act-Legal Fiction Comprised In Article 27A-Subsidiaries have distinct and independent persona-Order of Authority for Advance Rulings holding that Article 13(3A) applicable only to sale of shares of resident company assessee not covered by Article 13(3A) is unsustainable-Economic substance-Assessee Transferring shares on which investments were made from capital contributions of its shareholders-Extent of investments, holding period and dividend declared to shareholders proving that contention of revenue that assessee lacked economic substance erroneous-Beneficial owner-Concept of beneficial owner gets attracted only if recipient of income or holder of asset mere depository-No finding that income controlled and regulated by third party-Allegation of revenue that sum earned from transfer of shares being beneficially held by assessee is misconceived and untenable-Resolution of Board-Power conferred on certain individuals to operate bank accounts-No payments authorised without concurrence of members of Board Of Directors-Merely because two members of board were connected with larger conglomerate it could not be held that assessees were reduced to mere puppets-Avoidance of tax-Company-Corporate entity-Non-Resident-Lifting of corporate veil-Department must first establish treaty abuse-Share transaction duly grand fathered by virtue of Article 13(3A)-Order of Authority For Advance Rulings holding that share transaction aimed at tax avoidance arbitrary and illegal-Assessee is entitled to benefits under Article 13(3A) of Double Taxation Avoidance Agreement-Interpretation of taxing statutes-Domestic legislation cannot be interpreted in manner to be in direct conflict with Double Taxation Avoidance Agreement provision or with over-riding effect over provisions of Double Taxation Avoidance Agreement-DTAA-India-Mauritius.[S. 45 90, 119,245R(2) Art.13(3) 13(3A), 27A]

S. 245C : Settlement Commission-Settlement of cases-Conditions-Additional conditions imposed by Central Board Of Direct Taxes through circular is not valid-Circulars cannot override provisions of Act.[S.119, 245D, Art.226]

S. 245C : Settlement Commission-Settlement of cases-Conditions-Case pending-Settlement Commission inoperative with effect from 1-2-2021-Establishment of Interim Board-Notification restricting filing of application before interim Board for settlement by assessees eligible on 31-1-2021-Settlement Commission legally existed till 31-3-2021-Last date mentioned in Notification should read as 31-3-2021-Orders rejecting applications quashed-Matters remanded to interim Board for consideration-Amendment in law-Legislative intent. [S.245A(b), Art.226]

S. 244A : Refunds-Interest on refunds-Non-Functionality of Department’s Portal-Amalgamation-Delay was not attributable to assessee-Entitled to additional interest-Interpretation of Taxing Statutes-Application of principles of equity. [S.153(5), 244A(1), 250, Art. 226]