S. 271AAA: Penalty-Search initiated on or after 1st June, 2007-Undisclosed income-Tax and interest paid-All conditions satisfied-Not mandatory-Discretion means sound discretion guided by law-Conditions under section 271AAA (2) satisfied-No penalty is attracted. [S. 132, 143(3), 271AA(1) 271AA(2), Art. 136]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-The part consideration on account of immovable property sold was not received as cheques dishonoured-The assessee did not offer Capital Gain to tax during the relevant assessment year-Pr. CIT found that the AO did not examine details regarding dishonour of cheques-Assessment Order to be erroneous in so far as prejudicial to the interest of the Revenue-Order of Tribunal is affirmed by High Court-SLP is dismissed-S. 263, Explanation 2(a). [S. 45, Art. 136]

S. 260A: Appeal-High Court-Substantial question of law-High Court asked to formulate the second question of law as proposed by the Revenue as one of the substantial questions of law where High Court had already admitted the first question of law. [S. 13(1)(c), Art. 136]

S. 237: Refunds-Direction to Revenue to refund excess tax paid by assessee-Such direction was duly complied with after adjusting self-assessed liability-SLP to be disposed of. [Art. 136]

S. 197 : Deduction at source-Certificate for lower rate-Non-Resident-Most Favoured Nation-Protocol providing for deduction at lower rate-Tax to be deducted at rate as provided in agreement-DTAA-India-Netherlands. [S. 9(1) (1), Art. 10, Art. 136]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Revenue itself wanted the Order under S. 148A(d) to be set aside with liberty to issue fresh notice under S. 148A(b)-Order of High Court rejecting Writ Application of the Petitioner thereby affirming the order under S. 148A(d) is set aside with liberty as prayed for. [S. 147, 148, 148A(b), 148A(d), Art. 136]

S. 80DD: Medical treatment of dependent-Disability-Amendment made to S. 80DD vide Finance Act, 2022 cannot be applied retrospectively to policies taken prior to 2014. [Art. 32, 142]

S. 68: Cash credits-SLP dismissed against High Court’s finding that additions were unjustified-Huge amounts deposited in foreign bank account in Geneva-Assessee pleaded that bank account belonged to nephew situated in UK-Assessee was an agriculturist and his name was struck from the bank account much prior to his visit to Geneva-SLP dismissed also on the ground of delay of 233 days, which was not explained properly.[Art. 136]

S. 68: Cash credits-AO made additions towards consideration received by assessee on sale of shares-Assessee had duly disclosed receipt of capital gains and offered for tax-No occasion for making addition-SLP to be dismissed on ground of low tax effect. [S. 153A, Art. 136].

S. 28(i): Business income-Capital gains-Delay of 752 days-Not satisfactorily explained-SLP of Revenue is dismissed on account of limitation. [S. 45, Art. 136]