S. 12AB: Procedure for fresh registration – Denial of registration is justified if the trust had not complied with the applicable State law . [Form No .10AB , Rajasthan Public Trust Act , 1959 ]

S. 4 : Charge of income-tax – Notional income – Credited to profit and loss account – Accounting standard (Ind AS) – Cannot be assessed as real income .[ S. 143(1)(a), 154 ]

S. 276C : Offences and prosecutions-Wilful attempt to evade tax-Search-Revised return-Claims of deduction were not accepted-Would not amount to wilful evasion of tax.[S. 132,139(1), Code of Criminal Procedure, 1973, S. 482]

S. 272A : Penalty-Failure to answer questions-Sign statements-Furnish information-Penalty cannot be levied when the assessment is completed u/s 143(3)-Penalty is deleted.[S.272A(1)(d), 274]

S.271D: Penalty-Takes or accepts any loan or deposit-Cash received-Sale of rights in property-Property was registered in June 2016-Amendment is prospective-Specified sum explanation introduced with effect from 1-6.2015 [S. 269SS]

S. 270A:Penalty for under-reporting and misreporting of income-Charitable Trust-Depreciation on assets which are claimed as application of income-Bonfide error-Penalty is deleted.[S.270A(9)]

S. 270A : Penalty for under-reporting and misreporting of income-Not specifying the charge-Penalty levied for misreporting-Notice issued was under reporting of income-Levy of penalty is cancelled. [S. 274]

S. 270A : Penalty for under-reporting and misreporting of income-Excess depreciation claimed-Bona fide mistake-Penalty is deleted. [S. 139]

S. 270A:Penalty for under-reporting and misreporting of income-Rectification order-No penalty proceedings or any other proceedings can be initiated under the assessment order which stand merged in the rectification order.[S. 154, Art. 226]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Barred by limitation-Issue raised in the revision proceedings are different from re-assessment issue under section 147 of the Act-Time limit to be ascertained from 143(1) order and not under section 147 of the Act-Order is barred by limitation.[S.143(1), 147, 148]