S. 115-O : Domestic companies-Tax on distributed profits-Non-Obstante clause-Overriding effect-Amount distributed or paid by way of dividend falls under the category of profits under section 50 of the SIDBI Act-Not liable to pay additional tax. [SIDBI Act, S. 29(2), Unit Trust India Act, 1963, S. 32]

S. 72 : Carry forward and set off of business losses-Delayed furnishing of ITR-V-Order of Tribunal allowing the carry forward of losses was affirmed. [S. 80, 139]

S. 37(1) : Business expenditure-Estate developer-Payment made to settle the dispute to clear the title-Joint venture agreement-Tribunal has no power to rewrite the agreement-Allowable as deduction.

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny-Order passed by the Assessing Officer cannot be revised on an issue which was not taken up in limited scrutiny. [S. 68, 115JB, 143(2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny-Order passed by the Assessing Officer cannot be revised on an issue which was not taken up in limited scrutiny. [S. 143(2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Allotment letter prior to AY. 2014-15-Registration was on 9th December, 2014-Provision of section 56(2)(vii)(b)(ii) is not applicable-Revision is held to be not valid. [S. 56(2)(vii)(b)(ii)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Revision order passed on the basis of recommendation of Assessing Officer has no statutory sanction-Order is bad in law. [S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Reference to dispute resolution panel-Order passed without complying the mandatory procedure prescribed u/s.144C is non-est-Order which is a nullity and non-est cannot be a revised. [S. 144C, Art. 14, 21]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Investment in new pant or machinery-Possible view-When an amendment is made to clarify or remove the hardship, the same is to be treated as clarificatory and it should be applied with retrospective effect-Revision is held to be not valid. [S. 32AC, 143(3)]

S. 154 : Rectification of mistake-Expenditure-Allowance-Loss of current year can be set off against income declared u/s 115BBD-Tax on certain dividends received from foreign companies-Debatable cannot be rectified. [S. 115BBD, 143(1)]