S. 2(22)(e): Deemed dividend-Advance salary to director-Disallowance cannot be made.

S. 2(14)(iii) : Capital asset-Agricultural land-Capital gains-Failed to prove that distance from municipal limits exceeded 8 kms,-land constituted capital asset under section 2(14) and liable to capital gains tax.[S. 2(14),2(14)(iii)(b), 45]

S. 115BBE: Taxation of unexplained income – Amendment enhancing tax rate from 30% to 60% w.e.f. 01.04.2017 cannot be applied retrospectively to income of F.Y. 2016-17 – Law applicable on the first day of the assessment year governs assessment – Enhanced tax and consequential penalty provisions are prospective- Demonetisation- Cash deposited in Bank -Charge of tax- The enhanced rate of tax @60% came into force on 01.04.2017 and can apply only from that date, i.e. for financial year 2017-18 onwards. [S.4, 68, 69 to 69D, 271AAC, Taxation Laws (Second Amendment) Act, 2016, Art. 226)]

S.254(1): Appellate Tribunal – Powers – Condonation of Delay – Co-operative society – Appeal filed after 13 years – Delay caused due to bona fide belief that rectification would be carried out by the Department, change in managing committee, dependence on accountant and Covid-related disruptions – Delay condoned and matter restored for adjudication on merits.[ S. 80P(2)(d), 143(1), 249(3)]

S. 271(1)(c) : Penalty-Concealment-Failure to specify the charge-Levy of penalty was deleted. [S. 274]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny-Commissioner presumed that the Limited scrutiny case was converted into full scrutiny-Unsecured loan-Revision order was quashed.[S. 68]

S. 263: Commissioner-Revision of orders prejudicial to revenue-Application of income-Donation to another charitable trust-Revision order affirmed. [S. 11, 12A]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record-Penalty-Concealment-Without valid approval of Joint Commissioner-Miscellaneous application of revenue was dismissed. [S.271(1)(c)]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record-Tribunal held that amended provisions of section 115BBE are prospective in nature and not applicable for assessment year 2017-18-Miscellaneous application filed by revenue for rectification of said order of Tribunal was dismissed. [S. 68 to 69D, 115 BBE]

S. 254(1) : Appellate Tribunal-Powers-Settled under the Direct Tax Vivad Se Vishwas Scheme, 2024, read with sections 91 and 92 of the Finance (No. 2) Act, 2024-Declaration and particulars to be furnished-Pending appeal of assessee filed before Tribunal was allowed to be withdrawn. [Direct Tax Vivad Se Vishwas Scheme, 2024 read with sections 91 and 92 of the Finance (No. 2) Act, 2024, S.91, 92]