S. 10(38) : Long term capital gains from equities – Sale of shares – Taxable loss cannot be set off against income from tax under Chapter III- Short term capital loss arising on sale of shares cannot be set off against long term capital gains from sale of shares which are exempt u/s 10(38)- Revenue was not justified in disallowing assessee’s claim for carry forward of loss. [ S. 45 ]

S.69A: Unexplained money – Demonetization – AIR information -Amount deposited to bank from earlier withdrawals – Addition was deleted – Cash Deposits in Partnership Firm’s bank Account – Amount transferred to partner’s account as withdrawal from capital –Addition cannot be made in the hands of partner . [ S. 2(31)iv),133(6)] S.69A: Unexplained money – Demonetization – AIR information -Amount deposited to bank from earlier withdrawals – Addition was deleted – Cash Deposits in Partnership Firm’s bank Account – Amount transferred to partner’s account as withdrawal from capital –Addition cannot be made in the hands of partner . [ S. 2(31)iv),133(6)]

S. 11 : Property held for charitable purposes – Education – Study and promote the latest development in the filed of Architecture – Mere surplus arising as a result of charitable activities the Institution does not cease to be a charitable institution – Entitle to exemption. [ S. 2(15), 12A, Architect Act , 1872 ]

S. 271G : Penalty-Documents-International transaction-Transfer pricing-Transactional Net Margin Method-Bifurcation of profits-Failure to furnish the details-Deletion of penalty is held to be valid. [S. 273B, R. 10D(1)]

S. 271BA : Penalty-Failure to furnish reports-International transaction-Transfer pricing-Reasonable cause-Penalty cancelled. [S. 92E, 273B]

S. 271(1)(c) : Penalty-Concealment-Relevant limb specifying charge not struck off-Penalty not leviable.

S. 271(1)(c) : Penalty-Concealment-Valuation of closing stock-Less than cost price-Levy of penalty was quashed.

S. 271(1)(c) : Penalty-Concealment-Bonafide mistake-Claim with respect to Long term capital loss.

S. 271(1)(c) : Penalty-Concealment-Non-striking off of relevant limb-lack of recording proper satisfaction by AO whether there was concealment of income or furnishing of inaccurate particulars of income by the Assessee-Non application of mind by AO-Levy of penalty is not valid. [S. 274]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Interest on borrowed capital-Loans utilised for purchase of properties and assets-Revision is held to be not valid. [S. 36(1)(iii)]