S. 40(a)(ia) : Amounts not deductible-Deduction at source-Provision for expenses-No disallowance is to be made for failure to deduct tax at source-Tax was deducted when payment was made-Deletion of disallowance is justified. [S. 37(1), 145]

Voluntary Disclosure of Income Scheme, 1997 (Finance Act, 1997, (1997) 225 ITR 113 (St) (141)
S. 68 : Voluntary disclosed income not to be included in the total income-Voluntary disclosed income not to affect finality of completed assessment-Tax in respect of voluntary disclosed income not refundable-Assessee cannot seek to reopen assessment of income disclosed under scheme-Not entitled to refund of tax paid-Cannot disclose part of his income under scheme and disclose balance in a belated return. [S. 64, 69, 70, IT Act, S. 139, 264]

Benami Transactions (Prohibition) Act, 1988,
S. 24 : Attachment, adjudication and confiscation-Search and Seizure-Benami Transactions-Provisional Attachment of property-Order for continuation of provisional attachment till final order of adjudicating authority-Failure to provide opportunity of cross examination-Dismissal of writ petition-No statutory provision stipulating providing of cross-examination of w itnesses-No violation of Principles of natural justice-Writ petition dismissed-All contentions of appellants to be raised before adjudicating authority during proceedings. [S. 24(1), 24(4), 24(4)(a)(i), 26(3), IT Act, S. 132, Art. 226]

Gift tax Act, 1958.

S. 4 : Gifts to include certain transfers-Deemed gift-Valuation of shares-Lock-in period-Shares not quoted shares, although companies listed-Valuation to be according to Schedule III to Wealth-Tax Act taking restrictions on transfer into account. [S. 4(1)(a), 4(1)(b), 6(1), Wealth-Tax Act, 1957, Sch. III, Part A, R. 2(9), Part C R. 11), Part H, R. 21]

Black Money (Undisclosed Foreign Income and Assets) and Imposition Act, 2015

S. 50 : Penalty-Undisclosed Foreign income and assets-Offences and prosecution-Failure to furnish information relating to foreign income or assets in income-tax return-Time limit-Law applicable-Amendment of Section 139(5) with effect from 14-5-2016-Revised return can be furnished within one year of relevant assessment year or before completion of assessment-Revised return filed before expiry of limitation-Prosecution not valid. [S. 4, IT Act, 6, 132, 139(5) Code of Criminal Procedure, S. 200]

S. 276CC : Offences and prosecutions-Failure to furnish return of income-Compounding of offence not an absolute right but to be allowed based on facts and circumstances-Absence of assessee in India or communication gap between assessee and her representative not ground to quash prosecution. [S. 131(IA), 139(1), 276C(1), 278E, Code of Criminal Procedure, 1973, 200, 482]

S. 276C : Offences and prosecutions-Wilful attempt to evade tax-Search and seizure-Penalty affirmed by Tribunal-Order of Tribunal set aside by Court-Criminal prosecution quashed [S. 132, 271(1)(c), 276C(1), 276C(2), 276CC]

S. 275B : Offences and prosecutions-Search and seizure-Facility to inspect books of account-Documents-Wilful attempt to evade tax-Denial of adequate facility to the authorised officers empowered under section 132 of the Act were non-cognizable and bailable-Chief executive of the company a Chinees national with jo assets or family in India-Look-Out Circular-No extradition treaty with China-Individual being flight risk-Additional directions issued to deposit Rs 5 crores. [S. 132, 123(9B), 276C, 278B]

S. 275A : Offences and prosecutions-Prohibitory order-Contravention-Power to quash first information report-First information report could not be quashed. [S. 132(3), Code Of Criminal Procedure, 1973, S. 155(2)]