S. 272A : Penalty-Failure to answer questions-Sign statements-Furnish information-Illness of managing trustee of trust-Reasonable cause-Levy of penalty is not valid. [S. 139, 272A(2)(e), 273B]

S. 271G : Penalty-Documents-International transaction-Transfer pricing-Bench marking is accepted-Deletion of penalty is valid. [S. 92C, R. 10D(1)]

S. 271G : Penalty-Documents-International transaction-Transfer pricing-Valid satisfaction not recorded-Levy of penalty is not valid. [S. 92CA, 92D, 271(1)(c)]

S. 271BA : Penalty-Failure to furnish reports-International transaction-Transfer pricing-Bona fide belief-levy of penalty deleted. [S. 92CA, 92E]

S. 271(1)(c) : Penalty-Concealment-Disallowance of claim-mistakenly not added foreign exchange fluctuation amount to his income-Levy of penalty is not valid.

S. 271(1)(c) : Penalty-Concealment-Not specifying the charge-Bogus purchases-Levy of penalty is not valid. [S. 153A, 274]

S. 268A : Appeal-Monetary limit-Tax effect of quantum addition under dispute by revenue was less than prescribed monetary limit as fixed by relevant CBDT Circular, revenue’s appeal was to be dismissed.

S. 268A : Appeal-Monetary limit-Penny stock-Shown as business income-Long term capital gains-Appeal of Revenue is as withdrawn on account of low tax effect. [S. 45]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Transferred part of converted capital asset into stock-in-trade-failure to make enquiry-Revision is valid. [S. 45, 48]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Higher rate of depreciation-Non-mentioning of specific reasons for accepting explanation of assessee by AO in assessment order-Revision is not valid. [S. 32]