S. 271(1)(c) : Penalty-Concealment-Depreciation-levy of penalty is not justified. [S. 32, 8HHC]

S. 260A : Appeal-High Court-Observation that certain grounds are not pressed-Directed to file rectification application before the Income-tax Appellate Tribunal. [S. 254(1), 254(2)]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Penny stock-Monetary limits for appeals by department-Appeal not filed in terms of Special order of Board-Dismissal of appeal due to low tax effect-Order of Tribunal is affirmed-Writ of revenue is dismissed. [Art. 226]

S. 240 : Refund-Appeal effect order-Directions to refund with interest.

S. 226 : Collection and recovery-Modes of recovery-Attachment of properties and Bank accounts and stock-in-trade-Pendency of appeal before Appellate Tribunal-Directed to with draw attachment on deposit of 20 percent of demand-Bank directed to withhold 50 percent of deposits. [S. 153C, 226(3) 254(2A), Art. 226]

S. 158BD : Block assessment-Undisclosed income of any other person-Incriminating material is found-Amount received much before release of film-Addition of amount waived as undisclosed income-Held to be proper. [S. 132, 158BC]

S. 154 : Rectification of mistake-Setting Off of unabsorbed losses of earlier years-Rectification of order in accordance with supreme court ruling-Law laid down by Supreme Court binding. [S. 80HHC]

S. 148 : Reassessment-Objections raised-Not disposed by Assessing Officer-Matter remanded to the Assessing Officer to dispose of objections by speaking order [S. 143(2),147, Art, 226]

S. 148 : Reassessment-Notice-Participated in reassessment proceedings Final decision is not taken-Writ is premature-Dismissed. [S. 147, Art. 226]

S. 148 : Reassessment-Notice-Death of the assessee-Notice issued in the name of deceased-Assessment order and consequent notices are set aside. [S. 144B, 147, 221(1), 271(1)(b), Art. 226]