S. 2(5B) : Charge of tax-Financial company-Transfer of distribution business to a new company-Matter remanded-Interpretation of taxing statute-Charging provision must be construed strictly. [S. 2(7)]

S. 281B : Provisional attachment-Power must not be exercised in an arbitrary manner-Recovery proceedings against assignee of Partner’s Share in firm-Provisional Attachment Of Property Of Firm is not valid-Interpretation of taxing statute-The golden rule of interpretation of statutes is that the statute has to be construed according to its plain, literal and grammatical meaning, unless it leads to absurdity. [Indian Partnership Act, 1932, S. 29]

S. 276C : Offences and prosecutions-Wilful attempt to evade tax-Self assessment-Default in payment of tax on time-Paying tax in instalments-No mala fide intention to evade tax. [S. 140A(3), 226, 276(2)]

S. 271C : Penalty-Failure to deduct at source-Interest on fixed deposits-Agra Development Authority-Statutory Body-Not liable to deduct tax at source-Levy of penalty is not valid. [S. 194A(3)(iii)(f), Uttar Pradesh Urban Planning And Development Act, 1973]

S. 271(1)(c) : Penalty-Concealment-Faceless penalty scheme-rejection of request for personal hearing-Order set aside. [S. 144B, 274, Art. 226]

S. 264 : Commissioner-Revision of other orders-Binding precedent-Subordinate Authority to follow the ruing of Higher Authority-Rejection of revision petition on ground that appeal pending in High Court on similar issue against order of Tribunal-Held to be not proper-Matter remanded for de novo consideration. [S. 260, Art. 226]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Order passed after enquiry-Order not erroneous-Free trade zone-Not necessary to maintain separate books of accounting for export unit-Circular and instructions-Binding on Income-Tax Authorities. [S. 10A, 119]

S. 254(2A) : Appellate Tribunal-Stay-Delay in proceedings not attributable to assessee-Tribunal has the power to grant stay even beyond period of 365 days. [S. 254(1)]

S. 245D : Settlement Commission-Limitation-Delay in passing order not due to assessee-Delay could be condoned. [S. 245D(4), 245HA(1)(iv)]

S. 245A : Settlement Commission-Cessation of Settlement Commission-Pendency of proceedings as on 31-1-2021-Constitutional validity of provision-Directions are issued to consider the applications by the Interim Board would be if the proceedings were pending as on January 31, 2021. [S. 245C, Art. 14, 19(1)(g), 20(2), 21, 226]