S. 4 : Charge of income-tax – Compensation – Surrender of premises – Allocated flat as compensation to remove illegal occupant – The value of flat received by the assessee as compensation for removing nuisance shall constitute capital receipt – Not taxable. [ S. 2(24),54F, 56(2)(vii)( b )]

Prohibition of Benami Property Transactions Act, 1988
S. 4 : Prohibition of right to recover property held benami-Fiduciary capacity-Joint ownership suit property-known sources-Absence of documents evidencing existence of a fiduciary relationship and existence of corpus of funds made available by plaintiff from his/her known sources-Claim of ownership is barred. [S. 2(9)(A)(ii)]

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

S. 51:Pushishment for wilful attempt to evade tax-Return of income-Prosecution under section 51 cannot be dependent on completion of assessment, as offence, if proved, stands completed as soon as conditions as required under section 51(3) are fulfilled, irrespective of return of income-Writ petition to quash the proceeding is dismissed. [S.2(12), 10(1), 48, 51(3), ITACT, 1961, S. 6(6), 131(IA),132, Art. 226]

S. 271G : Penalty-Documents-International transaction-Transfer pricing-Prior to amendment in section 271G by Finance (No.2) Act, 2014 w.e.f. from 1-10-2014, TPO had no jurisdiction to impose penalty under section 271G for failure to furnish documents as required by section 92D(3)-SLP of Revenue is dismissed.[S.92D(3), Art.136]

S. 271C : Penalty-Failure to deduct at source-Action for imposition of penalty is initiated-Penalty proceedings were initiated on receipt of reference on 25-9-2014 and not on issuance of show cause notice on 4-8-2015-Order of penalty passed by Joint Commissioner (TDS) is barred by limitation. [S. 44AD, 260A]

S. 271(1)(c) : Penalty-Concealment-Not specifying the relevant portion of clause in penalty notice-Order of High Curt deleting the penalty is affirmed-SLP of Revenue is dismissed.[S. 274, Art. 136]

S. 271B : Penalty-Failure to get accounts audited-Delay in obtaining audit reports from statutory auditors under Kerala Co-operative Societies Act and Rules-Reasonable cause-Penalty order is quashed.[S.44AB, 273B]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-
Cash credits-Cash deposit-Demonetisation-Revision is held to be justified. [S. 68, 143 (3), 260A]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Transfer of shares-Capital gains-Colourable device-Dividend distribution tax-Merely recipient of income and was not entity which had either declared or paid dividend, revisionary proceedings were not justified-DTAA-India-Singapore [S. 45, 47(iv), 115-0, 260A, Art. 13]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Commercial substance-Royalty-Fees for technical services-Order of the Tribunal quashing the revision order is affirmed-DTAA-India-Singapore. [S. 9(1)(vi), 9(1)(vii), 260A, Art. 12]