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1. Interest under Section 158BFA(1) - No authority has power to reduce or waive the interest levied under Section 158BFA for the block assessment - HC

2. Penalty under Section 158BFA (2) is not mandatory. - HC

3. Penalty u/s 271B - imposition of penalty u/s 271B is discretionary not mandatory as word used in section is "may" - no penalty if there is existence of reasonable cause.

4. Penalty u/s 158BFA - Block assessment - De hors the surrender, there is no evidence which could have been said to have been found as a result of the search and,...

5. Levy of penalty under section 158BFA(2) is discretionary and not mandatory - Undoubtedly, there was some material found during the course of search and additional income...

6. Validity of block assessment u/s 158BC – Order beyond period of limitation or not –issuance of notice u/s.143(2) is a mandatory requirement - AT

7. Levy of penalty u/s 158BFA(2) - penalty has been levied on the amount of undisclosed income without providing any working of maximum and minimum penalty leviable - No penalty - AT

8. Penalty u/s 11AC - Interest u/s 11AB - interest and penalty are imposable and there is no discretionary power vested with the authorities for waiving the same.- HC

9. Penalty proceedings - Commissioner is not justified in exercising his suo motu powers to interfere with a discretionary order passed by the original authority to impose...

10. Confirmation of penalty u/s 158BFA(2) of the Act – Furnishing of inaccurate particulars - U additons have been upheld on estimation basis , thus, no penalty is leviable - AT