S. 154 : Rectification of mistake-Fringe benefits tax-Assessing Officer enhancing assessable fringe benefits by passing rectification order- Held to be not valid. [S. 115WE(3)]

S. 154 : Rectification of mistake-Amount received as rent by assessee who was not owner of properties-Rent passed on to owners-Tribunal holding assessee was not liable to deduct tax at source on such rents-Plausible View-Rectification proceedings holding assessee liable to deduct tax at Source-Not justified.

S. 147 : Reassessment–Search in premises of third party– Discovery that the assessee was not a genuine company –Notice for reassessment is valid. [S. 148]

S. 144 : Best judgment assessment–Additional ground in respect of non issue of notice u/s. 143(2) was raised first time before Appellate Tribunal – Remanding the matter to CIT(A) is held to be valid. [S. 143(2)]

S. 132 : Search and seizure-Retention of seized assets-Cash adjusted against demand on block assessment—Jewellery and fixed deposit receipts to be returned. [S. 153A]

S. 80IB : Industrial undertakings-Satisfied turnover stipulations for Small-Scale Industry-No question of law. [S. 260A]

S. 80IA : Industrial undertakings-Assessee has option to choose initial year- Entitled to notional carry forward of loss from that particular Year. [S. 80]

S. 80IA : Industrial undertakings–Apportionment of expenses between two sets of units—Deduction not exceeding gross total Income—Apportionment of expenses is valid.

S. 80IA : Industrial undertakings-Generation of power-Eligible unit—Consolidated balance-sheet and profit and loss account- Losses of earlier years of other two units of assessee cannot be notionally brought forward and set off against profits of eligible unit. [S. 80IA(5)]

S. 80HHC : Export business–Duty entitlement pass book credit- Entitled to take only net amount of sale value after deducting face value. [S.28(iiid)].