S. 147 : Reassessment-Bogus transactions-Accommodation entries-bogus long term capital gains-Sale of shares-Report by investigation wing–Search of third person-Reasons can be explained further in affidavit-Reasons Can Be Explained Further In Affidavit—Notice of reassessment is held to be valid. [S. 45, 148, 153A(1)(b), Art. 226]
S. 147 : Reassessment-Report of Investigation wing of Income-Tax Department-AO analysing report and forming belief that income had escaped assessment-Reassessment notice is valid. [S.148, Art. 226]
S. 147 : Reassessment–Based on facts of later assessment year– Tangible material-Reassessment is held to be valid-Income derived from installation and maintenance of Atm Machines—Not entitled to deduction u/s. 80IA. [S. 80IA, 143(1), 143(3), 148]
S. 147 : Reassessment-Capital gains–Cash sales-Failure to disclose material facts – Notice of reassessment is held to be valid. [S. 45, 48 148, Art.226 ]
S. 147 : Reassessment-Notice-Non disposal of assesses objections-Direction u/s 144A-Assessment without disposing the objection is held to be bad in law-AO is directed to pass the reasoned order after considering the objection. [ S. 144A, 148, Art. 226]
S. 147 : Reassessment-After the expiry of four years-Amounts not deductible-Deduction at source–Objection by audit party– Reassessment at the instance of the Audit officer is held to be bad in law. [S. 40)(a)(ia), 148]
S. 147 : Reassessment-After the expiry of four years-No duty to disclose investments-Notice for failure to disclose investments is held to be not valid.[S. 148, Art. 226]
S. 147 : Reassessment-After the expiry of four years-Without there being any element of lack of true and full disclosure on the part of the assessee-Reassessment notice is held to be bad in law. [S. 115-O, 148]
S. 145A : Method of accounting – Valuation – Excise duty though not paid is liable to be included in valuation of closing stock. [S. 145A(b)]
S. 145 : Method of accounting–Suppression of sales-Revenue was not able to show any defect in assessee’s records or in books of account maintained by assessee-Rejection of books of account is held to be not justified-Deletion of addition on account of suppression of addition is held to be justified. [S. 43CA, 50C, 145(3)]