S.147: Reassessment – After the expiry of four years – Change of opinion – Subsidy – Provision for expenses – Query raised during assessment proceedings – Reply filed – It is not necessary that the assessment order should contain reference or discussion in the assessment order -Order was quashed – Court observed that the order of disposal of objections in to 21 pages and referring 68 case laws without referring the issue under consideration – Faceless Assessing Officer has only wasted his time in writing unsustainable order on objections . [ S. 4, 37(1)), 143(3), 148 ,Art , 226 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -capital or revenue receipt – Subsidy – Order of the Assessing Officer accepting the receipt as capital receipt was ex facie erroneous and potentially prejudice to revenue – Order of the High Court remanding the matter to the Assessing Officer was affirmed [ S. 4 ]

S. 148 : Reassessment –Notice – No valid service – Reassessment was bad in law – Service of notice on Advocate , Chartered Accountant or an employee not authorised is not an valid service . [ S. 292BB , CPC 1908 Order ,5 ]

S. 147: Reassessment – Revenue directed to guidelines for reassessment – CBDT to issue guidelines to its officers based on the Order with clear instructions which are to be strictly followed. [S. 148 , 149, 150, 151, Art , 226 ]

S. 10A : Free trade zone – Export turnover – Communication expenses is to be deducted from both export turnover and total turnover.

S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Failure to file return within stipulated time-Issue of summons was only for one year-Reasons Remanded to the Commissioner for fresh consideration. [S. 139(1), 279(2), Art. 226]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Amortisation of preliminary expenses-Granted in initial year of expenditure-Deduction cannot be withdrawn in subsequent year. [S. 35D]