S. 220 : Collection and recovery – Stay of demand- Assessee deemed in default –Order confirmed by CIT (A) – Discretion of revenue to grant stay subject to deposit of specified percentage of disputed Amount — Assessee cannot insist on such percentage – Recovery of amount before expiry of period of limitation prescribed for filing an appeal before the Tribunal is held to be valid. [ S. 225,226, 253(3) ]

S. 153C : Assessment – Income of any other person – Search – Search took place prior to date of amendment- Burden is on department to prove seized documents belonged to assessee — Statement of searched party containing information relating to assessee- Documents are not belonging assessee- Wrongly assumed jurisdiction- No question of law . [ S. 68 ,132(4) ]

S.147: Reassessment —Change of opinion- Information was furnished in the original assessment proceedings -Reopening of assessment on same issue amounts to change of opinion hence untenable — Amounts To Change Of Opinion and untenable. [ S. 148 ]

S. 147 : Reassessment -Bogus purchases – Manufacture of diamonds – Information received from Director (Inv)- Statement of searched party – Not discharging the burden – Natural justice -No prayer was made by the assessee before the Assessing Officer to summon Pravin Jain for his cross-examination- Reassessment is held to be valid.-On merit the Tribunal confirmed the addition of 15% of alleged bogus purchases .[ S.10AA, 132(4) , 148 ]

S. 147 : Reassessment- Change of opinion- Export receivables could be written off during the pendency of the application for approval from the Reserve Bank of India- Claim of bad debt was allowed after scrutiny – Reassessment is held to be not valid .[ S. 36(1)(vii) ,148 ]

S. 147 : Reassessment -Export business- No new material- Notice under direction of Commissioner-Reassessment is held to be not valid. [ S80HHC, 148 ]

S. 143(3) : Assessment – Matter remanded by the Tribunal with the direction to grant an opportunity of cross examination- Not giving an opportunity of cross examination – Writ against the order is not maintainable – Issue could be raised in appellate Proceedings . [ S. 35(1) (ii), 246A(1)(a), 250(4) , 254(1) Art .226 ]

S. 64 : Clubbing of income – Minor child – Provision coming into force with effect from 1-4-1976 cannot be given retrospectivity and be made applicable to previous accounting year 1975-76 corresponding to assessment year 1976-77 [ S. 64 (1) (iii) ]

S. 54F : Capital gains – Investment in a residential house –Transfer includes extinguishment of rights – Agreement to sell land and purchaser given possession in August 2010 — Sale deed executed in July 2012 — Purchase of residential house in April 2010 —Entitled to exemption. [ S.2(47)iii) , 45,54F ]

S. 54B : Capital gains – Land used for agricultural purposes – No proper finding regarding character of land – Matter remanded . [ S. 45 , 254(1), Bombay Tenancy and Agricultural Lands Act , S. 43, 63 ]