S. 145 : Method of accounting–Inclusive method–There is no need to credit separately made on account of excise duty to the profit and loss account.

S. 145 : Method of accounting–Percentage completion method– Corresponding expenditure incurred in relation to unbilled sales–Sales include sub contract charges-Provision to be made–Rule of constancy to be followed.

S. 145 : Method of accounting-Works contract tax(TDS)-When sale is offered corresponding amount of works contract is allowable as deduction. [S. 37(1)]

S. 143(3) : Assessment-Unaccounted sales–Addition can be made only after the consideration of purchases and ancillary expenses-Addition is restricted to only profit margin.

S. 143(3) : Assessment–Ad hoc addition-No understatement by assessee-Addition on ad hoc basis at 50% is held to be not sustainable.

S. 133A : Power of survey-unaccounted receivables–Surrender of income Deemed income-Categorization/characterization of income surrendered-business income-Set off of losses was to be allowed [S. 69A 69B]

S. 133A : Power of survey-Undisclosed income-Loose papers-Bona fide mistake by director in surrendering income-Set off of expenditure is allowable. [S. 115BBE]

S. 127 : Power to transfer cases-Opportunity of hearing–Assessee’s case was transferred from one AO to another AO having offices in different localities/places, notice had to be given to assessee-Order is held to be void ab initio and barred by limitation. [S. 127(1), 143(2), 292B]

S. 115O : Domestic companies-Tax on distributed profits–Charging section –No need for issuance of notice before making a demand–Profits distributed to share holders is deemed to be dividend-Reduction on share capital can be effected by buying back shares–Advance Ruling cannot be given if an enquiry is pending against the assessee-Writ will not normally be issued if there is alternative remedy-Liberty is given to file an appeal. [S. 2(22), 245R, 246A, Art. 226 Companies Act,1956 S. 391, 393]

S. 115J : Book profit–Only the adjustments to the extent provided in the Explanation to S. 115 can be made. [Companies Act, 1956]