S.254(1) : Appellate Tribunal- Duties- Ex parte order- Even if the assessee could not appear , the Tribunal could have decided the appeal on merits- The Tribunal ought to have restored the appeal on miscellaneous application filed by the assessee- Court also directed to send the copy of the Judgement to the President of the Tribunal as well as Law Secretary in the Ministry of law and Justice so that the same may be brought to the notice of all the Members of the Tribunal . [S.260A, ITATR.1963, R. 24 ]

Words and Phrases — “And” — “Or”.

Interpretation of taxing statutes-Retrospective Operation- Presumption of retrospective application of amendments of Procedural nature.

S. 254(1) : Appellate Tribunal-Duties-Capital or revenue-Tribunal Recording Inconsistent findings–Matter remanded to Tribunal for decision afresh. [S. 37(1), 260A]

S. 148 : Reassessment–Notice–Reasons for reassessment need not be given in notice-Writ is held to be not maintainable–Respondent was directed to furnish the recoded reasons from the receipt of order copy–Petitioner can file objection if any against the recorded reasons with n four weeks from the date of receipt of the reasons. [S.147, Art. 226]

S. 147 : Reassessment-Mixed question of facts and law- Writ is held to be not maintainable–Time limit for issue of Rs. 1 lakh of is applicable to S.149(1)(b) and not for S,149(1) (a) of the Act—Notice to reassessment issued within six years is not barred by limitation. [S. 148, 149(1)(a), 149(1)(b), Art. 226]

S. 147 : Reassessment-All material facts disclosed in the original assessment proceedings–Reassessment to verify cash intensive transactions is held to be not valid.[S. 148]

S. 147 : Reassessment-No objection raised-Deemed to have acquiesced to reopening assessment-Existence of alternative statutory remedy- Writ is held to be not maintainable. [S. 148, Art. 226]

S. 92C : Transfer pricing-Arm’s length price-Comparables-Question of fact–Appeal is not maintainable. [S. 260A]

S. 35 : Scientific research–Research may be carried on by faculty or students-Research need not produce results-Rejection of application for approval without applying proper guidelines is held to be not valid – Matter remanded. [S. 10(23C), 35(1)(ii)]