S. 219 :Credit for advance tax –Succession of business – Receipt on account of Mobilisation advance under work order when assessee was partnership — Succession by Company — Credit should be given to the assessee in subsequent year whenever receipt or part of receipt recognised as income by Company.

S. 153A : Assessment – Search-Undisclosed income- Without any incriminating material found in the course of search additions cannot be made –Deduction of claim u/s 80IB(10) which was allowed in the regular assessment proceedings cannot be disallowed .[ S.80IB(10) ]

S. 145 : Method of accounting – Works contract -Genuineness of expenditure was not in doubt – First year of business – Rejection of books of account is held to be not valid – Income declared of 7.44% is held to be justified .

S.145: Method of accounting –Without pointing out any specific defects in the books of account , rejection of books of account and estimating higher income is not justified .

S. 143(3) : Assessment – Amalgamation- Assessment in name of Company not in existence having amalgamated with another is liable to be cancelled as nullity being bad in law . [ S.263 ]

S.142(2A): Inquiry before assessment– Special audit– Complexity of accounts not shown —Special audit made only to overcome limitation — Order for special audit is held to be not justified .

S.92B: Transfer pricing- International transactions — Investment in share capital of subsidiaries outside India — Advancing towards investment and for expansion of business out of interest free funds — No interest can be charged — Not in nature of international transaction-Transfer pricing provisions is not applicable — Adjustment is not required .[ S.92C ]

S. 72 : Carry forward and set off of business losses -Assessment Order for earlier year pending in appeal — Assessing officer to pass consequential order with regard to set off of brought forward losses keeping in mind outcome of appeal .

S.68: Cash credits —Presumptive taxation- Retail business-Not maintain books of account – Return filed under presumptive taxation- Cash deposits in bank accounts of assessee — Returned income not matching presumptive rate of tax on gross turnover – Department to treat return as invalid — Addition cannot be made as cash credits [ S.44AF ]

S. 50B : Capital gains – Slump sale – Transfer of Hospital business — No Transfer of Land and building of Hospital — Not slump sale — Receipt on account of transfer of Hospital business taxable . [ S.2(42C) ]