S. 226 : Collection and recovery-Modes of recovery-Appeal pending before CIT (A)–Upon payment of Rs.15 lakhs-Garnishee proceedings lifted. [S. 226 (3)]

S. 158BFA : Block assessment–Penalty-Undisclosed income-Not disclosed in the return–15% of undisclosed receipt was added as undisclosed income–Penalty is leviable. [S. 158B(b), 158BC]

S. 158BC : Block assessment-Undisclosed income—Does not mean entire undisclosed receipts—Tribunal justified in estimating 15% percentage of undisclosed receipts as undisclosed income. [S.158B(b)]

S. 147 : Reassessment-Claim for deduction cannot be made in Reassessment—Limitation- Not barred by limitation.[S. 149]

S. 147 : Reassessment-Notice based on appellate order-Documents showing share transactions were not genuine–Stockbrokers had elucidated on the sham and bogus nature of the share transaction- Matter remanded. [S. 68, 148]

S. 147 : Reassessment-Certificate was not produced -Inadvertently the deduction was allowed-Based on earlier years appellate order reassessment is held to be valid. [S. 80HHC, 148]

S. 147 : Reassessment—Change of opinion—Provision for diminution in the value of an asset and provision for doubtful debts-Held to be bad in law. [S. 115JB, 148]

S. 147 : Reassessment-After the expiry of four years-Transfer of asset to subsidiary-Subsequent transfer by subsidiary to third party -Transaction was disclosed in the original assessment proceedings- Re assessment is held to be not valid. [S. 148]

S. 145 : Method of accounting-Mercantile system-Legal steps taken for enhancement of rent -Rent claimed before the arbitrator should be shown as accruing when the matter is pending before the Arbitration. [S. 22, 23]

S. 145 : Method of accounting—Construction business–Percentage completion method–Brokerage expenditure–Allowable in the year when the expenditure is incurred. [S. 37(1)]