S. 147 : Reassessment-After the expiry of four years-Search and Seizure-Trust-Wholly-Capitalisation fee-Statement of managing trustee under oath accepting receipts of capitation fee-Order of Settlement Commission for subsequent year-Order of Tribunal quashing the reassessment is held to be erroneous and set aide.[S. 10(23C)(iv), 11, 12, 12A, 12AA, 132, 148, 245D(6), 260A]

S. 147: Reassessment-After the expiry of four years-No failure to disclose material facts-Change of opinion-Notice and order disposing the objection is quashed-Delay of 429 days in filing SLP. SLP of Revenue is dismissed as the reasons assigned for explaining the delay are neither satisfactory nor sufficient. [S. 148, Art. 136]

S.143(3): Assessment-Transfer Pricing-Arm’s length price International Transactions-Limitation-Service of notice-Order of Transfer Pricing Officer is not signed digitally or manually before limitation Circular dated February 2018 (2018) 401 ITR (St) 176-Order is not valid.[S.92C, 119, 144C, Art. 226]

S.143(3): Assessment-Income above 30 lakhs-Validity of notice issued u/s 143(2)-Instruction of CBDT 1 of 2011-Defective notice-Notice and proceedings invalid. [S.119, 143(2)]

S. 143(3): Assessment-Rejection of books of account-Business Expenditure-Deduction of tax at source-Failure to substantiate expenditure with documentary evidence-Assessment of income at 12 Per Cent-On total disclosed revenue based on material available on record brought to knowledge of Assessee in notice-Writ petition is dismissed-All contentions of assessee is left open to be raised before Appellate Authority.[S. 40(a)(ia), 144B, 194C, 270A, Art. 226]

S. 143(3): Assessment-Rejection of books of account-Business Expenditure SLP against dismissal of writ petition is dismissed-Clarified that in the event the assessee filed an appeal, the Commissioner (Appeals) shall examine all issues and contentions on the merits without being influenced by any of the observations made by the High Court. [S. 40(a)(ia), 144B, 194C, 270A, Art. 136]

S. 139 : Return of income-Revised return of income-Bar of limitation-Revised return was filed after expiry of prescribed time-Tribunal directing Assessing Officer to consider Assessee’s claim made in revised return-Order of Tribunal is set aside-Order of Assessing Officer confirmed by Commissioner (Appeals) is restored. [S. 139(5), 143(1)(a), 143(2), 254(1), 260A]

S. 139 : Return of income-Revised return of income-Bar of limitation-Revised return was filed after expiry of prescribed time-Tribunal directing Assessing Officer to consider Assessee’s claim made in revised return-Order of Tribunal is set aside by the High Court-Order of Assessing Officer confirmed by Commissioner (Appeals) is restored-Appeal of assessee is dismissed. [S. 139(5), 143(1)(a), 143(2), 254(1), Art. 136]

S. 132B : Application of seized or requisitioned assets-Search and seizure-Strictures-Return of seized cash-Inordinate delay in returning seized cash-Clear case of high handedness on the part of the officers of the Revenue-Entitled to interest on amount returned-SLP of Revenue is dismissed.[S. 132, Art. 136]

S. 119 : Central Board of Direct Taxes-Circular-Charitable Institution-Failure to file Audit report with return of income-Up loading the audit report was.2.5 years-Condonation must be given liberal interpretation-Commissioner has power to condone delay-The order rejecting the application is quashed and the delay is condoned-The Respondent is directed to pass an appropriate order in accordance with law. [S. 11, 12A, 119(2(b), Form Np 10B, Art. 226]