S. 147: Reassessment -Additional ground-Reassessment proceedings initiated solely on the basis of NMS, without any independent verification, tangible material, or proper satisfaction recorded by the AO, would not confer valid jurisdiction under section 147-Initiation of reassessment proceedings under section 147 was void ab initio. [S. 115A, 139, 148, 194LD, 254(1)]

S. 147: Reassessment-Validity of addition on new issue -Assessment reopened for escapement of salary income, but addition made on account of Recurring Deposit Investment -Addition was deleted. [S. 148]

S. 145 : Method of accounting-Revenue recognition -Derecognition of income in books -Addition sustainable. [S.28(i)]

S. 144C: Reference to dispute resolution panel Reassessment -Limitation -Non-resident-Extended limitation under S. 153(4) available only where reference is made to Transfer Pricing Officer -Reassessment beyond prescribed period invalid. (S. 92CA, 144C, 148, 153(2), 153(4)

S. 143(1): Assessment -Intimation-Issue of notice -Denial of exemption-No adjustment shall be made unless prior intimation of the proposed adjustment is given to the assessee-Matter restored to CIT(A). [S. 11(1)(d),12A, 143(1)(a)]

S. 92C : Transfer pricing -Arm’s length price-Avoidance of tax-International transaction-Selection of comparables -Companies engaged in diversified activities without segmental results-Functionally not comparable –Addition was deleted. [S.92CA]

S. 92C: Transfer pricing -Arm’s length price-Avoidance of tax-International transaction-Selection of comparables-No estoppel-Assessee is not estopped from seeking exclusion of company originally selected in TP study.[S.92CA]

S. 92B: Transfer pricing -International transaction-Arm’s length price-Avoidance of tax-Lending or Borrowing / Capital Financing-Delay in receipt of receivables beyond a reasonable credit period partakes the character of an advance and results in an international transaction in view of the Explanation to section 92B(2), which can thereafter be subjected to computation of notional interest. [S. 92C]

S. 80G: Donation-Approval -Application for final approval -Application filed six months before expiry of provisional approval -Within limitation. General principles-Rules of procedure are intended to advance justice-Tribunal quashed the order and restored the matter to the CIT E) to consider the application on merits after granting an effective opportunity of hearing. [S.80G(5)]

S. 80G: Donation-Approval -Application under wrong sub-clause -Curable defect -Commissioner (Exemptions) must permit rectification -Approval cannot be denied for technical error-Duty of Officers to assist assesses in obtaining relief to which assessee entitled-CBDT Circular No. 14 (XL-35), dated 11-4-1955 [S.12A, 80G(5) S. 119)]