S. 147 : Reassessment – Depreciation – Water supply and drainage – Allowed depreciation at 15%- Issue was subject matter of revision and considering the reply the revision proceedings were dropped – Reassessment is held to be not valid [ S. 32 , 148, 263]

S. 147 : Reassessment – Depreciation – Water supply and drainage – Allowed depreciation at 15%- Issue was subject matter of revision and considering the reply the revision proceedings were dropped – Reassessment is held to be not valid [ S. 32 , 148, 263]

S.147: Reassessment- After the expiry of four years- Product development expenditure – Capital or revenue – Reassessment is held to be bad in law [ S.37 (1) ]

S. 145 : Method of accounting – Change in revenue recognisation method – Held to be justified .

S. 144 : Best judgment assessment – Specific show cause notice was not issued in respect of proposed addition under section 69A of the Act and not other issues – Matter remanded to the Assessing Officer to redo the assessment [ S. 69A , 142 (1), Art , 226 ]

S. 143(1A ) : Assessment – Intimation -Amendment made to section 143(1A) by Finance Act, 1993 with retrospective effect from 1-4-1989 is constitutionally valid .

S. 115JB : Book profit – Disallowance u/s 14A were deleted – No adjustment could be made while computing book profit [ S.14A , R.8D ]

S.115JB: Book profit – Receipt in subsequent year – Rate of tax is same – Directed the Assessing Officer and pass the consequential order

S. 80IB(10) : Housing projects- Sale of flats to single or related persons – Amendment is prospective- Unaccounted income found in the course of search -Business income – Deduction cannot be denied [ S.80IB(10)(e), (f) ] S. 80IB(10) : Housing projects- Sale of flats to single or related persons – Amendment is prospective- Unaccounted income found in the course of search -Business income – Deduction cannot be denied [ S.80IB(10)(e), (f) ]

S. 80IA :Industrial undertakings – Lease rent income of industrial park is assessable as business income and eligible for deduction [ S. 22, 28 (i) ]

S. 8IA : Industrial undertakings – Manufacture – Process of converting raw urad into urad dhal is a manufacturing activity – Entitle to deduction .