S. 132 : Search and seizure-Warrant of authorisation-Reason to believe-Accommodation entry-Warrant of authorisation to investigate trail of money paid-Detailed reasons recorded in satisfaction note-Bona fide opinion that assessee would not respond to summons in West Bengal-Warrant of authorisation valid. [Art. 226]

S. 119 : Central Board of Direct Taxes-Condonation of delay-Pending application-Circular dated 9-6-2015 (2015) 374 ITR 25 (St) prescribing limitation period of six years-Cannot have retrospective effect-Order Rejecting application on basis of circular set aside-Matter Remanded to Board. [S. 54EC, 119(2)(b), 154, 264, Art. 226]

S. 92CA : Reference to Transfer Pricing Officer-Arm’s Length price-Limitation-Reference and approval-Question of limitation is legal plea and can be raised at any stage-Existence of alternate remedy not bar-Writ is maintainable Participation of assessee in proceedings not a bar to challenging jurisdiction-The reference to the Transfer Pricing Officer had been made after the permissible period, the timeline had been missed by the Department at every stage. Therefore, as a sequitur, all further proceedings, in furtherance thereof were also bad in law-Decision of single judge set aside. [S. 144C, 153(1) Art. 226]

S. 80HHC : Export business-Turnover-Burden is on assessee to prove that royalty received from subsidiary company related to Export business-Royalty not to be included in turnover for computation deduction. [S. 80HHC(4)]

S. 68 : Cash credits-Sale consideration-Burden not discharged-Addition is justified. [Indian Evidence Act, 1872, S. 106]

S. 50B : Capital gains-Slump sale-Assets Transfer of undertaking-Not slump sale. [S. 45]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Debts barred by limitation do not cease to be debts-Not to be treated as income. [S. 28(i), Limitation Act, 1963]

S. 37(1) : Business expenditure-Electricity charges-Allowable as deduction.

S. 37(1) : Business expenditure-Capital or revenue-Laying pipelines for treatment of effluents of different industries-Amount spent in getting ISO certification-Revenue expenditure.

S. 36(1)(vii) : Bad debt-Amounts written off in the books of account-Order of Tribunal is affirmed-Allowable as deduction.