S. 220 : Collection and recovery-Assessee deemed in default-Stay-Pendency of Appeal before CIT (A)-Directed to deposit Rs. 2 lakhs and stay was granted till disposal of appeal. [S. 220(6), 246A]

S. 147 : Reassessment-Any hypothesis or contingency that may emerge in future-Protective addition-Reassessment is bad in law. [S. 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Housing project-Completion certificate issued within four years from date of obtaining permission-Re assessment is held to be bad in law. [S. 80IB(10), 148 Art. 226]

S. 48 : Capital gains-Computation-Industrial building-Failure to produce confirmation-Expenses in relation to cost of construction of gala is held to be not allowable as deduction. [S. 45, 260A]

S. 45(2) : Capital gains-Conversion of a capital asset in to stock-in-trade-Shares as investment-Valued the stock at lower of cost-Matter remanded to the Assessing Officer. [S. 45]

S. 45 : Capital gains-Business income-Dealing in land-Industrial building-Outright purchase and sale-Assessable as short term capital gains and not as business income-Question of fact. [S. 28(i), 260A]

S. 37(1) : Business expenditure-Real estate business-Forfeiture of advance-Allowable as business expenditure. [S. 28(i), 45]

S. 268A : Appeal-Monetary limit-Audit objection-Dismissal of appeal on account of below monetary limit is held to be not valid. [S. 254(1)]

S. 268A : Appeal-Lower than monetary limit fixed by Circular-Appeal was less than monetary limit of Rs. 10 lakhs fixed by CBDT Circular No. 21/2015, dated 10-12-2015.

S. 268A : Appeal-Monetary limit-Lower than monetary limit fixed by Circular No. 3/2018 dated 11-7-2018-Appeal was same was dismissed. [S. 80IB(10), 271(1)(c)]