S.147:Reassessment —Notice under section 143(2) issued on same date as return filed in response to notice — Non-application of mind- Reassessment is held to be not valid [ S.143(2) , 148 ]

S.147: Reassessment —Amalgamation- Information of amalgamation was brought to notice of Assessing Officer —Reassessment proceedings against amalgamating company is held to be void ab initio . [ S.148 ]

S.147:Reassessment — After the expiry of four years- Depreciation- Reassessment is held to be not valid .[ 148 ]

S.147:Reassessment — After the expiry of four years- Depreciation- Reassessment is held to be not valid .[ 148 ]

S.147: Reassessment — Reassessment-After the expiry of four years- Before six years —Reasons vague and inconclusive — Reassessment not valid [ S.148 ]

S. 145A : Method of accounting – Valuation – Changed method -No need to apply changed method to opening stock of finished goods at beginning of previous year – Accounting Standard 2 .

S.143(3): Assessment – Ad -hoc addition- Weight and rate difference – Evidence not produced – Addition is held to be justified [ S.37(1) ]

S.115BBE: Tax on income -Unexplained money — Survey – Surrender of income as business income – Rate of tax — Source of excess cash, excess stock and unaccounted receivables not explained — Taxable at 60 per. Cent. [ S.68 , 69, 69A, 69C, 133A ]

S.92C: Transfer pricing – Reference to Transfer Pricing Officer —No Transfer pricing adjustment of more than Rs. 10 Crores for an earlier year – Reference invalid and consequential Transfer pricing adjustment invalid [ S.92CA ]

S. 80P : Co-operative societies – Registered under Karnataka Souharda Sahakari Act, 1997 —Entitled to deduction [ S.2(19) 80P(2), Karnataka State Sahakari Souharda Act, 1997 ]