S. 32: Depreciation – Asset purchased from and leased back – Entitle depreciation -Assessment – Direction of the Tribunal to follow the Judgement of Special Bench – While giving effect High Court decided contrary to the Judgement of Special Bench – Assessing Officer is bound to follow the order of High Court -Asset purchased from and leased back – Entitle depreciation – Business expenditure – Amount paid fees paid to ITC Classic Finance Ltd has direct nexus with acquisition of the machinery from RSEB – Allowable as deduction . [ S. 50, 143(3), 254(1)]

S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Order passed without considering the replies of the assessee – Assessed income was Rs 10, 07 05, 88, 04 , 543 ) Rupees One lakh seven hundred and five crores eighty lakhs four thousand five hundred and forty -three only) – Information to suggest – arbitrary, cryptic and without application of mind – not considering the response of the Assessee – Mechanical approval – Order under section 148A(d) set aside to the stage of the show cause Notice. (S. 147, 148 , 148A(b), 151 , Art , 226 ]

S. 90: Double taxation relief – Long term capital gains – Transfer of shares – Beneficial Owner – cannot be assumed or inferred – AO to decide whether the concept of “beneficial owner” is inbuilt in the scheme of Article 13 – Matter remanded – DTAA-India – Mauritius. [ S. 143(3),154 , Art . 10, 11 , 13(4) ]

S.37(1): Business expenditure – Referral commission paid to doctors – Violation of the professional conduct- Not allowable as deduction. [ Indian Medical Council ( Professional Conduct Etiquette and Ethics ) Regulations 2002, R. 6.8. 1(d) ]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Pendency of appeal before CIT(A)-Commissioner can assume jurisdiction under section 263 in respect of issues which have not been considered and decided by Commissioner (Appeals)-Cash credits-Accommodation entries-Revision is held to be valid. [S. 68, 148]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Order passed by the Assessing Officer of a different jurisdiction-Assessment order was passed on basis of an invalid and non est notice, it could not be countenanced in law, and consequently, revisional action is not permissible hence not valid. [S. 127, 143(2), 143(3), 292BB]

S. 250 : Appeal-Commissioner (Appeals)-Procedure-Principle of natural justice-Dismissal of appeal without granting right to be heard-Matter remanded [S. 154]

S. 250 : Appeal-Commissioner (Appeals)-Procedure-Failure to attend on specified date-Failure to consider additional evidence-Order was set aside and directed to pass speaking order. [S. 251]

S. 244A : Refund-Interest on refunds-Excess tax deduction at source–Entitled to interest on refund of excess deduction of tax at source under section 195 of the Act.

S. 194J : Deduction at source-Fees for professional or technical services-Transaction charges-TDS is deductible under section 194I and not under section 194J [S. 194I]