S. 37(1) : Business expenditure –Capital or revenue – Ware house business – Expenditure for raising floor height of Godown – Expenditure incurred to run the business profitably is revenue expenditure.

S. 143(3): Assessment – Order passed in the name of non-existent amalgamating entity – valid. [ Companies Act, 1956, S. 394 , 481 ]

S. 143(3): Assessment – Order passed in the name of non-existent amalgamating entity – valid. [ Companies Act, 1956, S. 394 , 481 ]

S. 271(1)(c) : Penalty-Concealment-Tax audit disclosing the disallowance of expenses under section 43B-Inadvertently left out while computing the income-Penalty levied was deleted. [S. 43B]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Tax deducted at source-Limited scrutiny assessment-Detail verified-No loss to revenue-Revision order was quashed. [S. 143(2), 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share capital issue of shares at premium-Addition on presumption-Revision was held to be not valid. [S. 56(2)(viib), R. 11UA(2)(b)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Valuation report from Merchant Banker-Fair market value higher than price at which shares issued-Order not erroneous. [S. 56(2)(viib), R. 11UA(2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Revision based on proposal of Assessing Officer recommending a revision is illegal. [S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Loss on trading of shares-Possible view-Revision is not valid-Audit objection-PCIT independently applying mind-Objection is not tenable. [S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Reassessment-Revision in respect of issue not forming subject matter of reassessment-Revision order is barred by limitation. [S. 143(3), 147, 263 (2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Lack of enquiry-Cash deposits-Assessing Officer taking a reasonable view-Revision was held to be not valid. [S. 143(3)]