S. 127 : Power to transfer cases – Assigning of reasons in notice — Search proceedings showing that assessee residing in Nagaland and had financial interests in Kerala — Transfer for purposes of co-ordinated investigation — Cogent and credible reasons assigned in notice — Notice sent to registered office in Kerala and received by Assessee — Order for transfer valid .[S. 132, ITR 127, Art, 226 ]

S. 80P : Co-operative societies – Society formed for enabling financial and social welfare of toddy tappers and workers for tapping and selling toddy — Could not be considered co-operative society engaged in collective disposal of labour of its members — Eligibility of assessee for deduction as society engaged in marketing of agricultural produce grown by its members — Matter remitted to Tribunal.[S.80P(2)(a)(vi) ]

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)]