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 ]

S. 80P : Co-operative societies – Contract works – Income earned from labour construction works — Entitled to deduction [ S. 80P(2)(A)(vi), Form 26AS ]

S. 80P : Co-operative societies -Interest earned from Scheduled Bank — Not deductible — Net interest from deposits with Scheduled Bank to be excluded-Interest from Co-Operative Bank Or Society — Deductible -Receipt from its members towards form fee —Deductible-Standard deduction — Allowable. [ S.80P(2)(a)(i), 80P(2)( c) , 80P(2)(d) ]

S. 80JJAA : Employment of new workmen –Provisions as existing before 1-4-2016 applicable to earlier years

S. 69 :Unexplained investments -Undisclosed cash — Money changer -Information from police -—No defect in books of account – Addition on basis of suspicion and surmises – Held to be not justified. [ S.133A ]