S. 68 : Cash credits-Burden of proof-Relevant evidence produced first time before High Court-Matter remanded the Assessing Officer to consider the evidence and pass appropriate order [S.260A]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Waiver of loan does not amount to cessation of trading liability neither taxable under section 41 (1) nor under section 28(iv) of the Act. [S. 28(iv)]

S. 28(i) : Business income-Real estate development-Letting out mall-Assessable as business income and not income from house property. [S. 22, 23]

S. 11 : Property held for charitable purposes-Return was not filed with in the period specified in the notice-Assessment completed denying the exemption and demand was raised-Application for condonation of delay in filing the return was pending before CBDT-Directed to decide the application for condonation of delay and the demand was stayed till the disposal of application. [S. 12AA, 119, 139, 142(1), Form No. 10B, Art. 226]

S. 115O : Domestic companies – Tax on distributed profits – Buy back of shares – Approval of Scheme – Capital gains or dividend income – Direction to file an appeal before CIT (A) and also finding on merits – Decision on merit is held to be not valid – Direction to file an appeal is held to be justified. [ S. 2 (22)(d), 10 (34A), 46A, 115QA, 246A Art , 226 ]

S.148: Reassessment —Notice in name of dead person — Held to be not valid — Not a defect curable under S. 292B of the Act – Intimation by legal Representative that noticee was dead is not a participation in reassessment proceedings [ S.147 , 292B Art .226 ]

S. 133 : Power to call for information – Authorities – ITO (Intelligence ) is an authority to issue notice under section 133(6) to the assessee Co -Operative banks prior to CBDT Notification No 77 of 2014 dt 10 -12 -2014 [ S. 90, 90A, 120, 124, 133(6), 272A(2)(c)]

S. 40(a)(ia): Amounts not deductible – Deduction at source – Belated filing of form No .26Q- Matter remanded to Assessing Officer – No substantial question of law [ S.194C(7) ]

S. 245R : Advance rulings – Mere issue of notice under section 143 (2) is not an bar for approaching the AAR- Writ petition of revenue is dismissed .[ S.143 (2), 245R(2) ]

S. 158BE : Block assessment – Time limit – Panchanama – Approval was taken -Notice u/s 143 (2) was issued – Search in more than one premises – More than one Panachnama which state that search continued and prohibitory order was issued – Vacation of prohibitory order has to be considered as conclusion of search- Order is not barred by limitation . [ S. 132(3) , 143 (2) , 158BG , Art , 226 ]