S. 154 : Rectification of mistake-Defect in application-Records-Opportunity must be provided to correct the defect-Every statutory order/decision and relevant facts which went into decision making of punching figures on e-portal at relevant point of time would constitute record for purposes of proceedings under section 154 of the Act-Matter remanded. [S. 139]

S. 153A : Assessment-Search-Unexplained money-Foreign Bank account-HSBC, Geneva, Switzerland-Information was not provided as per Article 26 of DTAA which came in to effect from 1-4-2011-Addition as unexplained Swiss Bank deposits or interest earned was deleted-DTAA-India-Switzerland. [S. 69A, 132, Art. 26]

S. 148 : Reassessment-Notice-Non disclosure of capital gains-Legal heirs-Notice was served upon only on three legal heirs out of seven and the assessment was framed in the name of one legal heir-Matter remanded to the Assessing Officer to issue notice to all legal heirs and decide afresh. [S. 143(3), 147]

S. 147 : Reassessment-With in four years-Share premium-Director (Inv.)-Reassessment was held to be not valid [S.56(2)(viib), 148]

S. 147 : Reassessment-With in four years-Change of opinion-Provision for bad and doubtful debts-Reassessment notice was held to be not valid. [S. 36(1)(viia), 148]

S. 147 : Reassessment-With in four years-Ex-servicemen corporation-No failure to disclose any material facts-Reassessment proceedings for denial of exemption is held to be not justified [S. 10, 26BBB, 148)

S. 145 : Method of accounting-Rejection of books of account and estimate of net profit at 7% as against net profit of 6.5% shown by the assessee-Adoption of net profit at 7% was held to be unjustified. [S.145 (3)]

S. 145 : Method of accounting-Valuation of closing stock of dust / scrap-Ad-hoc addition was held to be not justified.

S. 145 : Method of accounting-Business of supply of processes, designing, construction etc.-completed contract method of accounting-Rejection of books of account is held to be not justified.

S. 145 : Method of accounting-Project completion method of accounting-Builder-Revised Guidance Note of 2012 issued by ICAI-25% of on money was taxed on receipt basis was deleted-On money has to be assessed as business receipts and not as cash credits. [S. 68]