S. 234B : Interest-Advance tax-Representative-Investment fund-Passing through taxation-Entitle to credit for tax deducted at source-Assessing Officer to Charge correct interest after giving effect to Commissioner (Appeals) order-CBDT, Circular No 13 of 2014 dt. 28-7-2014 (2014) 366 ITR 2 (St). [S. 160(1)(iv), 164(1), 234C, R. 37BA(2)]

S. 201 : Deduction at source-Failure to deduct or pay-Provision in the books of account-Accrual basis-Payee was not known-Tax deducted at source on booking of expenses in following year-Interest leviable only up to date of deduction of tax in subsequent year-Order of CIT(A) is affirmed. [S. 201(1), 201(IA)]

S. 153C : Assessment-Income of any other person-Search-Share premium-Identity and credit worthiness is not established-Addition is affirmed-Protective addition-Substantive addition.

S. 153C : Assessment-Income of any other person-Search–Six assessment years to be reckoned from date of recording of satisfaction-AY. 2004-05 is beyond six years-Order is quashed and set aside. [S. 132]

S. 153C : Assessment-Income of any other person-Search-Cash credits-Share premium-Identity and credit worthiness not established-Order of CIT(A) is affirmed. [S. 68, 153A]

S. 153C : Assessment-Income of any other person-Search-Six assessment years to be reckoned from date of recording satisfaction-Satisfaction recorded on 23-11-2010-Assessment Year2004-05 is beyond six assessment years-Order is bad in law.[S. 132]

S. 153C : Assessment-Income of any other person-Search-Satisfaction-Note prepared by Assessing Officer of Assessee-Jurisdiction wrongly invoked-Assessment Order is quashes. [S. 132, 153A]

S. 153A: Assessment-Search-Suppression of sales-Assessing Officer to make estimation of gross profit rate on suppressed sales-Without evidence of suppression of sales, extrapolation of suppressed sales of part of month for those years impermissible-Addition can be made only for sales suppression detected during search applying gross profit rate of sales accounted in books of account.[S. 132]

S. 153A: Assessment-Search-Suppression of sales-Running retail outlets dealing in gold-Assessing Officer is directed to make estimation of gross profit rate on suppressed sales. [S. 142(1)]

S. 147 : Reassessment-Information from Additional Director of Income-Tax (Inv.)-Advance receivable-Recorded in the books of account-All advances and payments made through banking channels-Re assessment is not valid.[S.143(3), 148]