S. 143(3): Assessment-Transfer of case-Order passed by non-jurisdictional AO after transfer of case-Transfer of the PAN was only a consequential proceeding to the transfer of jurisdiction-Order is quashed and set aside by the Tribunal is affirmed. [S. 127, 260A]

S. 143(3) : Assessment-Remand-Appellate Tribunal-Order passed by AO beyond the directions of Tribunal-Order giving effect is quashed.-Change of opinion is not permissible – Entitle to refund with interest -Unexplained money – S. 115BBC(1) is not applicable to donations received as offerings from devotees -Strictures- Court also observed that “ For determining the taxes due the Assessing Officer should avoid bringing far -fetched and ideas . Without understanding the basic philosophy of income -tax , provisions are referred to so that any assessee can be taxed at any cost which is not fair or judicious approach to deal with the subjects of the State” [S. S. 11,12A, 44AB 69A, 115BBC(1), 254(1),263 , Form No 10B, Art.226 ]

S. 132A : Powers-Requisition of books of account-Cash seized by Police-S. 132A does not empower the Department to requisition a Court to deliver any seized assets, and the provision is referable only to an officer or authority-Order passed by the Magistrate is quashed-Asst.Director with whom the amounts were entrusted to return the amount released-The petitioner is directed to file the return disclosing the amount and Revenue is directed to finalise the assessment in accordance with law. [S. 132, 147, 148]

S. 119 : Central Board of Direct Taxes-Voluntary filing of return-Waiver or reduction-Interest under sections 234A, 234B and 234C of the Act [S. 119(2)(a),139, Form 15H, Art. 226]

S. 72 : Carry forward and set off of business losses-Carry forward and set off losses-Change in share holdings-Companies which public are not substantial interested-Tribunal was justified in directing the AO to expunge the concluding remark brought forward loss is not allowed to be carry forward-Unabsorbed depreciation and capital losses do not fall within the scope and ambit of S. 79 [S.32(2), 79, 254(1), 260A, 1922 ITACT, S. 24(2), 24(3)]

S.43B: Deductions on actual payment-Interest paid to financial institutions-Reassessment-Claim for deduction not made earlier-No original assessment-Assessment order pursuant to original and revised return-Claim made during assessment proceedings-Allowable as deduction. [S.43B, 139(5), 147(b), 260A]

S. 40(a)(ii) : Amounts not deductible-Rates or tax-Education cess-Not allowable as business expenditure. [S. 37(1)]

S. 32 : Depreciation-Block of assets-Hotel-Temporary closure-Put to use less than 180 days-Second proviso-Acquired earlier years-Second and third proviso is not applicable-Depreciation is allowable.[S. 32(1), 260A]

S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Following the ratio in UOI v. Rajeev Bansal [2024] 167 taxmann.com 70 (SC) the time limit for issue of notice was extended only up to 30 -6 -2021 – Assessment year 2013 -14 the notice was issued on 29 -7 -2022 , for the Assessment year 2014 -15 the notice was issued on 31 -7 -2022 and for the Assessment year 2015 -16 the notice was issued on 28 -7 -2022 -All the notices are barred by limitation – Reassessment is quashed . [ S. 147, 148 , 148A(b), 148A(d) , 149(1), TOLA, S.2, 3 ]

Income Declaration Scheme, 2016.
S. 183: Payment of tax-Adjustment of advance tax and self assessment tax-Matter is remanded with the direction for redo the exercise after examining the accounts of the assessee for AY. 2012-13 and ascertain whether the assessee has indeed made a correct declaration of income. [Art. 226]