S. 147 : Reassessment-Long-term capital gains-Sale of shares-Information from Investigation Wing-accommodation entries-Demat-Sales through registered broker-Shares were sold before splitting up of shares-No link between reasons recorded and formation of belief-Reassessment is invalid.[S. 10(38) 45, 148]

S. 147 : Reassessment-After the expiry of four years-Excess Indexed cost of acquisition-No failure to disclose material facts-Reassessment is quashed.[S. 45, 143(3), 148]

S. 147 : Reassessment-After the expiry of four years-Bogus purchases-Information from investigation wing-Incorrect reasons recorded and incorrect figures-Re assessment is quashed. [S. 143(3), 148]

S. 147 : Reassessment-After the expiry of four years-Bogus purchases-Change of opinion-No failure to disclose material facts-Reassessment is quashed.[S.69A, 69C, 148]

S. 144 : Best judgment assessment-Ex-parte order-Agricultural Income-Remand report-Matter remanded to the Assessing Officer to pass a fresh assessment order after granting an reasonable opportunity of hearing.

S. 143(3):Assessment-Limited scrutiny-Additional legal ground is admitted-Cash deposits-Assessing Officer converted the limited scrutiny to regular assessment-Order is quashed and set aside-Instruction No. 5 Of 2016, Dated 14-7-2016 (2016) 385 ITR 56 (St) [S. 56(2)(vii)(b)(ii), 68,69A, 133(6), 142(1), 143(2), 254(1)]

S.143(3): Assessment-Agricultural income-Estimation-Matter remanded to the Assessing Officer for fresh adjudication-The Tribunal also directed the assessee to pay cost of Rs. 6,000 with the direction to deposit costs in the Prime Minister’s National Relief Fund and receipt thereof to be produced before the Assessing Officer before the commencement of the proceedings.

S. 143(3) : Assessment-Search-Statement in the course off search-Purchase of property-No incriminating material was fund-Dumb document-Addition is deleted. [S. 132, 158BC]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Non-Resident of Japan-Incurred loss-Only profits earned by Permanent Establishment in India is liable to tax-Addition is deleted-DTAA-India-Japan.[Art.7]

S. 271B : Penalty-Failure to get accounts audited-Death of assessee-Legal representative-Legal representative of deceased offender or criminal could not be penalised for offences or crimes committed by deceased.[S.44AB, 139(1), 159(4)]