S. 167B : Charge of tax-Shares of members unknown-Maximum marginal rate-Association of persons-Joint venture between TPL and Chint-Share in AOP’s profit is determinate i.e., TPL 99.99 per cent and Chint 0.01 per cent-TPL is domestic company and Chint was a Chinese company, 99.99 per cent of income of TPL is to be taxed at maximum marginal rate (MMR) of 30 per cent plus surcharge and cess and 0.01 per cent of income of Chint at MMR of 40 per cent plus surcharge and cess. [S. 2(31)(v)]

S. 156A : Modification and revision of notice in certain cases-Demand-Moratorium-CIRP proceeding was initiated against assessee and a resolution order was also passed-Assessing Officer was directed to modify demand payable in conformity with order of an Adjudicating Authority as defined in section 5(1) of the IBC and shall thereafter serve on assessee a notice of demand specifying sum payable, if any, and such notice of demand shall be deemed to be a notice under section 156 and provisions of Act shall apply accordingly. [S. 156, Insolvency and Bankruptcy Code, 2016, S. 5(1)]

S. 153C : Assessment-Income of any other person-Search-Time limit for initiation of proceedings-Legal grounds-Notice was issued on 11-1-2016-Six years for which proceeding under section 153C could have been initiated were assessment years 2015-16 to 2010-11-Assessing Officer had no jurisdiction to initiate proceeding under section 153C for assessment year 2008-09-Lack of jurisdiction-Assessment order is quashed.[S.132, 254(1), ITAT, Rule 27]

S. 149 : Reassessment-Time limit for notice-Notice issued on 29-7-2022 for assessment year 2015-16-Last date for issuing notice under old provision was 31-3-2022,-Notice is barred by limitation.[S. 147, 148]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Unexplained Moneys-Non-Resident-Erroneous facts-Reassessment order is quashed.[S.69A, 148, 148A(b)]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Sanction-Income escaped less than Rs. 50 lakhs-Notice issued after three years-Income from other sources-Notice is void ab-initio. [S. 56(2)(vii)(b), 148, 148A(b), 148A(d), 149, 151]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Initiated as per the decision of UOI v. Ashish Agarwal (2022) 286 Taxman 183/ 444 ITR 1 (SC)-Assessing Officer treated initial section 148 notice as section 148A(b) notice as per Supreme Court decision-Reassessment order was passed without issuing fresh section 148 notice-Order is without jurisdiction and void ab initio. [S. 147, 148, 148A(b), 148A(d)]

S. 147: Reassessment-After the expiry of four years-Cash credits-Cash deposited in to bank-AIR information-Non application of mind by the Assessing Officer-Reasons recorded by Assessing Officer for reopening assessment were based on factual errors, reopening notice was void ab initio. Reassessment order is quashed. [S. 68, 143(3), 148]

S. 145 : Method of accounting-Whole sale food items-Estimation of net profit-Matter is remanded back to Assessing Officer to adjudicate afresh.

S. 143(1) : Assessment-Intimation-Prima facie adjustment-Excise duty-Adjustment made by Assessing Officer under section 143(1) by including excise duty in turnover is not sustainable.[S.143(1)(a), 145A]