S. 147 : Reassessment-Change of opinion – Notice based on assessment order of subsequent assessment year-Non-deduction of tax at source on payment made to non-resident, short and long term gains on share transactions- Provision for warranty – Deduction u/s 35(2AB )-No independent formation of opinion by Assessing Officer based on new material-Reassessment notice quashed and set aside. [S. 35(2AB), 148, Art. 226]

S. 147 : Reassessment – Survey-Non-resident-Permanent establishment Permanent agent- Dependant establishment-Attribution of profits – Reassessment notice was up held by the Tribunal – No substantial question of law – Appeal dismissed-Rejection of application for recall of the order was affirmed. [S. 148, 254(2), 260A, Art. 226]

S. 147 : Reassessment-Notice – Subject matter of appeal-Income which is subject matter of appeal, reference or revision – Reassessment notice is not valid [S. 11, 148, Art. 226]

S. 147 : Reassessment-Search and seizure-Reassessment-Assessment of third person-Notice opportunity of hearing not mandatory for issue of notice of reassessment pursuant to search-Satisfaction note is internal communication of Department not requiring document identification number-No provision requiring supply of copy of satisfaction note to assessee with notice for reopening assessment -Writ petition dismissed. [S. 132, 148, 153A, Art. 226]

S. 147 : Reassessment-Capital gains-Information from investigation unit – Penny stock – Borrowed satisfaction- Fishing inquiry not permissible-Notice quashed and set aside.[S. 10(38), 45, 148, Art. 226]

S. 147 : Reassessment-Audit objection- No new material-Notice and order disposing the objection was quashed. [S. 148, Art. 226]

S.147: Reassessment – After the expiry of four years- Query raised and issue considered in assessment proceedings- Reassessment notice and order disposing the objection was quashed. [S. 148, Art. 226]

S. 147 : Reassessment-Search and seizure-Reassessment-Assessment of third person-Notice opportunity of hearing not mandatory for issue of notice of reassessment pursuant to search-Satisfaction note is internal communication of Department not requiring document identification number-No provision requiring supply of copy of satisfaction note to assessee with notice for reopening assessment – SLP against High Court order dismissed. [S. 132, 148, 153A Art.136]

S. 147 : Reassessment-Capital gains-Information from investigation unit – Penny stock – Borrowed satisfaction- Fishing inquiry not permissible – Order of High Court quashing the notice is affirmed – SLP of revenue dismissed.[S. 10(38), 45, 148, Art. 136]

S. 145 : Method of accounting-Business income-Valuation of closing stock-Consistent application of cost or net realisable value method – Order of Tribunal deleting the addition is affirmed. [S.28(i)]