S. 194H : Deduction at source-Commission or brokerage-Discount- Deducted taxes at appropriate rates at time of giving trade discount/commission to it’s agents-Cannot be held to be an assessee-in-default-Matter remanded to the file of CIT(A). [S. 194C, 194J, 201 (1), 201(IA)]

S. 154 : Rectification of mistake-Mistake apparent from the record-Interest income from Government securities Commissioner (Appeals) was to be directed to carry out necessary verifications and if claim of assessee was found to be correct, relief was to be allowed to assessee in accordance with law. [S. 10(15),143(1), 250]

S. 153A: Assessment-Search-No incriminating material was found during search-Addition is deleted.[S. 132]

S. 153A : Assessment-Search-Share certificates and contract notes seized-Not incriminating in nature-Capital gains-Addition as cash credit is not justified-Entitle to exemption. [S. 10(38), 45, 68, 132]

S. 144C : Reference to dispute resolution panel-Document Identification Number (DIN)-Order passed by DRP without a valid computer-generated Document Identification Number (DIN)-Illegal and non-est and deemed to have never been issued-Assessment order passed by Assessing Officer in pursuance to DRP’s order was bad in law and quashed. [S.144C(13)]

S. 144C : Reference to dispute resolution panel-Draft assessment order-Assessing Officer is not empowered to make any other addition which was not proposed in draft assessment order.[S. 144 (13)]

S. 144C : Reference to dispute resolution panel-Limitation period-
Order is passed beyond one month from end of month in which directions of DRP were received by Assessing Officer-Barred by limitation. [S.92C, 144C(13) R.11]

S.115QA: Tax on distributed income to share holders-Buy back of shares-Consideration for purchase of its own shares from its shareholders in accordance with scheme sanctioned by High Court-completed on 31-5-2016 i.e. prior to 1-6-2016-Capital reduction carried out by assessee would not be covered in definition of buyback as per explanation (i) to section 115QA and tax on distributed income to shareholders was not payable by assessee-company. [S. 115QC, Companies Act, 1956, S.77A, 100-104]

S. 115JB : Company-Book profit-Export business-Deduction under section 80HHC for purpose of section 115JB, should be based on amount eligible as per books of account and not based on amount of deduction under section 80HHC under Chapter VI-A while computing normal income.[S.80HHC]

S. 80P : Co-operative societies-Interest-Co-Operative Bank-Eligible deduction. [S.80P(2)(d)]