S. 144B : Faceless Assessment-Principles of Natural justice-Ineffective hearing during video conferencing due to technical glitches-Order passed without granting requested rescheduling of video conference to explain complexity of material submitted-Assessment order and consequent notice of demand set Aside-The Department is at liberty to proceed with the assessment under the provisions of section 144B in accordance with law after issuance of show-cause notice-cum-draft assessment order and providing an opportunity of hearing to the assessee. [S. 143(3), 156, Art. 226]

S. 144B : Faceless Assessment-Natural justice-Limitation-Effect Of Standard Operating Procedure-Notice giving less than seven days for reply-Barred By Limitation-Order and consequential notices are set aside-Matter is remanded to the stage of notice and the petitioner is permitted to file his response. [S. 142(1), 143(3), 144,Art. 226]

S.143(3): Assessment-Natural justice-Order passed without giving adequate opportunity to be heard-Not valid-Leave is granted to file reply in response to show cause notice issued u/s 142(1) of the Act. [S. 142(1), Art. 226]

S. 115JB : Company-Book profit-Amounts transferred to statutory reserve fund is includible.

S. 92CA : Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length price-Avoidance of tax-Transactions with Associated Enterprises-Arm’s length price-Question of fact-No substantial question of law.[S.92C, 260A, R.10B(2)(a)]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax- International transaction-Failure to furnish evidence-No substantial question of law.[S. 260A, R. 10B, 10C]

S.80IA: Industrial undertakings-Enterprises engaged in infrastructure development-Eligible profits-Captive power plant-Rate at which power supplied to own unit-Market value of supply power to State Electricity Board.

S. 69 : Unexplained investments-Income from undisclosed sources-Huge expenses-Additions to income based on facts-No substantial question of law. [S. 260A]

S. 56 : Income from other sources-Right shares-Allotted to proportionate to shareholding in company-Provision is not applicable in respect of allocation of rights shares allotted below FMV proportionate to his shareholding in company-Gifts-Additional shares received on account of renunciation of rights issue by wife and father-Relatives-Excluded from purview of operation of section 56(2)(vii)(c)-Share premium-Balance sheet-Balance sheet is not drawn up on date of allotment, for arriving at FMV of shares under section 56(2)(vii)(c)(ii), previous balance sheet which is audited and approved in AGM has to be taken into consideration, before allotment of share. [S. 56(2)(vii)(c), R.11UA(1)(c)]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Deletion of addition on facts-No substantial question of law.[S. 37(1), 143(3), 260A]