S. 147 : Reassessment-After the expiry of four years-Accommodation entries-Information from DDI (Inv)-No failure to disclose material facts. [S. 68, 143(3), 148]

S. 147 : Reassessment-After the expiry of four years-Non-Resident-Presumptive Tax-No failure to disclose fully and truly all material facts–Reassessment is not valid. [S. 44BB, 143(3), 148]

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment order is invalid. [S. 148]

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment not valid-Accumulation of income-Claim that 15 Per Cent. of gross receipts should be allowed to be carried forward and up to 85 Per Cent. of gross receipts required to be applied in a year-Corpus donation-Excess application of preceding assessment year can be set off against current year’s receipts. [S. 11, 148]

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Audit objection-[S. 40(a)(ia), 143(3), 148]

S. 147 : Reassessment-After the expiry of four years-Bogus purchase-No disallowance made on account of bogus purchase-Reassessment proceedings quashed. [S.69C, 148]

S. 145A : Method of accounting-Valuation-Closing stock-Assessing Officer taking average mark-up of 25 Per Cent.-Directed to take average mark-up of 32 Per Cent. to arrive at cost price of closing stock as on date of search. [S. 132]

S. 145A : Method of accounting-Valuation-Sales Returns-No Provision created-Sales return policy accounted based on sound accounting principles-Deletion of addition is proper.

S. 145A : Method of accounting-Valuation-Closing Stock-Valuation-Jewellery business-“Last In First Out” System of Accounting-Consistently valuing its stock of jewellery under “Last In First Out”-Order of CIT(A) is affirmed. [S. 145]

S. 145A : Method of accounting-Valuation-Under valuation of stock-Value of opening stock lower than admitted during survey-Value of opening stock of finished goods higher than average rate-Entire exercise of valuation adhoc and without any basis-Adjustment too minor to hold assessee attempted undervaluation of stock-Additions not justified.[S.133A]