S. 263 : Commissioner-Revision of orders prejudicial to revenue-Expenditure incurred towards spectrum is not an expenditure for acquiring right to operate telecommunication services but is an intangible asset eligible for depreciation u/s. 32 of the Act-Revision is bad in law. [S. 32, 35ABB]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash credits-Share capital premium-Discharged the burden in original assessment proceedings-Revision is bad in law. [S. 68]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Employees’ Stock option scheme expenses-Additional compensation-Revision is not valid-Book profit-Interest-Revision is valid. [S. 37 (1), 115JB(2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Transaction fee-Subject matter of appeal before CIT(A)-Original assessment reopened to tax profits earned on surrender of purchase pension policy-Return filed was accepted in reassessment proceedings-Reassessment becomes invalid-Revision is held to be not valid. [S. 14A, 56, 143(3), 147, 148]

S. 154 : Rectification of mistake-Deduction of tax at source-Aircraft lease-Order of High Courts-Tribunal for earlier year holding payment exempt and High Court dismissing Department’s appeal-Order of CIT(A) allowing the rectification order is held to be justified. [S. 10(15A), 40(a)(i), 250]

S. 153A : Assessment-Search or requisition-Addition made to the income of the assessee based on the documents viz. ‘loose sheets’ and ‘scraps of paper’ seized during a search conducted on a third party-Inadmissible evidence-Addition is not valid. [S. 132]

S. 148 : Reassessment-Notice-Dispatched by speed post within time but retuned by postal authorities-Notice never served-Reassessment proceedings in valid. [S. 147, 149]

S. 147 : Reassessment-Accommodation entries-Information from Investigation Wing-Borrowed satisfaction-Reassessment is not valid-Judicial discipline-CIT(A) is bound to follow the order of Jurisdictional Tribunal-Share capital-Letter of confirmation was filed-Addition as cash credits is not justified. [S. 68, 148, 254(1)]

S. 147 : Reassessment-Rectification proceedings initiated but not rectified-Reassessment proceedings initiated for same reasons-Held to be not valid. [S. 148, 154]

S. 147 : Reassessment-Business connection-No new tangible material-Reassessment is bad in law. [S. 9(1)(i), 148]