S. 147 : Reassessment-Opportunity of hearing not granted-Principle of natural justice is violated-Order is not valid-Information from third party-Notice invalid-Notice based on Order of Commissioner of Customs and Excise-Order subsequently quashed-Very basis to support reasons to believe no longer in existence-Proceedings to be quashed. [S. 143(1), 148]

S. 147 : Reassessment-No tangible material-Reassessment is bad in law. [S. 143(1)]

S. 147 : Reassessment-With in four years-Absence of new or tangible material-Undisclosed money disclosed u/s.132 (4)-Cash deposited in the bank-Re assessment was held to be not valid. [S. 132(4), 148]

S. 145A : Method of accounting-Valuation of closing stock-Diminution in value of inventory due to obsolescence-Cost or net realisable value whichever is less-Certificate of Auditor-Addition cannot be made.

S. 145 : Method of accounting-Books of Account- Estimation of gross profit-to be made on reasonable basis.

S. 145 : Method of accounting-Rejection-Non production of complete muster rolls-Books of accounts audited-Estimation of profit at 11.5 % is directed to be deleted.

S. 144C : Reference to dispute resolution panel-Limitation-Order set aside by the Appellate Tribunal-Amended section is not applicable-Order void ab initio. [S. 143(3), 144C(13), 153(2A), 254(1)]

S. 144C : Reference to dispute resolution panel-Power of enhancement-DRP has the power to enhance the assessment on an issue not part of assessment order. [S. 145A]

S. 144 : Best judgment assessment-Failure to deduct tax at source-Leave travel allowance-Order passed without calling remand report-Matter remanded-Tribunal recorded deep appreciation for very well drafted statement of facts and grounds of appeal before CIT(A) while deciding the matter without the assistance of the assessee. [S. 10(5), 133A, 192, 201(1), 201(IA), 201(3), 250, 254(1)]

S. 144 : Best judgement assessment-Assessing Officer rejected the books of account and estimated the net profit rate of 12%-CIT(A) estimated at 6.5%.-Order of CIT(A) is affirmed-Un explained expenditure-When the income is estimated separate addition as unexplained expenditure cannot be made-Order of CIT(A) is affirmed. [S. 69C, 145(3)]