S. 147 : Reassessment – Depreciation on goodwill – Change of opinion – Re assessment notice is not valid [ S. 32 , 148 , Art , 226 ]

S. 147 : Reassessment –With in four years- Capital gains –Shares – Rate of tax at 10 % – Application of mind during original assessment proceedings – Notice issued u/s 148 is quashed [ S. 48, 112 , 143(3), 148 , Art , 226 ]

S. 147: Re assessment – Change of opinion – Housing project – Full details of residential unit was furnished in the course of assessment proceedings – Re assessment is held to be bad in law . [ S.80IB(10), 148 Art , 226 ]

S.147: Reassessment – After the expiry of four years – Cash credits – Information received from Director (Investigation ) –Bogus suspicious transaction – Fishing enquiry – Reassessment notice is quashed . [ S. 68, 148 , Art , 226 ]

S. 147 : Reassessment – After the expiry of four years – Certificate was issued for nil TDS – Reassessment notice on the ground that misrepresentation of facts – Agreement was made available when the certificate was issued – Reassessment is held to be not justified .[ S. 148 , 197, Art , 226 ]

S.147: Reassessment – After the expiry of four years – Sub contract and sub -contract – During assessment proceedings all details are furnished – survey – Reasons cannot be improved or supplemented Re assessment notice is not valid – Re assessment notice is not valid .[ S. 133A, 148 , Art , 226 ]

S.147: Reassessment – After the expiry of four years – Life Insurance company – Actuarial report- No failure to disclose material facts – Reassessment is not justified [ S.44, 57 , 148, Art , 226 ]

S. 40(a)(ia): Amounts not deductible – Deduction at source – Commission paid to Chairman and manging director – Part of salary provision of section 192 is applicable and not section 194H- TDS is deductible at the time of payment and not when the provision was made – No disallowance can be made . [ S. 192 , 194H , Form No 16 ]

S. 36(1)(vii) :Bad debt -Deposit made with sister concern –Capital ,loss – Interest income assessed as business income – Waiver of principal amount and interest accrued – Allowable as bad debt . [ S. 28(i), 36(2)(i)]

S. 12AA : Procedure for registration –Trust or institution- Object to develop training and research centre to facilitate skill development to entire chain of work force engaged at various levels in garment and textile industry- Entitle for registration -Delay condoned [ S. 2(15), 11, 253 , Companies Act , 2013 , S. 8 ]