S. 153C : Assessment-Income of any other person-On money-Settlement Commission-Firm admitting that the surplus belong to the firm and related parties-Amount credited to partner’s account-Deletion of addition is held to be justified. [S. 132]

S. 147 : Reassessment-No fresh tangible material-Reassessment not valid. [S. 143(1), 148]

S. 147 : Reassessment-Compensation received-No discussion in the assessment order-Reassessment was up held. [S. 28(va), 148]

S. 147 : Reassessment-With in four years-Information from Investigation Wing-Client code modification-Mistake by share broker-Reassessment is held to be not valid. [S. 148]

S. 147 : Reassessment-After the expiry of four years-Unexplained investment-Beneficiaries of Trusts-Discretionary trust-Account with bank in Liechtenstein-Notice barred by limitation-Addition was not valid-1/5 share in the trust neither accrued nor arisen-Additional ground was admitted. [S. 69, 143(3), 148, 151(2)]

S. 145 : Method of accounting-Real estate business-Project competition method-Advance from customers-Estimate at 10 percent of advance received during the year is proper-Advance carried over from earlier years no addition can be made. [S. 28(1), 145(3)]

S. 145 : Method of accounting-Provision for software expenses-Allowable as deduction. [S. 37(1)]

S. 143(3) : Assessment-Undisclosed income-Cash in hand as at close of preceding year accepted in assessment-Sufficient to cover shortfall in sum returned-Addition cannot be made. [S. 132]

S. 143(3) : Assessment-Undisclosed income-Bogus purchases-Sales accepted-Statement in the course of search-Neither the statement was furnished nor an opportunity of cross examination was provided-Addition is held to be not justified. [S. 131, 133(6)]

S. 142(2A) : Inquiry before assessment-Special audit-Time limit-Assessment completed within two months from date of special Audit report-Held to be within limitation period. [S. 142(2C), 153]