S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Penny stock-Monetary limits for appeals by department-Appeal not filed in terms of Special order of Board-Dismissal of appeal due to low tax effect-Order of Tribunal is affirmed-Writ of revenue is dismissed. [Art. 226]

S. 240 : Refund-Appeal effect order-Directions to refund with interest.

S. 226 : Collection and recovery-Modes of recovery-Attachment of properties and Bank accounts and stock-in-trade-Pendency of appeal before Appellate Tribunal-Directed to with draw attachment on deposit of 20 percent of demand-Bank directed to withhold 50 percent of deposits. [S. 153C, 226(3) 254(2A), Art. 226]

S. 158BD : Block assessment-Undisclosed income of any other person-Incriminating material is found-Amount received much before release of film-Addition of amount waived as undisclosed income-Held to be proper. [S. 132, 158BC]

S. 154 : Rectification of mistake-Setting Off of unabsorbed losses of earlier years-Rectification of order in accordance with supreme court ruling-Law laid down by Supreme Court binding. [S. 80HHC]

S. 148 : Reassessment-Objections raised-Not disposed by Assessing Officer-Matter remanded to the Assessing Officer to dispose of objections by speaking order [S. 143(2),147, Art, 226]

S. 148 : Reassessment-Notice-Participated in reassessment proceedings Final decision is not taken-Writ is premature-Dismissed. [S. 147, Art. 226]

S. 148 : Reassessment-Notice-Death of the assessee-Notice issued in the name of deceased-Assessment order and consequent notices are set aside. [S. 144B, 147, 221(1), 271(1)(b), Art. 226]

S. 148 : Reassessment-Notice-Constitutional validity-The delegation authorized being only for the purpose of enlarging limitation under a valid law, such delegation could not be exercised to resurrect the provision of law that stood omitted from the statute book by virtue of its substitution made by the Finance Act, 2021, w.e.f. 01.04.2021-Reassessment notices issued under section 148 of the Act are quashed. [S. 147, 148A, 149, 151, 151A, 153, 292 Relaxation of Certain Provisions) Act, 2020 (TOLA), S. 3(1) of the Act 38 of 2020, Art. 226]

S. 147 : Reassessment-Revaluation of asset of firm-Transfer of revalued reserve to partners’ accounts-Section 45(3) is applicable in year of transfer of capital asset by partner to firm by way of capital contribution-Re valuation is not colourable device-Reassessment is not valid. [S. 10(2A) 45(3) 148, 260A]