S. 147 : Reassessment-After the expiry of four years-Survey-Excess claim for exemption-Alternative remedy-No conclusive finding on validity of the reassessment notice-Order of single judge is reversed-Directed to pursue the statutory remedy. [S. 10B, 133A, 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Facts disclosed were incorrect-Reassessment notice was held to be valid. [S. 148, Art. 226]

S. 144B : Faceless Assessment-Principle of natural justice-Cash credits-Order was set aside. [S. 68, 143(3), Art. 226]

S. 139 : Return of income-Voluntary retirement scheme-Bank employee-Claimed exemption after by filing the letter after passing of assessment order-Filing the revised return-Delay was not condoned by CBDT-High Court directed the CBDT to condone the delay and grant refund without interest. [S. 10(10C), 89(1), 119(2)(b), 139(5), 143(1), Art. 226]

S. 115JB : Book profit-Provision for bad and doubtful debts-Corresponding amount reduced from loans and advances on assets side of balance sheet-Net provision is shown-Provision not to be added in computing book profit. [S. 36(1)(vii)]

S. 80HHC : Export business-Deduction granted under section 80IB must be excluded. [S. 8IA(9), 80IB]

S. 80HHB : Projects outside India-Gross total income-Additional deduction to be computed on the basis of recomputed gross total income.

S. 68 : Cash credits-Agricultural income-Cash deposits-Failure to establish the source-Addition was valid.

S. 37(1) : Business expenditure-Penalty-Not compensatory in nature-Not allowable as deduction. [Kerala General Sales tax Act, 1963, S. 45A]

S. 35D : Amortisation of preliminary expenses-Share premium expenses-Not part of capital employed-Cost of acquisition does not constitute cost of project-cost of acquisition of companies could not be treated as asset for allowing deduction under section 35D.