S. 132B : Application of seized or requisitioned assets-Authorised Officer can retain seized assets only for fifteen days-Seized Assets must be handed over to Assessing Officer having jurisdiction over the assessee within fifteen days-Adjustment of liability out of seized assets-Liability must be determined on completion of assessment-No adjustment before completion of assessment-Kar Vivad Samadhan Scheme would stand revived [S. 132, 132 (9A), Kar Vivad Samadhan Scheme 1988].

S. 132 : Search and Seizure-Power to seize articles-Stock in trade Seizure cannot be made on mere suspicion-Explanation of assessee must be considered-Seizure was held to be illegal-Department was directed to pay interest of Rs. 1 lakh on market value of seizure of stock in trade. [S. 132(1)(iii), 132(4), Art. 226]

S. 115JB : Book profit-Banking companies-Accounts drawn in conformity with Banking Regulation Act, 1939-Not liable for minimum alternative tax.

S. 115JB : Book profit-Write back of provision-Disputed excise duty-The denial of the benefit of writing back the provision to the assessee in these assessment years was illegal and the finding recorded by the Tribunal was valid and correct. [S.143(3)]

S. 92CA : Reference to transfer pricing officer-Opportunity of hearing-Opportunity of hearing must be given. [Art. 226]

S. 92CA : Reference to transfer pricing officer-Alternative remedy-Writ is not maintainable-Corporate service-The order passed by the Tribunal in respect of reference made against an order passed under section 92CA for a particular assessment year was not binding for the subsequent assessment years. [S. 144C, 253, Art. 226]

S. 92C : Transfer pricing-Arm’s length price-Comparable-Foreign Associated enterprises-Tested party-Matter remanded back to TOP. [S. 260A]

S. 92A : Transfer pricing-Associated enterprises-Arm’s length price-Arranged price-Deletion of addition was set aside-Tribunal’s order as regards the value of scrap sales and the levy of interest and the 5 per cent. of interest income taken as expenditure was up held. [S. 10B, 92A(1), 92CA(3)]

S. 80P : Co-operative societies-Interest on deposits-Entitle to deduction. [Kerala Societies Registration Act, 1860, S. 2(19)]

S. 80P : Co-operative societies-Entitle to deduction-Matter remanded.