S. 148 : Reassessment-Notice-Non-existing company-Substantive illegality and not procedural violation of nature adverted to in section 292-B, hence, not curable-Notice was quashed. [S. 142 (1), 147, 292B, Art. 226]

S. 147 : Reassessment-Audit objection-Income from other sources-Profit worked out profit on basis of contract/sub-contract income but failed to add interest income shown in books as other income-Reassessment is held to be valid. [S. 56, 148]

S. 139 : Return of income-Condonation of delay-Treatment of daughter-Matter remanded to Commissioner for giving one more opportunity to the assessee to produce all documents relating to treatment of his child. [S. 119, Art. 226]

S. 132 : Search and seizure-Validity-Assessing Officer found contraband substance, but it was seizure by empowered officers of Narcotics Control Bureau, it could not be said that there was seizure by Income-tax Officers. [Narcotic Drugs and Psychotropic Substances Act, 1985 S. 8(c), 21(b)]

S. 119 : Central Board of Direct Taxes-Instructions-Deduction at source-Computer software-There is no legal right to petitioner and/or its customers to compel CBDT to give ruling/clarifications on issue of tax deduction at source under section 194C/194J as regards shrink-wrapped-packaged software. [S. 119(1), 194C, 194J, Art. 226]

S. 115BBE : Tax on income referred in section 68, or section 69 or section 69B or section 69C or section 69D-Finance Bill, 2016-No set off any loss against deemed income-Provision cannot be applied retrospectively. [S. 72]

S. 80IB(10) : Housing projects-Completion / occupation certificate issued by Municipality-Tribunal order allowing the claim is affirmed. [S. 260A]

S. 80IB(10) : Housing projects-Developer-Owner-If developer was allowed to claim deduction under section 80IB (10) equivalent to its share in profit, assessee land owner should also be allowed to claim deduction of its share, direction of Tribunal was proper. [S. 260A]

S. 80IA : Industrial undertakings-Enhancement of profit-Incidental income arising to electricity distribution company on account of commission on arrears, replacement of burnt metres, inspection fee, reconnection fee, miscellaneous recovery from suppliers etc., which are incidental incomes would be eligible to deduction. [S. 32, 40(a)(ia), 40A(3), 43B]

S. 68 : Cash credits-Sales from Kiran business-Cash deposit in bank account-Failure to produce any material-Addition is held to be justified.