S. 143(3): Assessment -Bogus purchases – Estimation of profit at 10% of total alleged bogus purchases is held to be justified – No substantial question of law [ S.37 (1), 40A(3), 260A ]

S. 143(3): Assessment – Natural justice –Covid-19 – Lockdown – Returned income was loss of Rs.10, 57,049 and income assessed was 114. 57 ,33, 424 – Only three working days notice was given to file various details – Order passed without giving sufficient time is violative of the principle of natural justice – Order was set aside . [ S. 144, Art. 226 ]

S. 68 : Cash credits – Share application money –Accommodation entries – Statement of Shri Shirish C.Shah – Investor companies have responded to the notices issued u/s 133(6 and summons issued u/s 131 of the Act – Deletion of addition is held to be justified [ S. 131, 132 (4), 133(6) ]

S. 32 : Depreciation – iPad is a communicating device and not a computer, hence, ineligible for higher rate of depreciation of 60 per cent.

S. 194H : Deduction at source – Commission or brokerage – Expenditure on conference of doctors could not treated as commission – Not liable to deduct tax at source [ S. 201 ]

S. 12AA : Procedure for registration –Trust or institution-Education- Excess of expenditure over income – Exemption cannot be denied [ S. 2(15), 11 ]

S. 12AA : Procedure for registration –Trust or institution-Education- Excess of expenditure over income – Exemption cannot be denied [ S. 2(15), 11 ]

S. 144B : Faceless Assessment – Draft assessment order – Natural justice – Order passed without following the procedures laid down under section 144B of the Act is ab-initio -void [S. 143 (3), Art , 226 ]