S. 194A : Deduction at source – Interest other than interest on securities – No liability to deduct tax based on the specific exclusion provided to the assessee under section 194A(3)(v) – Provisions would not apply [S. 40(a)(ia), 194A(3)(i)(b) , 194A(3)(v)]

S. 153C: Assessment – Income of any other person – Search
The materials seized did not indicate any inflation of purchase expenses- Assessment is held to be bad in law. [S.12AA, 132 ]

S. 153A : Assessment – Search or requisition – Objections raised by the Assessee – Rejected with reasons – No violation of Principles of Natural Justice.[ Art . 226 ]

S. 147 : Reassessment – Within four years – High Court directed AO to re-look at the matter in light of the declaratory and curative amendment in 40(a)(ia) being retrospective from 1-4-2005 [S. 40(a)(ia), 148 , 194C, Art , 226 ]

S. 147 : Reassessment – After the expiry of four years- No failure to disclose any tangible material – Reassessment is held to be bad in law .[S. 40(b)(ia) , 148]

S. 144C : Reference to dispute resolution panel – Where the matter was remanded by the ITAT for de novo assessment, the entire procedure under 144C had to be followed .[ S.254 (1) ]

S. 132B : Application of seized or requisitioned assets – High court could not direct release of gold in favour of the alleged owner when appeal before the CIT(A) was pending.[S.250, Art .226 ]

S. 92C : Transfer pricing – Arm’s length price – Rejection of comparables is a finding of fact- Appellate Tribunal – Decision of High Court is available – Remad is not justified – Additional evidence is produced -Remand is justified . [ S.92B, 254(1) ]

S. 68: Cash credits – Opening stock accepted in scrutiny – Sales made from opening stock cannot be treated as bogus. [S. 56, 133A]

S. 57 : Income from other sources – Deductions –AO is not justified in disallowing claim for deduction u/s 57(iii) for interest paid when Assessee given names of lenders, loans were availed through banking channels and interest paid was allowed as deduction from year to year – Matter remanded to AO.[ S.57(iii) ]