S. 10A : Free trade zone – Profits of business – Total turnover – Export turnover- Claiminng deduction u/s 80HHE earlier cannot be bar to claim deduction u/s 10A of the Act [ S.80HHE ]

S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Surrendering additional income-Appeal not filed-Levy of penalty at 10% is held to be justified-Difference in valuation as per books and Department valuer-Levy of penalty is not justified. [S. 132, 153B(1)(b)]

S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Undisclosed income-Cash seized-Past savings of other family members–Inherited jewellery-Advances given to for purchase of land-Deeming fiction cannot be applied-Levy of penalty is held to be not justified. [S. 69, 69B, 132(4)]

S. 271AAA : Penalty-Search initiated on or after 1st June, 2007-Concealment-Additions deleted-Penalty does not survive-Notice not mentioning specific limb of explanation-Penalty not imposable. [S. 274]

S. 263 : Commissioner-Revision of orders prejudicial to revenue Infrastructure undertaking-Assessing Officer taking plausible view-Revision is held to be not valid. [S. 80IA]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Method of accounting-Construction company-Percentage competition method-Mandatory from assessment year 2017-18-Revision is held to be not valid. [S. 43CB]

S. 153C : Assessment-Income of any other person-Search-Recording satisfaction note by Assessing Officer that material recovered in search related to assessee is mandatory-Assessment made solely on basis of statement recorded during survey of another company without furnishing copy of statement or allowing it opportunity to cross-examine deponent-Statement recorded during survey-Assessment without jurisdiction. [S. 132, 132A, 153A]

S. 153 : Assessment-Limitation-Assessment order passed by Assessing Officer Pursuant To Directions Of Dispute Resolution Panel-Not subject to limitation [S. 143(3), 144C(13)]

S. 147 : Reassessment-Accommodation entries-Share capital-Unsecured loan-Borrowed satisfaction-Non application of mind-Reassessment is held to be bad in law. [S. 69, 148]

S. 144 : Best judgment assessment-Maintaining huge cash balance in particular period-Cash withdrawal from bank-Additions cannot be made on the presumption that the assessee could have discharged sundry creditors instead of having cash in hand. [S. 36(1)(iii), 145(3)]