S. 220 : Collection and recovery-Assessee deemed in default-Stay-Mere grant of stay of demand the assessee cannot be absolved from mandatory levy of interest. [S.220(2)]

S. 153C : Assessment-Income of any other person-Search and Seizure-In absence of any incriminating documents or evidence discovered against assesse the assessment is bad in law. [S. 12AA, 132]

S. 148 : Reassessment-Transfer pricing-Objection not disposed of against reassessment notice-Single judge directed the Assessee to participate in adjudicating mechanism-Order of single judge is affirmed in appeal. [S. 92C, 92D, 92E, 148, Art. 226]

S. 148 : Reassessment-Reasons recorded not communicated-Reassessment is held to be bad in law. [S. 147, 292BB]

S. 147 : Reassessment-Unexplained money-Enforcement Directorate without making any independent inquiry himself into matter-Borrowed satisfaction-Reassessment was held to be not valid. [S. 69A]

S. 147 : Reassessment-Business expenditure-Loss on bidding deduction-Tribunal quashed the reassessment on the ground that there was no failure on the part of assessee to disclose all material facts-High court quashed the order of Tribunal and remanded the matter back to Tribunal to decide on merit afresh. [S. 37(1)), 148]

S. 147 : Reassessment-After the expiry of four years-When re-assessment proceedings to disallow brought forward loss were held to be without jurisdiction, High Court could not issue fresh directions to Assessing Officer to look into other grounds. [S.72, Art. 226]

S. 143(3) : Assessment-Business of textile-Cash sales-Income from undisclosed sources-Income from other sources-Sale of opening stock cannot be treated as income from undisclosed sources. [S. 56, 68, 133A]

S. 143(3) : Assessment-Joint venture-Association of persons-Once amount had been offered to tax by its members-AOP could not be saddled with liability to pay tax in respect of same amount-Estimation of net profit at 11.59% was deleted-Order of Tribunal is affirmed. [S. 4, 2(31)(v)]

S. 132 : Search and seizure-Warrant of authorization-Search and seizure action is held to be valid though the petitioner resigned from said company four years ago-Writ petition was dismissed. [Art. 226]