S.260A: Appeal to High Court -Rule of consistency — Taxability of profits of overseas branches of assessee — Earlier year order of Appellate Tribunal was accepted- Precluded from raising point for later year – Appellate Tribunal – Powers – Subsidy – Capital or revenue – New issues can be raised first time before the Appellate Tribunal on the basis of material already on the record .[ S. 4, 254(1)

S.254(1) : Appellate Tribunal- Duties- Tribunal bound to give reasons for reversing findings rendered by lower authorities — Deletion of addition is held to be not justified .[ S.132(4) , 158BA, 158BC]

S.244A: Refund – Interest on refunds – Retention of impounded cash- — Delay of more than three years after finalisation of assessment in refunding amount seized —Entitled to interest from date of order passed by Assessing Officer till date of payment- Right to property – Retention of impounded cash without any authority of Law is violation of Article 300A of Constitution. [ 132B(4) , 153A , 263, Art .300A ]

S.234E: Fee-Default in furnishing the statements- Deduction of tax at source — Fee of Rs 200 for every day -Constitutional validity – Compensatory levy for extra burden on Income-Tax Department- Provision is valid .[ S.271H , Art , 14, 226 ]

S. 226 : Collection and recovery – Modes of recovery – Garnishee proceedings- Recovery effected on same day and garnishee proceedings initiated with in two days of amount becoming due – Guide lines – Order of single judge modified . [ S.80P(4), 226(3) (iii) ]

S. 158BC : Block assessment – Undisclosed income –Agricultural income- Seized material and statement – Due date for filing of return was not expired – Deletion of addition – Tribunal bound to give reasons for reversing findings rendered by lower authorities — Deletion of addition is held to be not justified .[ S.69A, 132(4) 158BA, 158BC 254(1) ]

S.148: Reassessment — Notice —Reasons not recorded- Notice is held to be not valid [ S.147 ]

S.147: Reassessment —Amalgamation – Notice issued against transferor-Amalgamating entity ceases to have existence- Notice and subsequent proceedings unsustainable [ S.148 , Art , 226 ]

S.147: Reassessment —Notice issued in name of dead person — Notice and proceedings invalid [ S.131(IA) 148 ,159 , 292A Art . 226 ]

S.147: Reassessment-After the expiry of four years- There was no failure to disclose material facts — Mere change of opinion — Notice s held to be not valid [ S.148 ]