S. 147 : Reassessment-Invalid if the ground on which reopening have been done has disappeared-Incorrect reasons recorded. [S. 14A, 148]

S. 147: Reassessment-Audit objection-Full and true disclosure of facts by assessee during original assessment-Mere change of opinion-Reopening invalid and bad in law. [S. 10(23C)(iiiab), 148]

S. 145 : Method of accounting-Rejection of books of account-Estimation of gross receipts-Factors to be considered -Estimation pure question of fact -Assessee’s turnover growing more than 5 times compared to last year -Reliance on past year’s figures not appropriate guide -Comparison with other similar businesses-Application of net profit rate of 8% highly excessive-Where books of account not available, AO should rely on Audit Report-AO is directed to apply net profit of 6%. [S. 145(3)]

S. 144C : Reference to dispute resolution panel–Draft assessment order-Assessee is a LLP in Germany-TPO had not proposed any variation– Assessee was not a foreign company assessee is not eligible to draft AO order-Draft assessment order and final order passed by AO held void ab initio-DTAA-India–Germany. [S. 144C(15) (b), Art. 12]

S. 143(3) : Assessment–Books of account–TDS return-Difference in income as per 26AS and books of accounts–No additions can be warranted. [S.28(i), Form, 26AS]

S. 143(3) : Assessment-Bogus Purchase–In absence of any corroborative evidence, purchases made by assessee from hawala dealers cannot be treated as bogus purchases and be not added to total income. [S. 69, 148]

S. 132(4) : Search and seizure-Statement on oath–surrendered income– Expenses computed–irregularity in accounts–addition is not justified.

S. 132 : Search and seizure–No search warrant–Search declared as invalid –Block assessment is also invalid.[S. 158BC, 158BD]

S. 92CA : Reference to transfer pricing officer–Arm’s length price- Advertisement and publicity expenses-Additional grounds-ALP disputed for the first time before the Tribunal-Additional ground is rejected as it virtually result in re-opening of the assessment. [S. 92C, 254(1)]

S. 92C : Transfer pricing-Asssessee paid consultancy fees and other reimbursement to Associated Enterprise–AO asked for details regarding such international transaction–assessee filed details however the TPO was not convinced and made addition–DRP confirmed as no new material was brought on record–ITAT remanded the matter back to AO for de-novo consideration.[S. 254(1)]