S. 147 : Reassessment-Notice issued after proper sanction-No return submitted in response to notice-Existence of alternate remedy-Writ to quash the notice is held to be not maintainable. [S. 148, 151, Art. 226]

S. 147 : Reassessment –With in four years- Change of opinion- Speculative transactions – Reassessment is held to be not valid. [S. 43(5), 148]

S. 147 : Reassessment-With in four years-Agricultural land-Change of opinion-Reassessment is held to be not valid. [S.2(14), 148]

S. 147 : Reassessment-With in four years-Capital gains-Advance received-Addition cannot be made as income from other sources- Addition is held to be not justified-Reassessment was quashed. [S. 2(27(v), 45, 56, 148]

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Denial of exemption-Reassessment notice is held to be not valid. [S. 10(15)(iv)(c), 148, 154, Art. 226]

S. 147 : Reassessment-After the expiry of four years-No failure to furnish material facts-Reply to Audit to drop the proceedings- Purchase and sale of shares disclosed in the course of original assessment proceedings-Reassessment is held to be not valid [ S. 56(2)(vii)(a), 147]

S. 147 : Reassessment-After the expiry of four years-Transfer of shares-Gift-No failure to disclose facts-Change of opinion- Reassessment notice is held to be not valid. [S. 45, 148]

S.127 : Power to transfer cases-Agreement between two higher authorities-Opportunity to be heard must be provided. [S. 127(2), Art. 226]

S. 115JB : Book profit-Capital gains-Indexed cost of acquisition to be taken into account in calculating capital gains. [S. 45, 48, 112]

S. 92C : Transfer pricing-Arm’s length price-Not a question of law to be considered by High Court-Remanding the matter in second round of appeals will be as if it was a shuttle game between the assessee and the Revenue Authorities-Tribunal is directed to decide the issue within six months from today. [S. 37(1), 254(1), 260A]