S. 147 : Reassessment – Cash credits-Accommodation entries -Bogus companies – information from investigation wing -No nexus with reasons recorded for initiating reassessment proceedings – Reassessment was held to be bad in law . [ S.68 , 143(1) ,148 ]

S.147: Reassessment – Cash credits –Information from investigation Wing – Loan from company working as an entry operator and earning bogus funds to provide advances to various persons- Reassessment was held to be valid [ S.143(1) ]

S.145 : Method of accounting -License fee -Merely on the basis of billing income cannot be assessed unless the income accrues to the assessee -Rule of constancy is followed .[S.5 ]

S.142(2A): Inquiry before assessment– Special audit–Court cannot go into sufficiency of reasons assigned by assessing authority for directing Special Audit

S. 115JB : Book profit – lease equalization charges can be deducted while computing book profit – Provisions for non-performing assets are liable to be adjusted while computing book profit

S. 115JB : Book profit –Provision towards electricity tariff cannot be added to book profit as it is not a contingent liability .

S. 92C : Transfer pricing – Arms’ length price – There was no justification for enhancement of ALP by disallowing allocation of overhead office expenses.

S. 92B : Transfer pricing – International transaction- Interest income on loans and advances- Assessee not disputed that transaction is international transaction however disputed only on notional addition on the ground that only real income be taxed .[ S.92C ]

S. 68 : Cash credits – Sub -contract- Outstanding credits payable to sub contractors where tax was deducted at source could not be added treating same as unexplained cash credit -If addition is up held it will lead to very ubnormal to a govt contractor .

S. 68 : Cash credits – Cash withdrawn from Bank was redeposited after seven months , addition cannot be made as cash credits .