S.147: Reassessment – Subject matter of appeal- Merger – Bad debt – Matters which are subject matter of appeal, reference or revision cannot be reopened [ S. 36(1)(vii) ,37(1) , 148, 251 ]

S.147: Reassessment -Failure to file return- Huge loss – National and multi commodity exchange – Objections stating that no income was earned and suffered heavy loss not considered – Reassessment is held to be bad in law.[S.139, 148 Art. 226]

S.147: Reassessment-After the expiry of four years- In absence of any failure on part of assessee to disclose fully and truly all material facts at time of assessment- Reassessment proceedings is held to be bad in law . [ S.80IA , 148 ]

S.147: Reassessment – After the expiry of four years – Change of opinion- Interest income on fixed deposit assessed as business income – Re assessment on the ground that it has to be assessed as income from other sources. [S.56, 148, Art.226]

S. 115JB: Book profit – Provision for bad and doubtful debt – Ascertained liability – No addition can be made.

S. 80HHC : Export business – Entitle to deduction on gross total income without reducing it by the deduction allowed u/s 80IB of the Act .[ S. 80IA (9) , 80IB ]

S.37(1): Business expenditure – Volckar Committee Report- Commission paid to Iraqi Government agency for purchase of oil – Held to be allowable expenditure .

S. 37 (1): Business expenditure – Expenditure on temporary structure – Provision for deferred liability – Held to be allowable. [ S.115JB ]

S. 35DDA : Amortisation of expenditure – Voluntary retirement scheme – Entitled to claim deduction only to extent of 1/5th only during impugned assessment year against aggregate payment. [ S.147 ]

S. 10A : Free trade zone – New Industrial undertaking – Advance pricing agreement – (APA) -As per saving clause contained in S. 92CD(2), if an assessee is otherwise entitled to deduction u/s 10A, or for that matter under any other provision of the Act, in respect of the income offered in the modified return, the same cannot be denied. [ S.92CD(1) ]